When selling vacant land, many property owners wonder about the difference between realtor and real estate agent. Understanding these distinctions can help you make informed decisions about who to work with and whether professional representation is right for your land sale.
Both realtors and real estate agents can help sell property, but they have different qualifications and obligations. Let’s explore what sets them apart and how this impacts your land selling experience.
What Is a Real Estate Agent?
A real estate agent is a licensed professional who can legally buy, sell, and lease properties on behalf of clients. To become an agent, individuals must complete pre-licensing education, pass a state exam, and maintain their license through continuing education.
Real estate agents work under the supervision of a licensed broker. They can show properties, negotiate deals, and handle paperwork for transactions. However, they cannot operate independently without broker oversight.
Most agents work on commission, typically earning 5-6% of the sale price split between buyer’s and seller’s agents. For land sales, this can be a significant cost, especially when you consider that vacant land often sits on the market for years.
Understanding What Makes Someone a Realtor
Here’s where the difference between realtor and real estate agent becomes clear. A Realtor is a real estate agent who belongs to the National Association of Realtors (NAR). This membership requires agents to follow a strict code of ethics and professional standards.
Not all real estate agents are Realtors, but all Realtors are real estate agents. The Realtor trademark is protected, so only NAR members can use this title.
Key Benefits of Working with Realtors
Realtors must adhere to NAR’s Code of Ethics, which includes 17 articles covering duties to clients, the public, and other real estate professionals. This provides additional consumer protection beyond state licensing requirements.
They also have access to enhanced Multiple Listing Service (MLS) features and professional development resources. Many Realtors pursue specialized designations in areas like land transactions or commercial properties.
Licensing and Education Requirements
Both real estate agents and Realtors must meet state licensing requirements. These typically include 40-180 hours of pre-licensing education, depending on the state. They must also pass a state licensing exam and complete continuing education to maintain their licenses.
The main difference lies in additional requirements for Realtors. They must join their local association of Realtors, state association, and NAR. This membership comes with annual dues and additional ethical obligations.
Ongoing Professional Development
Realtors often have access to more extensive training and educational resources through NAR. This can include specialized courses on land transactions, market analysis, and negotiation techniques.
However, both agents and Realtors must complete continuing education to keep their licenses current. The specific requirements vary by state but typically range from 10-30 hours every 1-3 years.
Cost Considerations for Land Sellers
Whether you work with a real estate agent or Realtor, commission costs remain similar. The difference between realtor and real estate agent doesn’t typically affect pricing structure.
Traditional commissions can eat into your profits significantly. If you’re curious about your land’s value, you can research how much your land is worth before deciding whether commission costs make sense for your situation.
Many land sellers discover that alternative selling methods can save thousands in fees while providing faster results.
MLS Access and Marketing Power
Both real estate agents and Realtors typically have MLS access, though the level of access may vary. The MLS is crucial for property exposure, as it feeds listings to major real estate websites like Zillow and Realtor.com.
However, land marketing requires different strategies than residential properties. Vacant land appeals to a specialized buyer pool, including developers, investors, and individuals seeking recreational or agricultural use.
Specialized Land Marketing
The most effective agents for land sales understand rural and vacant property markets. They know how to highlight features like soil quality, water rights, zoning restrictions, and development potential.
Not all agents have this specialized knowledge. Some focus primarily on residential transactions and may lack experience with land-specific issues.
When Professional Help Makes Sense
The difference between realtor and real estate agent matters less than finding someone experienced with land transactions. Consider professional help when your property has complex zoning issues, unclear boundaries, or significant development potential.
However, if you own straightforward vacant land and want a quick, hassle-free sale, working with professional land buyers might be more efficient than traditional agent representation.
Alternative Selling Options
Many landowners bypass agent commissions entirely by selling directly to land buying companies. This approach eliminates marketing time, commission costs, and transaction uncertainties.
Direct sales work particularly well for inherited land, properties with tax burdens, or situations where owners need quick cash. The process is typically faster and more predictable than traditional listings.
Making the Right Choice for Your Land Sale
Understanding the difference between realtor and real estate agent helps you evaluate your options, but other factors matter more for successful land sales. Consider your timeline, property characteristics, and financial goals when choosing your selling strategy.
If you need guidance on property values, market conditions, or selling strategies, research your options thoroughly. The right approach depends on your specific situation and priorities.
Remember that both realtors and real estate agents work on commission, meaning they only get paid when your property sells. However, you’ll still invest time in preparation, showings, and negotiations regardless of the outcome.
Want to sell your land fast? Contact She Buys Land today.