Guide For Sellers: Differences Between Real Estate Agents, Brokers, Realtors & Cash Buyers

Guide For Sellers: Differences Between Real Estate Agents, Brokers, Realtors & Cash Buyers

Are you planning to sell a house fast in Tulsa? There’s a good chance you’ll have to hire a real estate agent or a broker, or perhaps you’ll work with a real estate investor to sell your home. While all these professionals can help you sell your home in Tulsa, they each have their own unique method of operation.

In this article, we’ll walk you through the differences between real estate agents, brokers and realtors so you can choose the right professional when you need to sell your home.

What Is A Real Estate Agent?

A real estate agent is a licensed professional who will help individuals buy, sell, or rent properties. Hiring a real estate agent could be an ideal move if you have been asking “how can I sell my house fast in Tulsa” recently. They’ll connect you with interested buyers, but there is a fee you’ll have to pay for their services. Their commission is usually a percentage of the property’s selling price (generally around 5% to 6%).

Besides connecting sellers and buyers, real estate agents also handle the paperwork related to the sale, and they guide their clients throughout the entire process to ensure that the sale goes smoothly. Agents who represent home sellers are called listing agents. They’ll help sellers list their properties, suggest ways to increase the sale price, negotiate the sale price, and work with buyers to make sure all documents are filed.

What Is A Real Estate Broker?

A real estate agent who continues their formal education and receives a state license goes on to become a real estate broker. Unlike real estate agents, brokers can start their own real estate brokerages and hire other real estate agents to work for them.

A real estate broker does almost everything that a real estate agent does. However, their responsibility goes beyond that of a real estate agent. There are three main types of real estate brokers:

  • Associate brokers
  • Managing brokers
  • Principal/designated brokers1

Real estate brokers receive a share of all commissions earned by the real estate agents working under them.

What Is A Realtor?

Very often, the term realtor is confused with a real estate agent, though they are different. A realtor is a real estate professional who is an official member of the NAR (National Association of Realtors). The requirements to become a realtor are:

  • Hold an active and valid real estate license
  • Do not have any official record of unprofessional conduct
  • Must not have filed for bankruptcy
  • Must be actively engaged in the real estate industry

A realtor is a member of the NAR by paying a one-time application fee and the annual membership fees. All realtors are supposed to abide by the NAR’s code of ethics.

What Is A Cash Home Buyer?

If you’re planning to sell a house by yourself, you might have been approached by cash home buyers in Tulsa. Cash home buyers in Tulsa are NOT real estate agents, brokers, or realtors. They are real estate investors who buy properties and sell them for a profit. Unlike real estate agents and brokers, they do not represent a seller. They connect directly with interested home sellers and pay for their properties with cold cash. Understanding the differences between these different types of professionals can help you sell your Tulsa home the right way.

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