Realtor® vs. Associate Broker: What’s the Difference in New Mexico?

To become a Realtor® , you must first become a licensed real estate agent in your state. Then, you must meet additional requirements set by the NAR, such as completing continuing education courses and agreeing to abide by the NAR’s Code of Ethics.

Associate brokers are also licensed real estate professionals, but they are not members of the NAR. To become an associate broker, you must first become a licensed real estate agent in your state. Then, you must meet additional requirements set by your state’s real estate commission, such as having a certain number of years of experience as a real estate agent.

In some states, such as New Mexico, the terms “realtor®” and “associate broker” are used interchangeably. However, in other states, there is a clear distinction between the two designations. For example, in California, only Realtors® are allowed to use the “realtor® ” designation in their business name or advertising.

The term “realtor® ” is a registered trademark of the National Association of Realtors (NAR). In order to use the term “realtor® ,” a real estate agent must be a member of the NAR and must abide by the NAR’s Code of Ethics. New Mexico is one of a few states that does not have a state association of Realtors. As a result, real estate agents in New Mexico are not required to be members of the NAR or to abide by the NAR’s Code of Ethics.

Instead, real estate agents in New Mexico are licensed by the New Mexico Real Estate Commission. The New Mexico Real Estate Commission does not use the term “realtor.” Instead, the commission uses the term “associate broker.” An associate broker is a real estate agent who is licensed by the New Mexico Real Estate Commission and who is associated with a qualifying broker.

So, which designation is right for you? If you want to be a member of a professional trade association and have access to the resources and support that the NAR offers, then becoming a Realtor® may be a good choice. However, if you don’t want to be a member of the NAR, or if you live in a state where the terms “realtor®” and “associate broker” are used interchangeably, then becoming an associate broker may be a better option.

Here are some of the benefits of becoming a Realtor®:

• Access to NAR resources and support: As a member of the NAR, you will have access to a variety of resources and support, such as continuing education courses, networking opportunities, and legal assistance.
• Use of the “realtor®” designation: Realtors® are the only real estate professionals who are allowed to use the “realtor®” designation in their business name or advertising. This can help you to stand out from other real estate professionals and build trust with potential clients.
• Participation in the NAR’s Code of Ethics: As a Realtor®, you are bound by the NAR’s Code of Ethics. This code sets high standards for professional conduct and helps to ensure that Realtors® act in the best interests of their clients.

Here are some of the benefits of becoming an associate broker:

• No requirement to join a professional trade association: As an associate broker, you are not required to join a professional trade association, such as the NAR. This can save you time and money.
• More flexibility in your business practices: As an associate broker, you have more flexibility in your business practices. For example, you can choose to work for a real estate brokerage or you can start your own real estate brokerage.
• More flexibility in your schedule. As an associate broker, you have more flexibility in your schedule. You can set your own hours and you can work from anywhere. This is ideal for people who want to have a more independent lifestyle.

Ultimately, the decision of whether to become a Realtor® or an associate broker is a personal one. Weigh the pros and cons of each designation and decide what is best for you.

Looking for an experienced associate broker in New Mexico to help you buy your next home or list the one you have? Contact Charles today with Pinnacle Real Estate Ruidoso!