What is the difference between a Realtor and a real estate broker?

A real estate broker holds a higher-level state license: brokers can manage their own real estate businesses and supervise sales agents, while sales agents must work with a broker. A Realtor is not a license type. A Realtor is a licensed real estate professional who belongs to the National Association of Realtors and agrees to follow its Code of Ethics; brokers, agents, and appraisers can all be Realtors, and only NAR members may use the Realtor trademark.

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