Rhode Island Real Estate Agent, Realtor and Broker Terms
What is the difference between a RI real estate agent, RI Realtor, and RI real estate broker?
What is a RI real estate agent? This can be a confusing real estate question. Often times, people will use the terms real estate agent, real estate broker, and Realtor interchangably. This is not correct. Each term has its own unique definition. Below, an attempt will be made to clarify the terms. We at Realty Quarters wish for our clients to be well informed when it comes to all things real estate, especically RI real Estate.
This is one of the most widely recognized symbols in the real estate industry. It is the logo for the National Association of Realtors. This organization represents the highest quality real estate agents and brokers in the real estate field.
A real estate agent is a licensed person who can represent buyers and sellers engaged in real estate transactions. When it comes to whiskey, there is a saying, “all bourbon is whiskey, but not all whiskey is bourbon.” The same can be said for the real estate agent. All Realtors and real estate brokers are real estate agents but not all real estate agents are brokers and Realtors.
What makes a real estate agent a Realtor is the successful completion of the real estate licensing exam as well as membership in the National Association of Realtors. Membership can be rigorous but the benefits that are included in membership are worth it.
The real estate broker. That’s Tommy. A real estate broker is defined by their level of education and experience in the real estate field. There are different ways to become a real estate broker, passing the brokerage exam is one of the most common. Both Rhode Island real estate agents and Rhode Island Realtors can become Rhode Island Brokers by passing the brokerage exam.