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National Association of REALTORS

Distinguishing the Differences Between Real Estate Agents and Professional REALTORS®

LAS VEGAS, NV – To a novice, there are many aspects of the real estate industry that might remain a mystery to them, and experts say one of the most commonly asked questions they receive are from those inquiring about the differences between a real estate agent and a Realtor, with many people actually believing the two professions are one in the same. There are some very distinct differences, however, and we will briefly touch upon them in this article.

There is actually a large difference between real estate agents and Realtors. Simply put, real estate agents are licensed to buy and sell homes – much the same as a Realtor – but are not members of the National Association of REALTORS®(NAR), with the primary distinguishing factors between the two coming down to the certification, training, and professional standards required by the organization.

Members of NAR are held to a strict set of standards and a code of ethics – over and above what would be expected of a real estate agent – which revolves around the concept of “treating all parties honestly.” The professional standards of the organization are revised on an annual basis in order to incorporate any changes to laws and practices governing the industry, and a Realtor collaborates alongside local Realtor associations, unlike a real estate agent.

To put it in basic terms, not all real estate agents are Realtors, but all Realtors are real estate agents.

Real estate agents are required to take classes and pass a state exam that tests their knowledge of housing laws, sales, and purchases. They are expected to continue to take classes to keep their knowledge current and their license must be renewed every couple of years.

You must already be a licensed real estate agent to become a Realtor, taking the same classes and exams to keep your knowledge base current. However, being a Realtor comes with additional requirements over and above those that are expected of a real estate agent, including having a valid and active real estate license; actively working in the real estate business; having a record clear of official sanctions for unprofessional conduct; not having a recent or pending bankruptcy; and abiding by the professional standards imposed by NAR.

Real estate agents who are able to adhere to those requirements can then become a NAR member, officially making them a REALTORS®.

Abiding by NAR’s code of ethics of treating all parties involved in a transaction as fairly and honestly as possible is what has garnered Realtors the stellar reputation that they enjoy in the industry; it gives the clients and agents you are dealing with the comfort of knowing that you are looking out for their best interests throughout any transaction, and it is why some individuals prefer working with Realtors as opposed to real estate agents.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Shelter Realty Represents Buyer in Purchase of 586 Lairmont Place, Henderson NV

Shelter Realty Represents Buyer in Purchase of 586 Lairmont Place, Henderson NV

Shelter Realty agent Paul Rowe acted as the buyer’s agent on the purchase of a 12,000 square foot custom home in the upscale neighborhood of MacDonald Highlands. The $1.7 million dollar sale on 586 Lairmont Pl, Henderson NV closed on November 30th, 2015.

Originally constructed in 2010, this property is set to be completely renovated and reinserted back into the Las Vegas real estate market by July 2016.

I interviewed Paul about the upcoming plans for this project and here were his comments about the sale as well as the impending renovation plans.

This was a very interesting purchase. MacDonald Highlands was hit particularly hard during the recession, but is coming back strong now. The home was originally completed in 2010 and eventually was foreclosed upon in 2013. A new owner took possession in 2013 but never occupied the property. They had a grand vision to expand the property even larger; however, they eventually decided not to pursue the renovation, but not before completely demo-ing the property down to the floor boards and studs throughout the entire property.

It was placed back on the market in 2015 in this unfinished condition, but being such a daunting project, the retail buyers weren’t biting and the initial pricing was too high for the investors. The new owners I represented came in and picked it up at a pretty good time.

The home really is going to be like a new home for whomever buyers it after the renovation. It was barely ever lived in and now it is being reworked from the top to bottom with new everything. The pool will be new, landscaping new. All the finishes and fixtures, new, low voltage electronics throughout as well.

I love the new floor plan. It maintains the large capacity as a high profile entertainment home but is laid out so efficiently, a family will feel right at home. It is amazing how the rooms are interconnected. When you’re in it, it feels like a grand house but you still know what is going on in other areas of the home unlike some cavernous homes I’ve been in before.

The views are phenomenal. This house has a 4000 square foot finished roof deck. I am not joking, there are clubs on The Strip that don’t have this kind of space. You can see the entire Las Vegas valley from up there.

The current developers are already proceeding on the renovation and delivery is expected in late June 2016. There are opportunities for the eventual resale buyer to come in earlier during the renovation if they wish, and to take the home in a different direction prior to its completion. This is something that would have to be negotiated but as building from dirt in MacDonald Highlands can easily take about 24 months, it is a great opportunity to have like new construction that can be ready in only 4-5 months.