Understanding the Difference: Realtor, Real Estate Agent, and Real Estate Broker in Idaho
- Parker Stevens
- Nov 22, 2024
- 3 min read
When searching for houses for sale in Rexburg, Saint Anthony, or nearby areas, you may come across professionals with titles like Realtor, Real Estate Agent, and Real Estate Broker. While these terms are sometimes used interchangeably, they represent distinct roles with different qualifications, responsibilities, and scopes of practice. Knowing the differences can help you choose the right professional to guide you through your real estate journey.
What Is a Real Estate Agent?
A real estate agent is a licensed professional who assists clients in buying, selling, or renting property. Agents are often the frontline experts in real estate transactions and focus on helping clients navigate the complexities of the market.
How Do You Become a Real Estate Agent in Idaho?
In Idaho, becoming a real estate agent requires:
Pre-Licensing Education: Prospective agents must complete 90 hours of coursework through an accredited real estate school. This education covers topics like contracts, ethics, and market practices.
Licensing Exams: Candidates must pass both the Idaho state and national real estate licensing exams.
License Application: After passing the exams, individuals apply for their Real Estate Salesperson License through the Idaho Real Estate Commission.
Brokerage Affiliation: By law, real estate agents must work under the supervision of a licensed broker. Agents cannot operate independently.
Agents are responsible for tasks such as listing homes for sale, marketing properties, conducting showings, negotiating offers, and guiding clients through the buying or selling process.
What Is a Real Estate Broker?
A real estate broker holds more advanced qualifications than a real estate agent. While brokers can perform all the duties of an agent, they have additional responsibilities and the ability to operate independently. Brokers often take on managerial or supervisory roles, overseeing agents and ensuring compliance with state laws and industry standards.
How Do You Become a Broker in Idaho?
To become a broker in Idaho, candidates must:
Gain Work Experience: Applicants must work full time as a licensed real estate agent for at least two of the past five years while also meeting volume requirements for property sold.
Additional Education: Brokers must complete additional hours of advanced real estate coursework. This training includes topics like brokerage management, advanced contracts, real estate law, and real estate finance.
Broker Licensing Exam: Brokers must pass specialized state and national exams designed to test advanced knowledge and the ability to handle complex transactions.
License Designation: Once licensed, brokers may choose to work in one of the following capacities:
Designated Broker: A broker who owns and manages their own real estate firm or manages a firm on behalf of another.
Associate Broker: A broker who works under another brokerage but does not manage their own firm. Often this is to spend more time focusing on the needs of their clients as opposed to supervising other agents.
What Is a Realtor?
A Realtor is a real estate professional—either an agent or a broker—who is a member of the National Association of Realtors (NAR). This membership is optional but adds a layer of credibility and commitment to ethical practices. Realtors pledge to adhere to NAR’s Code of Ethics, which emphasizes honesty, integrity, and putting clients' interests first.
Why Choose a Realtor?
Realtors are held to higher standards than non-members. When you work with a Realtor, you can expect:
Professionalism: Realtors undergo additional training and must maintain their membership by meeting NAR standards.
Ethical Conduct: Realtors are bound by a strict code that covers how they treat clients, other professionals, and the public.
Advocacy: NAR membership often involves staying updated on local market trends and advocating for policies that benefit homeowners and buyers.
Why Do These Distinctions Matter?
Understanding the difference between a real estate agent, broker, and Realtor helps you make informed choices. Here’s why it matters:
Expertise: Brokers have advanced training and experience, making them ideal for more complex transactions.
Ethics: Choosing a Realtor ensures your agent or broker adheres to the highest professional standards.
Legal Compliance: Both agents and brokers are required to follow Idaho’s real estate laws, but brokers bear a higher level of responsibility.
No matter who you work with, it’s essential to verify their credentials and ensure they have experience in your local market.
Finding the Right Professional in Rexburg, Saint Anthony, and Surrounding Areas.
As a Rexburg Real Estate Broker and Realtor, I uphold the highest standards of skill, ethics, and education to ensure you are represented in the best possible way. If you are looking for someone to represent you in your search for houses for sale or to sell your house in the area, give me a call and allow me to interview for the job, you’ll be glad you did!
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