Realtors are essentially intermediaries between buyers and sellers, so realtors get paid on commission when you close on a property. But who is responsible for that fee, and how much commission do realtors normally take? This article explains how realtor commission works and when they receive their payment.
It’s very common to use the terms “realtor” and “real estate agent” interchangeably, but there is a difference between the two. Realtors are normal real estate agents and National Association of Realtors members. On the other hand, real estate agents are licensed professionals working in the real estate industry. Both real estate agents and realtors assist buyers and sellers in purchasing and selling real estate. Still, only realtors adhere to a code of ethics set by the National Association of Realtors.
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