Wednesday, 25 April 2012

I AM a real estate agent, but I'm also a REALTOR®

People use the terms REALTOR® and real estate agent interchangeably, but that is incorrect. There are differences between REALTORS® and real estate agents. They aren’t the same and a part of the confusion is that most people don’t know the difference between the two and tend use the terms interchangeably. So what exactly is the difference between REALTORS® and real estate agents?

REALTORS® and the REALTOR® Code of Ethics

What sets REALTORS® apart from real estate agents is that a REALTOR® is a member of the Canadian Real Estate Association (CREA) and must subscribe to the REALTOR® Code of Ethics and Standards of Business Practice, a strictly enforced program consisting of 28 articles governing the standards of practice for Canadian REALTORS® . It's not just a bunch of rules that agents swear to uphold and adhere to. The Standards are much more restrictive and confining as to conduct than those governing agents who simply hold a real estate license. While there is no evidence nor guarantee that all REALTORS® are morally and ethically better than unaffiliated real estate agents, it is an attempt by the industry to regulate and, as such, deserves recognition. This code of ethics doesn’t apply real estate agents.

You can expect honesty, integrity and a high level of knowledge & service from your REALTOR®.

  • Practitioners, lawyers and consumers accept the CREA Code of ethics as the gauge of professionalism for the real estate industry.
  • REALTORS® in Nova Scotia are required to continue their training by completing a code of ethics course and completing 9 continuing profession education credits per year. REALTORS® that do not complete these requirements do not get their licence renewed.
  • Only a qualified REALTOR® is entitled to use the REALTOR® registered trademark on their business cards, websites and advertising materials.
  • Only a qualifed REALTOR® has access to posting properties on the MLS® System.
  • Not every real estate agent in Nova Scotia is a REALTOR®, but all REALTORS® are licensed real estate agents.

So... Who are you going to call when you are considering your next real estate transaction?

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