Realtor and real estate agent: what is a difference
When buying or selling an apartment, we resort to the help of specialists, and, often, it is not clear to us how the realtor differs from the agent. And, by the way, there is a difference, and it is significant, since it is regulated by law. Let’s figure out what it is.
An individual may engage in real estate activities only if he has a certification certificate issued by the Ministry of Justice for a five-year term. This document can only be obtained if you have a higher education, major in law, economics or architecture, and at least one year of professional experience. The presence of work experience at the agency, but taking into account passing the qualification exam.
After submitting an application, a copy of a diploma of education, a work book to the Ministry of Justice, a citizen is assigned the deadline for passing the qualification exam for a realtor. Electronic testing involves 20 questions. Having correctly answered 75% of them, a citizen receives a certification certificate of a realtor.
What services do real estate agents provide?
Services provided by agency employees are clearly regulated:
- Providing information on the current market situation;
- Help with choosing an apartment, house for purchase;
- Documentary support of the transaction;
- Share construction transactions;
- Procedures for registration, transfer of ownership.
Real estate agency specialist qualifications
The compliance standards of agency employees are fixed by the Decree of the Ministry of Justice “On some measures to improve real estate activities”. The decree establishes the procedure for conducting real estate activities, as well as the conditions that a specialist must meet.
These are the following criteria:
- Higher education, profile law, economics or architecture;
- Secondary special education, specialty jurisprudence, economics, architecture;
- Higher, secondary specialized education of a different profile, but the presence of labor experience as a realtor for at least one calendar year;
- Higher, secondary specialized education, as well as a document on passing qualification courses, approved by the Ministry of Justice
To summarize: what is the difference between a realtor and an agent?
A real estate agency providing real estate services acts as a legal entity. Each specific agent accompanying a client’s transaction is an employee. An agent can be a citizen who does not have a certificate of certification of a realtor established by the Ministry of Justice of the Republic of Belarus, but the company where he works must have a license to provide real estate services. Tariffs of agency services are the same throughout the republic.
A realtor is a private person. The realtor differs from the agent in that in order to conduct activities he needs to pass qualification certification in the Ministry of Justice with the receipt of a certificate. A realtor with a certificate of certification can work in a real estate agency.
If you are engaged in the sale or purchase of real estate, you can resort to the services of various kinds of specialists. Some of them call themselves realtors, and some – real estate agents. In this article we will tell you what is the difference between these professions.
Only one who has a certification certificate for this activity can become a realtor. You can get it at the Ministry of Justice for a limited period. Office not everyone will issue a document. Only to those who have higher education.
You need to study as an economist, lawyer or architect and work in your specialty for at least a year. It is also important to have experience working at a real estate agency and pass a qualification exam. If you have fulfilled all the conditions – your testimony. If not, all the best, you cannot be called a realtor.
Real estate agents should not try so hard. Their competence includes providing information about what is happening on the real estate market, assistance with the sale or purchase of an apartment, support of real estate transactions and registration procedures. They may also participate in shared construction transactions.
But now you can compare. Agents are legal entities. They are employees who act on behalf of the agency. Virtually any citizen can work with them without education, certificate and other things. The main thing is that the company where the agent works has a license to provide real estate services.
A realtor is considered a private individual. To offer the same range of competencies as the agent, he must pass qualification certification and obtain a certificate. A realtor can work in a real estate agency and will earn more, as this is a more qualified employee.