One of the things I like about practicing real estate is that it lets me enjoy some of the best aspects of my old job -- as a teacher. Explaining things (and, with luck, being a little helpful in the process) can be a fun gig.
Say, for example, that you see some titles after an agent's name and wonder how qualified this person really is. So how about some definitions?
Some basics:
real estate agent - Simply means the person is licensed to sell real estate. Doesn't tell you anything more specific about how much training he or she has.
salesperson - In Illinois, this person has passed a 45-hour classroom course. But this person can't own a real estate office. (You need a broker's license for that.)
broker - In Illinois, this person has passed the 45-hour salesperson course and the 75-hour broker course. This person can own a real estate office.
Realtor - A real estate agent who has paid dues to join the National Association of Realtors (NAR), the largest trade group of real estate agents. Only agents who have paid NAR dues can call themselves Realtors. (That's why you'll often see the word "Realtor" accompanied by a symbol indicating a registered trademark; NAR owns the term.)
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