In this post, we’re gonna cover a lot more than just what the differences of a real estate agent, realtor and real estate broker are.
But in a nutshell…
Real estate agents are professionals that mediate the buying and selling of houses for their clients in exchange for a certain amount of commission. In short, real estate agents are salespersons.
Realtors on the other hand are still real estate agents. The only difference is that they are a member of an association called the National Association of Realtors (NAR).
Being a member of NAR gives you that fancy title of being a “Realtor”. It has its own perks as well but we’ll cover that later
What about the Real Estate Broker?
Real estate brokers are real estate agents that are licensed to open up a real estate brokerage firm. And brokerage firms are where real estate agents have to work under to be able to do real estate transaction
Keep in mind that real estate agents, realtors, and brokers are all salespeople. It’s just the flexibility to do business and to do certain things that differentiate them from each.
Can someone be a real estate agent, a realtor and a broker at the same time?
If you’re an agent who decides to take the necessary steps and requirements to be a member of the National Association of Realtors (NAR) then you can be a realtor. And if you decide to take additional education and training and pass the real estate broker licensure exam, then you can be a broker. So yes, someone can be a real estate agent, a realtor and a broker at the same time.
Now let’s start answering some commonly asked questions.
What do real estate agents do?
Real estate agents are salespeople, so their work may include any of the following:
1. Finding clients that want to sell or buy a house.
2. Setting up an appointment.
3. Arranging meetings with the Client.
4. Give home property advice.
5. Lead Follow-ups
6. Property research in the local areas.
7. Run comparables.
8. Run marketing campaigns to get clients
9. Business-related in-person and phone call conversions.
10. Door knocking when prospecting and some more…
While being a real estate agent may seem to be very challenging, know that it can also be worth the time and effort to get into.
How do you actually become a real estate agent?
To simplify, we’re gonna have to break it down into steps.
Step 1: Take a pre-license real estate course and the licensing test.
Real estate pre-license course usually takes about 48-60 hours long. This course could be in-person or online.
This course usually is going to be broken into units.
Each unit will have a series of questions in them at the end that you will need to answer and pass in order to unlock the next unit of the full course.
These quiz-like questions are just part of the course and are designed to help you effectively complete the course. They’re not the actual exam that will get you your license upon completion.
Available Courses Here: Take Real Estate Course
What’s next after completing your real estate course?
Once you’ve completed the course, the next step will be to take a real estate practice exam.
Real estate practice exam may be required before you can take the actual state licensing exam for real estate agents. Practice exams can be administered by government agencies, or professional associations that have been authorized to do so.
If you pass the practice exam, you will receive a certificate which may be required when taking the actual state licensing examination at your local real estate testing center.
Take your practice exam here: PSI Practice Exam
But what happens if you fail your real estate agent licensing exam?
If you did not pass your first real estate agent licensing exam, you can retake it as many times as you need within the first year after taking it. If it has been more than a year since you took the exam, then you’re gonna have to retake the course before you can take the exam again.
If you have been failing the exam, just know that many successful real estate agents have also failed their real estate exam multiple times when they were just starting out. Keep trying and don’t let this setback affect you.
What’s next after passing your real estate state test?
After passing your real estate state test, you’ll need to put together an application with your state’s real estate commission to get approved for a license.
Note that some states may require you to be sponsored by a licensed broker first before you can apply for a license. This means that you have to have a sponsored broker first that will sign your application for licensure.
Find Real Estate Commission Here: List of Real Estate Commissions Per State