What is the difference between a realtor and a real estate agent?

The distinction between a realtor and a real estate agent is important to understand if you plan to buy or sell property in Virginia. A real estate agent is a licensed professional who works on behalf of buyers or sellers to aid in the real estate transaction process. Agents can represent either party and typically work for a real estate broker. Agents will assist buyers or sellers in identifying suitable properties, negotiating the sale price, and often helping to arrange financing. A realtor is a real estate professional who is also a member of the National Association of Realtors. This association enforces standards of practice for real estate agents to ensure the highest quality service. In addition, realtors are held to a higher ethical standard and have no legal obligation to either the buyer or seller. Realtors must abide by a strict code of ethics. This code requires that they be loyal to their clients and provide them with truthful and accurate information concerning real estate transactions. Furthermore, they must ensure fairness to all parties involved in a transaction. In summary, the major difference between a real estate agent and a realtor is that the latter is a member of the National Association of Realtors and is bound by a strict code of ethics. Virginia buyers and sellers are assured of high-quality service when working with a realtor.

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What is the difference between a realtor and a real estate agent?

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