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Since you are reading this, I presume that you are interested in knowing the differences between a Realtor, Broker and Real Estate Agent in Texas. It’s probably not what you think. We’ll answer that and a few other common questions in this post.
Let’s start with the basics: Do you need to be a Realtor to sell your property in Texas? The answer is no. There are no provisions in the Texas Statutes that require you to have a real estate license to sell your own property. Texas does however, require a license for a someone to sell a property for another person in a professional manner or for compensation.
So why would someone pay Realtor fees? Selling without an agent, also known as for sale by owner (FSBO) has risks, takes time, effort, experience and research has shown that FSBO sale, on average, nets nearly a 6 percent lower price than an MLS sale for a similar property. You’ll also be responsible for all the work of an experienced realtor, so if you have other obligations, such as a job or a family, selling FSBO might not be for you.
What Is a Real Estate Broker?
A very abbreviated definition of a Broker from Chapter 1101 of the Texas Occupations Code says: A person who, in exchange for a commission or other valuable consideration or with the expectation of receiving a commission or other valuable consideration, performs for another person one of the following acts sells, exchanges, purchases, or leases real estate (it continues….)
What Is a Real Estate Sales Agent?
A very abbreviated definition of a Sales Agent from Chapter 1101 of the Texas Occupations Code says: A person who is sponsored by a licensed broker for the purpose of performing an act described by Subdivision 1 (Basically does the same stuff as the Broker but with less liability).
What Is the Difference Between a Broker and Real Estate Sales Agent?
Real estate Brokers and real estate Agents do many of the same things with the biggest difference being responsibility. The Broker is legally responsible for the actions of the Agents that he/she sponsors. Real estate brokers earn money by taking a share of the commissions earned by the real estate agents who work under them.
What Is a Realtor?
The Word Realtor is a term trademarked by the National Association of REALTORS® (NAR) which is America’s largest trade association. REALTORS® are required to follow a code of ethics and complete periodic training and re-education to maintain their Realtor® designation.
You can you maintain a Texas Sales Agent or Broker license without being a Realtor. However, it is NAR that provides the Multi-List System (MLS) in Texas which contains all of the real estate sales data and NAR also provides many automated sales and marketing systems for Realtors.
Real estate Brokers, Real Estate Sales Agents, Realtors and Attorneys can all legally help another person sell their real estate in Texas but you must be a member of the National Association of REALTORS® to hold the designation of a Realtor.
When Do We Use the Word Realty?
Since the terms REALTOR® and REALTORS® are trademarked, it’s best to use the words “Realty,” “Real Estate,” or similar terms that indicate the real estate nature of a real estate firm’s business.
The Right Real Estate Agent Is Ready to Help!
We hope you find this information useful. If you decide that you need the services of a Real estate Brokers, Real Estate Sales Agents or Realtor, ROCK Properties Realty provides exceptional service and specializes in residential and commercial Real Estate especially the areas of Austin, Round Rock, Cedar Park, Leander, Pflugerville, Georgetown, Hutto, Liberty Hill, Florence, Bertram, Taylor, Thorndale, Thrall, Jarrell, Buda, Kyle, Manor, Williamson County, Travis County and Bell County.
We promise Integrity, Knowledge, Communication, Pride, Enthusiasm, Diversity, Stability, Caring. Our vision is to perform your real estate experience with visionary people, innovation products, and professional services.
We are a family-owned, full-service real estate services company, committed to professionalism for our clients, our colleagues, and our communities. ROCK Properties Realty have been working in Williamson County, Round Rock for the past 19 years. If you are considering relocating to Round Rock and require assistance in buying or selling your property, we would welcome the opportunity to assist you.