Friday, November 12, 2010

Is she an agent or a broker?

Although it's unlikely that the question has kept you up nights, you may be wondering about the difference between a real estate agent and a real estate broker?

For reasons that are unclear to most of us, the State of Washington's Department of Licensing decided, in July of 2010, to change the common terminology used for real estate licensees from "agent" to "broker." While it is not erroneous to refer to a real estate professional as an agent, the legal term is now broker. A managing broker is a professional who heads up an office of one or more brokers.

On a related note, the difference between a Realtor and a broker concerns membership in the National Association of Realtors (NAR).  All Realtor's are brokers, but not all brokers are Realtors, as membership in NAR is optional.

Membership in the National Association of Realtors, as well as the State and local branches, requires strict adherence to a well-established code of ethics for professional behavior. I believe it is to your advantage to make sure that any broker you employ is also a Realtor.

Want to know more? Text or call me at 206-708-9800.

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