Utah Realtor® vs Real Estate Agent
What’s The Difference?
Buying or selling a home in Utah is one of the most important financial transactions you can make. And you don’t want to do it without a Utah realtor. There are numerous considerations including negotiating offers, understanding contracts, proper disclosures, understanding market value, and other rules and regulations that make real estate transactions complex and sometimes hard to navigate.
You don’t want to trust the process to just anyone so it’s likely you’re considering hiring a real estate professional.
Now, you could go with a referral you got from your Uncle Bob or Google “Real Estate Agent Near Me,” but how can you guarantee that this person is the right person for the job? After all, this is a transaction where a mistake could cost you tens of thousands of dollars.
Here’s a tip . . . ,
Look for the REALTOR® designation or ask if your real estate agent is a Utah Realtor.
Why is this important?
Let us count the ways, but perhaps the most important thing you must know about a Utah Realtor is that they are held to a higher standard of ethical practice and excellence in order to carry that designation.
Is There A Difference Between
An Utah Real Estate Agent
and An Utah Realtor®?
The short answer—yes.
A Realtor® is a real estate agent who is authorized to use the Realtor® designation because they are a member of the National Association of Realtors®, which is the largest trade organization in the country for real estate agents. In order to carry that designation, a real estate agent must adhere to a strict code of ethics, have a valid real estate license, and must have a stellar professional conduct record.
While a real estate agent can assist you in the buying or selling of real estate and has passed the state licensing exam, a Utah Realtor pledges to conduct these transactions by upholding the highest ethical standards of the industry which includes the following 17 Articles.
What Are The 17 Articles
That Realtors® Must Follow?
Of course, many real estate professionals adhere to the following code of ethics but here are the 17 articles that Utah Realtors® pledge to uphold:
1- Promote their clients’ interests before their own and treat all parties involved honestly.
2- Avoid exaggerating, misrepresenting, or withholding facts about the property or transaction that are within the scope of their real estate license.
3- Cooperate with other brokers when it is in their client’s best interest.
4- Disclose with their client if they are working with another member of their existing client’s family.
5- Avoid providing professional services regarding a property they have an interest in, unless it is disclosed to the client.
6- Receive the client’s consent and knowledge before accepting any form of payment or commission.
7- Disclose to all parties and receive consent from their client if a payment is to be received from more than one party involved in a transaction.
8- Keep personal funds and clients’ funds separated.
9- Ensure all agreements are clearly and understandably communicated between all parties involved in a transaction, and that each party receives a copy of each agreement.
10- Refrain from discriminating against any person based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.
11- Competently abide by standards of practice in their real estate discipline, and do not provide services they are unqualified for.
12- Remain truthful in their advertising and marketing materials.
13- Do not practice law if they are not authorized to do so.
14- Present all evidence and cooperate if charged with unethical practice.
15- Refrain from making false or misleading statements about other real estate professionals.
16- Do not interfere in another realtor’s contractual relationships.
17- Handle disputes with other realtors through arbitration instead of litigation.
Why Should I Work With A Utah REALTOR®?
As you can see, the ethical standards are client-centric and hold the client’s best interests as the top priority. In other words, your Realtor® has a vested interest in making sure you are represented to the best of our ability versus acting in our own self-interest.
In addition, membership in the National Association of Realtors® gives your agent access to real estate market data and transaction management services which helps your agent better negotiate on your behalf using the most up-to-date market information.
Your Utah Realty Agents
Are Licensed Utah Realtors®
We’re proud to say that we are members in good standing with the National Association of Realtors® and that we carry the Realtor® designation. We take our duties to our clients seriously and we are committed to upholding the highest standards of the industry. You can be reassured that when you work with us, you are receiving the best Utah real estate services possible. Call us today at (801) 893-8880 or visit us online at www.yourutahrealty.com.
Read more about Melanie Pendrey, REALTOR® and Lyndsey Larsen, REALTOR®.