{"id":168,"count":1,"description":"\r\nJump to:\r\nWhat is a REALTOR\u00ae?<\/a>\r\nWhat is the difference between an agent, a broker and a REALTOR\u00ae?<\/a>\r\nHow do you become a REALTOR\u00ae?<\/a>\r\nWho pays REALTOR\u00ae fees?<\/a>\r\n\r\n\r\nWhat is a REALTOR\u00ae?\r\n\r\nREALTOR\u00ae is an individual who has a real estate license, works in real estate and, most importantly, is a member of the National Association of REALTORS\u00ae and adheres to the NAR code of ethics.\r\nThe term REALTOR\u00ae is a registered trademark and should not be used generically to refer to a real estate agent or a real estate broker, as it is often the case.\r\n\r\n\r\nWhat is the difference between an agent, a broker and a REALTOR\u00ae?\r\n\r\nAn agent is a professional who has passed the state real estate license examination and is authorized to represent a seller or a buyer in a real estate transaction. Agents cannot operate individually \u2013 it is required that they be managed by a Broker.\r\nA real estate Broker has more education and experience than an agent and is required to pass additional state examinations in order to obtain a broker license. This certification allows the professional to either operate individually or employ agents or other brokers and manage a brokerage.\r\nNeither the Agent, nor the Broker are licensed REALTORS\u00ae unless they are members of the National Association of REALTORS\u00ae, as well.\r\n\r\n\r\nHow do you become a REALTOR\u00ae?\r\n\r\nBecome a member of a local association\/board of REALTORS\u00ae and it will automatically extend to the state and national level.\r\nFind local associations of REALTORS\u00ae in your area by browsing the NAR list. Alternatively, contact NAR and the association can guide you to a local board in your area, which you can then contact regarding membership.\r\nAgents affiliated with a broker can opt to enroll in the association only if their Broker is a REALTOR\u00ae. The principals of a real estate firm must first join a REALTOR\u00ae association before any associates can join. Principals are defined as: sole proprietors; partners in a partnership; corporate officers or majority shareholders of a corporation or branch office managers acting on behalf of the principal.\r\n\r\n\r\nWho pays REALTOR\u00ae fees?\r\n\r\nTypically it is the seller who handles the commission in a real estate transaction, unless an agreement is made between buyer and seller to cover commission costs otherwise. REALTOR\u00ae fees usually come out of the amount that the seller gets for the property. The REALTOR\u00ae or the REALTOR\u00ae\u2019s brokerage then distributes the commission to all parties involved \u2013 this includes the buyer\u2019s real estate representative.\r\nHowever, the REALTOR\u00ae\u2019s commission is only part of the closing costs and some of these costs are supported by the buyer. It is generally advised that each party have its own representative to negotiate closing costs. Whether you are buying or selling the property, your REALTOR\u00ae should present you with a detailed account of costs involved in a possible transaction.\r\n\r\n\r\nYou might also be interested in:\r\n\r\n \tHow do you calculate a cap rate?<\/a>\r\n \tHow do you get a real estate license?<\/a>\r\n \tHow do you invest to protect against inflation? \u201cInflation Hedge\u201d<\/a>\r\n\r\n\r\n\r\nSearch other terms\r\n\r\n\r\n\r\nA<\/a>\r\nB<\/a>\r\nC<\/a>\r\nD<\/a>\r\n\r\n\r\nE<\/a>\r\nF<\/a>\r\nG<\/a>\r\nH<\/a>\r\n\r\n\r\nI<\/a>\r\nJ<\/a>\r\nK<\/a>\r\nL<\/a>\r\n\r\n\r\nM<\/a>\r\nN<\/a>\r\nO<\/a>\r\nP<\/a>\r\n\r\n\r\nQ<\/a>\r\nR<\/a>\r\nS<\/a>\r\nT<\/a>\r\n\r\n\r\nU<\/a>\r\nV<\/a>\r\nW<\/a>\r\nX<\/a>\r\n\r\n\r\nY<\/a>\r\nZ<\/a>\r\n\r\n\r\n\r\nPopular terms\r\n\r\n\r\n\r\nAmortization<\/a>\r\n\r\n\r\nEquity <\/a>\r\n\r\n\r\nNotary Public <\/a>\r\n\r\n\r\nProgression\/Regression<\/a>\r\n\r\n\r\nAcquisition <\/a>\r\n\r\n\r\nAnnuity <\/a>\r\n\r\n\r\nAsset <\/a>\r\n\r\n\r\nFiduciary <\/a>\r\n\r\n\r\nInflation <\/a>\r\n\r\n\r\nContingency <\/a>\r\n\r\n\r\nEscrow<\/a>\r\n\r\n\r\nPower of attorney <\/a>\r\n\r\n\r\nReal Estate Agent <\/a>\r\n\r\n\r\nEminent Domain <\/a>\r\n\r\n\r\nLiability <\/a>\r\n\r\n\r\nStatute of Limitations<\/a>\r\n\r\n\r\nValid <\/a>\r\n\r\n\r\nVariance<\/a>\r\n\r\n\r\nContiguous <\/a>\r\n\r\n\r\nDeficit<\/a>\r\n\r\n\r\n\r\n","link":"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-realtor\/","name":"Realtor","slug":"cre-term-realtor","taxonomy":"post_tag","meta":[],"yoast_head":"\nWhat is a Realtor? - Commercial Real Estate Dictionary<\/title>\n<meta name=\"description\" content=\"REALTOR\u00ae is an individual who has a real estate license, works in real estate and, most importantly, is a member of the National Association of REALTORS\u00ae and adheres to the NAR code of ethics.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-realtor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Realtor Archives\" \/>\n<meta property=\"og:description\" content=\"REALTOR\u00ae is an individual who has a real estate license, works in real estate and, most importantly, is a member of the National Association of REALTORS\u00ae and adheres to the NAR code of ethics.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-realtor\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"CollectionPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-realtor\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-realtor\/\",\"name\":\"What is a Realtor? 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