Agent, Realtor, Broker, Definitions

"Realtor" has become ubiquitous in the public for defining all kinds of real estate professionals. Although it's the commonly used term, it's not appropriate in many cases. This should serve as a guide to buyers and sellers as to the definition of these real estate professional designations.

Agent: A person who represents you in a real estate transaction. This is a very generic term. It literally means that you have an agency relationship with that person. There are many types of agents.

Salesperson: In Washington state, this is your most common type of Agent. A salesperson is licensed by the state to sell real estate. The state requires real estate classes to be taken and a salesperson exam to be passed.

Broker: A broker is also licensed by the state. Usually, a salesperson/agent takes a large course load of classes to become a broker, including Real Estate Law, Brokerage Management, and Business Management. Brokers in Washington are required to have at least 2 years of experience as a full-time salesperson/agent (there are a few exceptions). Brokers also have to pass another exam, this time with higher qualifying scores. Brokers can manage a real estate brokerage.

Associate Broker: A broker who has been licensed by the state, but works within an office that has a different Designated Broker.

Designated Broker: The broker who is responsible for all activities of a real estate brokerage.

Realtor: A member of the National Association of Realtors - this is a designation of membership, not a state-licensed position. Agents and Brokers must take extra course work in Ethics and adhere to a more stringent guideline of rules for doing business.

In short:
Anyone who represents you is an agent.
That agent can be a salesperson or a broker.
Any of those people can be a Realtor, but are not unless they join the organization.

Oh, and by the way - it's "Real - tor", two syllables. Not "Real-a-tor".

Lake Union Writers Needed

[Image: Seattle PI Staff Photographer: 1936]


The Seattle Floating Homes Association and the Museum of History and Industry are looking for writers whose works have been inspired by or are related to Lake Union. If you know of a local writer who has written something informative about Lake Union or if you recall an article, novel, or historical writing about the area, you can contact either group to submit the piece.



Lorraine McConaghy is the main contact at MOHAI for submissions. Both groups are looking to publish pieces in newsletters and upcoming features on Lake Union's history.

Blue Ridge on Seattle's Puget Sound

Blue Ridge has some of the best Puget Sound views in Seattle. This small neighborhood just north of Ballard and Crown Hill is a pocket of pristine homes and manicured yards. The waterfront homes are usually separated from the Sound by a narrow shore and train tracks.

The streets are sidewalks are maintained well, and it's a wonderful neighborhood to walk on a sunny day. The traffic is almost non-existent, the neighbors are friendly, and there is a real pride of ownership in the area.

Blue Ridge Real Estate - Waterfront Homes For Sale

Snohomish County attached home sales rocket up in March

Attached home sales were up 66% percent from February to March 2009. This increase in real estate sales is significantly higher than the increase in 2008, and a great sign for the condo market that had been slow throughout the winter.

Much of the market activity can be attributed to builders delivering financing incentives, lower prices, and government tax credits available to buyers.

Snohomish County WA Homes For Sale

Snohomish County home sales up 55% in March

Residential home sales in Snohomish County, WA showed a huge increase from February to March, with a 55% increase in total sales. The surprising increase in real estate sales is being attributed to the combination of lower prices, low interest rates, and income tax credits available to first time home buyers.

The increase in Snohomish County home sales mirrors the increases in Seattle and King County, as the entire Puget Sound region has seen healthy gains in real estate sales and lower inventories.

Seattle, King County, Snohomish County Homes

King County Residential Home Sales up 30%

King County and the Seattle area's latest statistics show a big jump in total sales numbers in March 2009. Residential sales volume was up 30% from February to March, and attached home sales volume was up 45%.

The numbers we saw in February represented the usual cyclical increases in Spring for home sales, but the March numbers look like they are influenced by more than just the season. First time buyers and mid-range buyers are definitely getting back into the market. Even though prices are still down somewhat, this kind of sales volume will begin to stabilize the market prices.

Seattle Real Estate

Shoreline, Echo Lake Homes on the waterfront

Seattle-area residents looking for inexpensive waterfront homes can start their search in Shoreline. Prices on the Puget Sound are fairly high, but less-well-known locales like Echo Lake create great opportunities to own waterfront without blowing your budget.

Echo Lake is a small body of water on the North end of Shoreline near Highway 99. There are waterfront condos as low as $150,000 available. For buyers who want a dock, somewhere that they can kayak, or just a place to set a beach chair and relax, Shoreline can create a great chance to own your own part of the waterfront.

