Question 1

What is the difference between a Real Estate Broker, Agent, or REALTOR®?

Accepted Answer

They essentially mean the same thing (licensed real estate professional), with some distinctions. The term "broker" and "agent" are synonymous. In North Carolina, licensed real estate professionals are referred to as a "broker" so you may see this term used frequently here in NC. However, the term real estate broker often can also refer to a broker-in-charge, which is the leadership of the brokerage and has additional qualifications to supervise other brokers.

If a licensed real estate broker or agent uses the term "REALTOR®" it means they are members of the NAR, which stands for National Association of Realtors and hold themselves to higher standards in the industry. John and Elizabeth Leonard are both members of the NAR and are Realtors.

Question 2

Why Should I Work With A Real Estate Broker / Agent / REALTOR®?

Accepted Answer

A licensed real estate professional (broker, agent, Realtor®) is held to high standards in their client representation. Industry expectations and license law indicates a real estate professional MUST provide a set of duties that fall under "Fiduciary" duties to the client [obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care] and some of these duties to others in a transaction.