What Is A Realtor?
A real estate agent is a real estate professional who has affiliation to a real estate office or “brokerage” and who is charged with helping home buyers sell homes and also with helping home owners sell their homes. “Realtor” is actually a trademarked name used by agents who are members of the National Association of Realtors and who abide by the group’s code of ethics and standards. These days, most agents are Realtors.
Traditionally, realtors only represented sellers in the transaction but in the last few years a significant number of agents have become what are known as “buyer’s agents.” These individuals often have the initials “ABR” after their names which stands for Accredited Buyers Representative and they specialize with helping buyers find the homes of their dreams. Buyer’s agents are probably one of the best things to happen for home buyers. Many will ask you to sign a buyer’s agency agreement before they take off with their hot button list in hand and look for suitable properties. The agreement is not exclusive and typically states that the agent will work to find and secure the perfect home for you. The beauty in all of this is that the agent’s commission comes out of the seller’s pocket so you don’t have to pay for the valuable services that they offer. However, if you decide to purchase a “for sale by owner” or FSBO property and wish to have representation on the sale, most buyer’s will negotiate a fee with either the seller which is most commonly, or the buyer.
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