A Realtor is a licensed professional who guides you through the buying or selling process. While “Realtor,” “real estate agent,” and “broker” are often used interchangeably, each has distinct roles and qualifications. Understanding their role can help you navigate your real estate journey with confidence.
Read on to discover how Realtors provide crucial support, from pricing to negotiation.
Realtor vs. Real Estate Agent vs. Broker: Key Differences
- Real Estate Agent: A licensed professional who assists clients with buying, selling, or renting properties. They must complete a provincial exam and meet ongoing education requirements.
- Broker: An agent who has completed additional training and passed a broker’s licence exam. Brokers can operate independently and manage other agents.
- Realtor®: A licensed agent or broker who is a member of the Canadian Real Estate Association (CREA). Realtors follow a strict Code of Ethics and professional standards set by CREA.
Why Choose a Realtor?
Working with a Realtor ensures ethical conduct, legal compliance, and professional standards. It offers peace of mind knowing that you’re guided by a committed professional. If you’re looking for expert guidance in Fort McMurray, The Lore Group – Coldwell Banker United specializes in helping clients navigate the local real estate market with confidence and success. Check out our Fort McMurray real estate listings to explore available properties.
Key Roles and Responsibilities of a Realtor
For Home Sellers:
- Property Valuation and Pricing Strategy
Realtors conduct Comparative Market Analyses (CMA) to determine a competitive listing price based on market data and recent sales. - Preparing the Home for Sale
They provide guidance on staging, suggest necessary repairs, and arrange professional photography to showcase the home. - Marketing and Listing
Realtors create high-quality marketing materials, including online listings, brochures, and virtual tours, to promote the property on the Multiple Listing Service (MLS). - Open Houses and Showings
They host events to highlight the property, answering potential buyers’ questions in person. - Reviewing Offers and Negotiating Terms
Realtors help evaluate offers, negotiate terms, and secure the best deal for the seller. - Managing the Closing Process
They coordinate with lawyers, title companies, and buyers to ensure that all legal documentation is completed smoothly.
For Home Buyers:
- Understanding Buyer Preferences and Budget
Realtors help define the buyer’s needs, location preferences, and budget to suggest suitable properties. - Arranging Property Tours
They schedule and attend property showings, providing insights on the home and surrounding area. - Comparative Market Analysis (CMA)
Realtors assist buyers in evaluating whether the price of a property aligns with its location and condition. - Making Offers
They guide buyers in writing competitive and legally sound offers. - Negotiating Price and Conditions
Realtors act as advocates, negotiating favourable terms on behalf of the buyer. - Guiding Through Inspections and Escrow
They help interpret inspection reports, resolve issues, and ensure a smooth escrow process. - Final Walkthrough and Closing Support
Realtors accompany buyers on the final inspection and coordinate the logistics of closing day.
Behind-the-Scenes Efforts by Realtors
A lot of a Realtor’s work happens out of sight, including:
- Coordinating with lenders, inspectors, appraisers, and lawyers
- Managing paperwork and ensuring contract compliance
- Keeping track of deadlines and timelines
- Troubleshooting issues that may arise during the transaction
Specializations in Real Estate
Realtors often specialize in specific areas to better serve their clients:
- Residential vs. Commercial – Homes vs. office or retail space
- Buyer’s Agent vs. Seller’s Agent – Representation for either party
- Dual Agency – One agent represents both parties (where legally permitted)
- Luxury Homes, Investment Properties, First-Time Buyers – Tailored expertise based on client needs
Tools and Technology Realtors Use
Modern Realtors rely on several tools to provide excellent service:
- MLS platforms for up-to-date listings
- CRM software for managing leads and client communications
- Real estate apps for market insights and alerts
- Virtual tours and drone photography for enhanced property marketing
How Realtors Are Paid
Realtors typically earn a commission, usually 5–6% of the sale price.
- This is typically paid by the seller and shared between the buyer’s and seller’s agents.
- The commission structure is performance-based, meaning Realtors are motivated to help clients succeed.
Why Working with a Realtor Is Beneficial
Hiring a licensed Realtor offers several advantages:
- Legal Expertise: Realtors are well-versed in contracts, disclosures, and provincial regulations.
- Local Knowledge: They understand neighbourhood trends, school districts, and property values.
- Time and Stress Savings: Realtors manage the logistics of showings, paperwork, and negotiations.
- Better Results: Working with a Realtor improves your chances of achieving a favourable outcome.
Questions to Ask When Hiring a Realtor
Before hiring a Realtor, consider asking:
- How long have you been licensed?
- What areas do you specialize in?
- How many recent transactions have you completed?
- What is your communication style?
- Can you provide reviews or testimonials?
Your Guide, Negotiator, and Advocate
A Realtor is more than just a facilitator—they guide, negotiate, and advocate on your behalf throughout the buying or selling process. Their expertise ensures that you can navigate one of life’s most significant decisions with confidence and clarity.
Whether buying your first home or selling an investment property, working with a skilled Realtor will lead to better outcomes and a smoother experience.
Ready to Buy or Sell? Connect with a Trusted Realtor Today
If you’re ready to take the next step, contact a local licensed Realtor from The Lore Group – Coldwell Banker United, such as Susan Lore, Tristan Parker, Jamie Hewat, Dean Lewis, Sheila Green, or Scott Campbell. Benefit from personalized advice, deep market insights, and exceptional service at every stage of your real estate journey.
Contact us here to get started.