5 Types of Real Estate Agents and Their Industry Specialties

1. Real estate broker

A real estate broker is a licensed real estate agent who has taken additional training and education to obtain a broker’s license, which allows them to either work independently or run a brokerage to manage other agents. All real estate agents in the U.S. are required to “hang their license” with a brokerage.

In short, a broker is the manager of a real estate company. As such, they supervise the day-to-day business duties associated with running an office, which could include human resources (HR) functions like payroll and expenses. They oversee the firm’s agents, resolving issues that arise in their team’s transactions and mediating conflicts for their employees.

Brokers are held to a higher standard than agents and are typically more experienced. They often handle the most complex transaction paperwork for their agents.

2. Realtor®

A Realtor® is simply a licensed real estate agent who is a member of the National Association of Realtors® (NAR). While all Realtors are real estate agents, not all real estate agents are Realtors. To join the organization, one must be a licensed real estate agent, join the local NAR association, and pay annual membership dues ($156 in 2024).

On top of that, a Realtor pledges to uphold the NAR’s Code of Ethics & Standards of Practice. It’s a “strict code of ethics,” Trapp emphasizes, noting that a Realtor® must always put the client’s needs first.

As members of NAR, Realtors® benefit from:

• Access to information webinars
• Code of ethics training
• Market research and technology reports
• Library and research services
• Discounts on certification courses, conference attendance, mobile phones, car rentals, dental and health insurance, and industry literature

In addition, Realtors® have access to inventory that other real estate agents don’t.

3. Listing agent

A listing agent, also known as a seller’s agent, represents the property seller. They have a fiduciary responsibility to protect the seller’s interest above their own. For example, a listing agent cannot tell a buyer that the seller is willing to sell at a lower price than the listing indicates.

Most of these professionals enter into exclusive listing agreements with the seller, meaning the seller can’t list the property with another agent or sell himself for a specified period. The seller’s agent can be a real estate agent or broker.

4. Military Relocation Professional (MRP)

Military Relocation Professionals (MRPs) have completed a NAR training program to serve active and former military service members better.

Approximately 400,000 service members receive Permanent Change of Station (PCS) orders every year. The majority of them choose to live in private housing, meaning they need to sell their home fast upon receiving a PCS. MRPs understand these sellers’ language, needs, challenges, and deadlines.

Trapp says he will “drop everything” for his military clients because New Orleans is a military town. Thanks to having VA lenders among his contacts, Trapp knows that military clients can often get into a house with less out-of-pocket expense than would be required in a rental. He also understands the nuances of funding fees.

Some of the benefits of working with an MRP include:

• They are familiar with the procedures and processes of military relocation.
• They are willing to work with tight deadlines and have a network to help meet them.
• They have relationships with VA lenders and understand the ins and outs of VA financing.
• They have a network of military-specialized tax experts and cross-country moving companies.
• They have exclusive access to resources for marketing military-owned homes.

5. Senior Real Estate Specialist (SRES)

Senior Real Estate Specialists are Realtors® who train to meet the unique challenges and needs of clients aged 50 and over.

Because many seniors have lived in their homes for 10 to 15 years or more, the thought of moving is very emotional. SRES-certified agents counsel senior clients through tough decisions. These agents also learn no-pressure methods and the guidelines and exemptions of senior housing developments and communities under the Housing for Older Persons Act.

SRES training covers many other topics relevant to seniors, such as:

• Capital gains
• Financing real estate purchases with pensions, IRAs, 401ks, and other retirement accounts
• Reverse mortgages
• Medicare, Medicaid, and Social Security’s impact on property and finances
• Senior communities resources
• Estate planning

Qualities to look for in a real estate agent

About 90% of sellers sold with the assistance of an agent. Whether you need a real estate agent with specialty training or not, you’ll want to find the right agent for your situation. Interview at least three candidates to find someone who is compatible with your needs, goals, and preferences and whom you can trust.

Gauge an agent’s expertise with these questions:

1. Local knowledge: How well does the real estate agent know your neighborhood?
2. Specialized experience: Do they have experience selling your property type and price point?
3. Sales approach: What is their marketing strategy: open houses, social media, mailers? What is their marketing budget for your home? Will they have professional photos taken? Trapp underscores the importance of high-quality listing photos.
4. Engagement style: What is their communication method and frequency? Do they take calls after hours? On weekends and holidays? When they’re with another client? How long will it take them to return your calls? Trapp’s version is: When I call, will you answer the phone?
5. Client service: How many clients do they take on at one time? Will you be delegated to work with their assistant, or will you get their full attention?
6. Pre-listing plan: What do they suggest to prepare your home for sale? A good agent knows which projects net a quick return on investment and what features buyers are looking for in your area.
7. Industry connections: How broad is their professional network? Can they recommend contractors, inspectors, cleaners, painters, stagers, and other tradespeople to get your house ready to sell?
8. Pricing strategy: How do they determine the listing price? Do they prepare a comparative market analysis (CMA), a report analyzing homes of comparable size that have recently sold in your area?

Trapp’s ultimate question is: What will you do for me that other agents won’t? “An agent should always look out for the client’s best interests, regardless of the commission structure,” he adds.

Find the best real estate agent for your home sale

The majority of sellers use a real estate agent to sell their home. 66% of recent sellers chose a professional referred to them or they had worked with in the past to buy or sell a home. However, you’ll likely find a better agent for your unique home sale needs if you conduct your own due diligence.

Let HomeLight do some of the legwork for you with our agent matching service. This free service analyzes more than 27 million transactions plus reviews and helps you find the top real estate agent in your area, based on key data like list-to-sale-price ratio, years of experience, local contacts, and knowledge of the area. Connect with a proven agent today.

Header Image Source: (Amari James / Unsplash)