Today’s article is about industry fundamentals.  We will cover what the difference is between a realtor and a real estate agent.  People often use the two words interchangeably, but there is a rather important difference between the two.  That difference involves credentials.

A realtor typically has more training and more experience in the real estate business than does a real estate agent.  While both a realtor and a real estate agent will need to be licensed, the realtor has gone the extra mile in obtaining a further level of expertise in the industry.  For example, realtors belong to a professional organization, the National Association of Realtors, which provides for a strict code of ethics that must be adhered to in order to remain in good standing.  Actually, that’s the only sure-cut difference, the matter of membership.  Thus, the term “realtor” is, in fact, an actual registered trademark.

Of course, there exist a great many superb real estate agents who do a good bang-up job day in/day out.  But being a member of a professional association gives you, the consumer, a venue, should your experience be much less than satisfactory, other than the usual government watchdog agencies.

Agents are, however, bound by a certain number of legal obligations, such as preserving confidentiality, honoring fiduciary duties, and reporting all financial numbers.

So is there any practical difference between a realtor and a real estate agent?

Not too much, and mostly on paper.  Again, realtors have a little more education – or a lot more, depending on your perspective – but other than the extra amount of “book knowledge” required, you can trust on either one to help you when it comes to acquiring or selling property.  In my personal experience over the years, I have had cause to work with both on numerous occasions but have never had a reason to prefer one over the other.

If it is your first time to purchase a house, it is advisable that you ask the help of a realtor. A real estate agent can help you in various ways. They will recommend better lenders and advise you on which mortgage to take.

A real estate agent will help you find the right house you want at the price range you can afford. Since they know where to look, you will be able to find the house in no time. An agent has a list of different types of houses. They know how to find ads like Gilbert Homes for sale, or foreclosed houses that you might find attractive.

If you are not yet convince to ask the help of a realtor, here are other reasons why you need their help:

1. This is their field of expertise, and when you are making one of the biggest transactions in your life, you want to do it with an expert. Since they know the business, they can help you find a good deal. They can also make the most out of your resources, including the loan you acquired and the savings you have for the house.

2. The agent will assess possible houses for you. This will ensure that the houses you will visit are those that are possible candidates for your future home. They will not waste your time, showing you houses you do not want or you cannot pay for. This will save you from the frustration of looking at houses you cannot have.

3. Agents are also aware of the people to contact to know more information about the location of the house. As you might already know, location is vital in purchasing a house. Its appreciation over the years largely depends on its surroundings and accessibility.

4. Aside from finding out about the location, agents also know a network of professionals who can help you with the other aspects of purchasing the house. They can recommend competent and affordable home inspectors, lawyers, and financial advisers. You do not have to hire someone for everything because agents have knowledge of the industry. However, if he deems it necessary, he will be able to recommend some people who can help you with the transaction.

5. Agents have also mastered the negotiation process of selling and buying a house. If you want Gilbert Homes for sale, they can find ways to make it happen, unless it is not financially impossible. Most agents know what sellers and buyers want and they negotiate to make their client happier.

Finding the right house is difficult. Although you can find one yourself, it is still better to seek the help of a realtor especially if it is your first time. A realtor will make sure that you find the house you want at the price you can handle.

Chris Turley is an expert and professional real estate agent that will help you to find the perfect home that better fits your needs. For more information on Gilbert homes for sale, please go to http://www.ourbestrealestate.com.

The internet makes it easier for new homebuyers to research and examine homes currently for sale on the real estate market. Even with the use of MLS websites, you should still allow a Realtor to help you find your dream home. What many new homebuyers do not realize is that not all for sale properties are advertised. Professional Realtors, on the other hand, do know this; therefore, they have alternative methods of finding and examining for sale properties.

A professional Realtor can also help you determine how much you can afford to spend on a new home. This is important for new homebuyers, as many want to be able to purchase their dream homes and at all costs. With a little bit of background information, including your yearly income, your expenses, the amount of money saved, and so forth, a Realtor can help you determine an accurate price range. A Realtor can also help you get on the path to acquiring financing. This can assist you when examining available for sale homes, including touring them. By automatically eliminating properties that are financially out of your reach, you can find your dream home and a lot quicker with the assistance of a Realtor.

The honesty that you will and should receive from a professional Realtor is another one of the many benefits to using their assistance when looking to buy a new home. As much as a Realtor will want you to buy a home, they will not want you to buy just any home. When you have a Realtor in your corner, namely one that you handpicked yourself, you are likely to be given honest information concerning the homes that you are interested in. This honest information may include information on a home’s downsides, as well as a property with a too high asking price. This is enough reason, alone, why all homebuyers should use the services of a real estate agent.

