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There are differences between Realtor®, agent, and broker. Even though a lot of times they’re used interchangeably, they’re not the same. Here’s an easy-to-consume guide for what the differences are.
Real Estate Agent
Real estate agent is the most straightforward category to define. They are individuals who are licensed to help people buy, sell and rent real estate. Real estate agents organize property transactions between buyers and sellers, or renters and owners.
You may have heard the terms ‘buyer’s agent’ and ‘listing agent’ before. And they’re exactly what they sound like. A buyer’s agent is a real estate agent who represents the home buyer, and a listing agent represents the seller.
There are state-level requirements for becoming a real estate agent. In Colorado, a new agent must:
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Complete 168 hours of education coursework —OR— hold a degree from an accredited college or university with a major course of study in real estate.
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Take and pass both national and state portions of the Colorado Real Estate Broker’s exam.
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Complete a fingerprint background check.
Real Estate Broker
A real estate broker is an agent who took their professional education one step further and passed a broker’s license exam. They’re able to work independently, start their own brokerage and hire other real estate agents. Brokers generally have a more in-depth knowledge about real estate because they’ve had at least three years’ experience as a licensed agent before obtaining additional licensure.
Realtor®
The title “Realtor” is highly respected because it shows a commitment to excellence. A Realtor is a licensed agent who is a member of the National Association of Realtors® and adheres to the standards and ethics of the association. You can trust that a Realtor® will conduct themselves with integrity and the utmost professionalism.
At Kenney & Company, you know you’re getting the best service and integrity because all our agents are required to be a member of NAR, and local Realtor associations like the Pikes Peak Association of Realtors or the Denver Metro Association of Realtors.
