In Omaha what is the difference between a Realtor® and a real estate licensee?
You often times hear the term "Realtor®," "real estate agent," and "real estate licensee" used interchangeable and you wonder what is the difference. In Omaha the difference is huge.
First a real estate licensee is anyone that holds a Nebraska Real Estate license. The requirements for obtaining a real estate license in as established by the Nebraska Real Estate Commission are:
1. High school diploma or GED
2. 60 hours of approved pre-license courses
3. At least 19 years old
4. Criminal background check performed by the Nebraska State Patrol
5. Pass the state real estate exam
A real estate license gives the licensee the ability to represent others in the sale of their property. Anyone can represent themselves when selling their own property (such as for-sale-by-owners) but in order to represent someone else you must have a real estate license. For more information on types of real estate licenses check out David Matney's blog.
A Realtor® on the other hand, is someone that not only holds a Nebraska real estate license but is also a member of the Omaha Area Board of Realtors®, the Nebraska Realtors® Association, and the National Association of Realtors®. As a Realtor®, one is bound to abide by the Realtors® Code of Ethics. The Code of Ethics outlines a Realtor®'s ethical responsibilities to the public, clients (people that a Realtor® represents), customers (people that a Realtor® does not represent), and other Realtors®. Note that Realtor® is a registered trademark of the National Association of Realtors®.
Stay tuned for Part Two.
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