Of course, it is very important that you select a real estate agent that has your best interest at heart. You want a Realtor that will be honest and up front with you – a Realtor that wants to serve you. You can find a good Realtor by asking your friends and associates for recommendations – this is often the best way to find someone you can trust and work with.

The above mentioned reasons are just a few of the many reasons why you should use the assistance of a professional Realtor, when looking to buy a home. Even if you are just looking, as opposed to ready to buy, no harm can from at least consulting with a Realtor who services your area.

Please visit When Buying a Home, Which Features Really Matter? and Why to Use a Buyers Agent When Buying a New Home In North Carolina

• ABR — The abbreviation stands for Accredited Buyer Representative. This certification means the realtor specializes in representing buyers.

• ALC — The Accredited Land Consultant specializes in land brokerage transactions.

• CIPS — The Certified International Property Specialist will have more knowledge of the international real estate market.

• CRB — The Certified Real Estate Broker has specialized knowledge in brokerage and real estate business management.

• CRE — These realtors hold a Counselor of Real Estate certification that is by invitation only. They give seasoned advice on real estate and land-related matters.

• CRS — The Council of Residential Specialist certification means the realtor concentrates on the buying and selling of residential homes.

• GRI — The realtor with a Graduate Realtors Institute certification has attained what the industry considers to be the highest professional standing for a residential realtor.

• SRES — The Seniors Real Estate Specialist has specialized knowledge for working with seniors, who probably have not sold a home for many years. This realtor is able to properly explain new terms, laws, procedures and financing to seniors, as well as help them to more fully understand their seller and buyer rights.

Why Get Designations?

Realtors who have these designations have studied specific areas of real estate in order to gain advanced knowledge within these areas. Qualifying for these designations takes a lot of classroom time, testing and learning extensive practical knowledge. Some designations require up to six-to-eight months of regular classroom study. In addition to giving the realtor more knowledge, such study also increases the realtors’ professionalism.

Realtors have found these designations quite valuable; since the more knowledge they have, the more confidence their clients have in their skills and ability. Such certifications are especially valuable for new realtors, increasing their knowledge faster than with on-hands experience.

All realtors are required by their state to have a certain level of knowledge in order to be licensed. Additionally, realtors are required to take coursework every four years to maintain their license. Certification coursework is completely optional for realtors.

What Does This Mean to the Buyer or Seller?

That depends upon the individual realtor. I worked in the insurance industry for many years, where such designations are aggressively promoted and just as hard to obtain. I found the following concerning insurance agents and their designations that easily translates to realtors and their designations:

• For many, the coursework improved their knowledge and ability to sell,

• The designations attracted more clients,

• Many of our firm’s top insurance agents held designations,

• Many of the top agents held no designations, and

• One of the most successful agents the firm ever had held no designations, continuously topped everyone in sales each year, and was so successful that he had his own private secretary, who screened all his calls, because he was so busy with clients who just seemed to gravitate toward him.

My point is this — A designation indicates that the realtors have completed some extensive study on their own time. It means they should be well versed in that particular area of real estate. It does not mean that they are more knowledgeable than a realtor without the designation, because the latter may have learned much more through actual experience than the person holding the designation.

So, when looking to hire a realtor, keep a good perspective on designations. Opt to do a good interview with the realtor, rather than simply accepting he/she is the best because of a designation.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit San Diego Realtor

The role of a real estate agent is to represent your best interests in a real estate transaction. They work off of a commission, normally 6% of the sales price of the home. In most cases, that commission is split equally between the realtor representing the buyer and the realtor representing the seller. For a person buying a home, the service of the real estate agent is free, because commission is paid by the seller. The buyer, however, is responsible for most of the closing costs. The closing costs will be explained to you by your realtor and will be on the documents you sign when you go to the title company. Closing costs can also be negotiated on during the contract process.

The real estate agent, through their broker, has access to all of the MLS (Multiple Listing Service) listed homes in your area of interest. If you are a home buyer, the realtor can provide you with information about homes for sale that meet your criteria. They will then bring you to these homes and let you inside to see them. If you are selling a home, the realtor will list your home in the MLS, post a “For Sale” sign in your yard, and hold open houses to attract buyers. Be wary of discount realtors that offer to list your home for a lower commission. Studies show that, in most cases, your home will stay on the market longer and you end up selling it for a lower price than what you intended.

A real estate transaction is a complicated process that involves many steps and is best done with the help of a trained, licensed professional. A realtor can save you the headache of dealing with the other party in the sale, getting together the contract, and submitting all the documents to the title company. So when you are ready to buy or sell a house, contact the local real estate agent.

Michael A. Stazko is a food lover and founder of http://www.buyandsellnorthtexas.com , http://www.bigdallasrealestate.com , and http://www.bigsandiegorealestate.com