Searching google for Real estate agents Toronto or Realtors Toronto is actually two different searches, despite what most people think.
Getting real estate property to buy isn’t easy business. While the entire process of finding that dream house is definitely not as stressful now as it used to be, it still takes a little bit of a toll, when doing it right. Once you’ve assessed property after property and finally decided on which one you’re willing to look over physically, you’ve reached the point where you need to request the presence and services of a real estate professional. One thing that is very important to take note of when you reach this stage of the house-buying cycle, the kind of professional as well is their level of expertise goes a long way in determining how smooth and successful the process of buying that property will be for you.
In Toronto, once you’ve reached the stage where you’re ready to start visiting the real estate properties that interest you, it isn’t really possible to do this on your own (unless it’s an open house). This is the part where you hire professionals in the field of real estate. You can either hire a realtor or a real estate agent. We’re certain we know what you’re thinking right now. You’re probably wondering, don’t both types of professionals handle the selling of real estate? Is there actually any difference in who they are and how they operate?
Well, we certainly understand why you would think this. It is very common to see a lot of people using both those titles in place of each other. While it might actually sound right, that isn’t exactly the case. There are a lot of things about the roles, responsibilities and abilities of a realtor that separates it from a real estate agent.
It is safe to say that know these differences and how they affect you and how you get your new home would really help. Knowing exactly what kind of services a real estate agent or realtor would offer you upon hiring them can help you determine which professional would better suit your needs at any given point in time.
So what should you expect from a realtor? How do services of a realtor differ from what a real estate agent would offer? Which professional should I go with if I’m looking to easily secure a condo assignment in Toronto? We’re here to tell you all you need to know about that! Here goes!
Real Estate Agents and Realtors: The Job and the Difference
Individuals who have been fully trained to assist interested parties in seeking out and successfully acquiring real estate properties in an area are known as real estate agents. To be able to qualify as a real estate agent, interested individuals must undergo professional courses to equip them with the basic tools of the trade, and once this is done, they sit for a number of exams to confirm that they have understood all that is required of them. The requirements for qualifying to be a real estate agent can vary greatly from province to province, meaning that the certificate licensing a real estate agent to operate in one may not be used to operate in a different province.
On the other hand, a realtor is someone who has not only successfully completed the various courses and examinations needed to qualify as a real estate agent but has also been registered with, and accepted into the CREA (Canadian Real Estate Association).
Moving on, what attributes separates realtors from real estate agents?
As we briefly described above, to qualify to become a real estate agent, the individual must have completed professional courses as well as passed examinations. This is in accordance with the requirements of the area/province that the real estate agent wants to work in. Essentially, realtors have to pass through that same process as well. Where the difference lies between a realtor and a real estate agent here is that the realtor must continue this process and pace of learning, especially after having become a certified realtor. The learning goes on for the entirety of the realtor’s career.
The job of a realtor quite literally demands they be constantly kept in the loop on all new matters like legislation and other factors that affect or shape the real estate market. This means that while a real estate agent simply goes on practicing after having fulfilled all necessary requirements and so doesn’t need to study anymore realtors on the other hand aren’t afforded that luxury.
Virtually every realtor who is involved in condo assignments in Toronto is very familiar with all the real estate laws, new and old, how the legislation affects the process of buying and selling real estate pieces. They know and understand every trend, pattern and practice that influences the market. One reason for this is that their knowledge of these things are constantly being tested and assessed, so they need to be at the top of their game.
Should you be considering getting a condo assignment anywhere in Toronto, there’s no doubt that either a real estate agent or a realtor can quickly help you sort this out. It is important to remember that the even though either party can render the service you need, the extensive training that realtors receive and the vast knowledge they constantly gather about the area puts them in the best position to cater to your needs.
Even though it’s true that real estate agents and realtors operate in the exact same niche, how each party carries out the various services they render is very different. For real estate agents, the mode of operation is very effective, efficient, and ultimately gets the job done, with realtors, there is a slight adjustment to this style of working.
Realtors work in a highly disciplined and coordinated manner. While the avenue to be as creative as possible certainly exists for them, there is something that guides their mode, method and behavior that real estate agents do not have. It is called a binding code of ethics. This code has been so carefully ingrained into how realtors interact and deal with buyers wishing to secure a good home that it has simply become second nature for them. The ethical code of conduct that governs how realtors handle the business of homeowners is such that it may be very hard to find a realtor in all of Toronto who doesn’t work by its standards, especially when it comes to dealing with condo assignment.
This code which has been in use since just before the dawn of the 20th century sees to it that the business of the realtor is conducted in a completely open-handed manner. It covers every corner of the business responsibilities of a realtor, even to very basic affairs such as dictating how a realtor is to behave before, during and after each transaction with a willing homebuyer.
Protecting the interests of the homebuyer is one thing that is considered top priority in the real estate world (see this case of a costly lesson for a Newmarket couple). This is a major reason why violation of the code of ethics by a realtor is always followed by strict penalties. Often times, when a realtor is discovered to be in breach of these standards, the body in charge of overseeing the affairs of realtors, the Canadian Real Estate Association almost certainly terminates the membership of such realtor.
Although not in great detail, quite a lot has been said about this prestigious organization. The Canadian Real Estate Association or CREA, for short is basically the regulatory body that oversees everything relating to the actions of personnel in the real estate niche in the entire country. A major difference between the real estate agent and the realtor is the position that the realtor holds in relation to the Canadian Real Estate Association.
Realtors and real estate agents alike undergo a very extensive amount of training before entering the field and fully practicing their profession. There are multiple examinations to pass, courses to finish and competency tests that go into becoming an approved real estate agent or realtor. However, when you consider the pace at which the real estate niche is moving, and the fact that the new changes have been a bit difficult to adapt to, it became necessary for a regulatory body to ensure that no homeowner records any bad dealings in the real estate market. This is one of the reasons why CREA exists in Canada today. The association ensures that there is a standard you can expect to see when dealing with people in real estate. As such, only real estate personnel who have gone through the due process demanded by Canadian Real Estate Association, and have become members of the association have the privilege to call themselves realtors.
Another thing that sets the realtor apart from the real estate agent is the privilege of use the symbol. In Toronto, only certified realtors can mark their company advertisement billboard and things like their business card with the Realtor symbol. The use of this iconic symbol by uncertified real estate personnel is strictly prohibit and can be considered an attempt at trying to misguide homebuyers.
This symbol is considered special and important because it is one of the quickest and most professional ways of identifying a realtor.
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