Shoreline Waterfront Real Estate - Homes on Echo Lake and the Puget Sound

Windermere Waterfront Homes - on the MLS

Windermere, in Northeast Seattle, is associated by name with a local Northwest real estate brokerage. The neighborhood is not big, and when homes come on the market, they are usually snapped up by one of the local residents or someone who has been "lying in wait" for a chance to live in Windermere.

Waterfront real estate prices are high, but many of the waterfront homes have larger lakefront footage than in neighborhoods to the North. There is currently only one home for sale in Windermere on Lake Washington, at just under $5 million. Homes over $2 million, in general, have been much slower to sell lately, but this is another unique home in a beautiful locale.

Windermere Waterfront Homes For Sale

Magnolia - Seattle Waterfront Homes

Magnolia, the peninsula off the Western side of Seattle, is almost an island - No one drives through Magnolia, only to Magnolia. The sunsets and views of the waterfront on the Puget Sound are beautiful, and the neighborhood is peaceful and quiet.

Homes on Magnolia's waterfront are not often on the market, but there are a couple right now with some very unique features. Starting at $2.5 million, these homes are not in reach for most, but those looking for a secluded spot to live on the waterfront may want to take a look.

Magnolia, Seattle waterfront homes for sale

Leschi - Lake Washington Waterfront Homes

Waterfront Homes in the Seattle have held their ground over the past few years, and the Leschi neighborhood doesn't look any different.

There are a handful of waterfront homes available in Leschi, and they are all over $2 million. The Lake Washington waterfront is picturesque, and the proximity to downtown Seattle and I-5 are perfect for commuters.

Leschi Waterfront Homes For Sale

Belltown's waterfront condos

Belltown is at the North end of downtown Seattle, and doesn't have a lot of waterfront real estate, but there are a handful of condo buildings that are technically on the water.

At the moment, there are just 2 condos in Belltown listed as waterfront, but they're both surprisingly affordable. Both come in under $320,000, which is below the median price point in Belltown overall. These are smaller condos (a 1 bedroom and a studio), but this is entry-level pricing for Seattle waterfront living.

Belltown waterfront condos for sale

Laurelhurst Waterfront Homes

Laurelhurst, in Seattle, rarely has a true waterfront home for sale. When they do come on the market, the highly-sought real estate in this area is usually purchased quickly, even with the high-end prices.

There is currently just one waterfront home for sale in Laurelhurst. It's a $6 million property with more waterfront footage than you'd believe. There are a limited number of buyers for this kind of real estate, but at this price I'd imagine an extremely unique property like this will move in a short time.

Laurelhurst Waterfront Homes For Sale

King County's Seattle Waterfront Prices Stay High

Seattle waterfront homes have long held their value better than other homes, on average. The King County area's most recent statistics are keeping with that trend.

Waterfront home sales in King County for February 2009 held almost the same median price level as February 2008. Median prices went from $451,000 to $446,500, a decrease of about 1% according to the NWMLS. Although the total number of sales was down from 25 homes to 14 homes for the month, sellers stuck to their prices and it looks like it paid off for many of them.

Days on Market actually went down from a median of 91 days to 74 days, which was a surprise in a slower market. There are still buyers in the market for waterfront homes, and they're willing to move when the right home comes on the market.

King County Waterfront Real Estate Prices Up

King County's waterfront home sales have followed Seattle's sales trend of bucking the pricing downturn. According to the NWMLS, while total number of waterfront home sales were down, prices were almost unchanged.

King County waterfront residential home, townhome, and houseboat prices were down just 4.9%, and condo prices were up 3.8% in 2008 vs. 2007. The two practically cancel themselves out, leaving King County waterfront prices flat for the two year period. This, of course, has to be taken in context with the steep drop in total number of sales, with house sales down 39% and condo sales down 43%.


Again, it looks like waterfront home owners are not forced to sell right now, so they don't sell if they don't get the price they want.

Waterfront Seattle Home Prices Increase in '08

Here are some interesting statistics from the MLS for sales of waterfront real estate in Seattle. While the total number of waterfront home sales was down significantly in 2008 vs 2007, median prices actually increased in 2008.

Waterfront residential properties (houses, townhomes, houseboats) had a median price increase of 9.6% (to $1,057,500), and condos had a median price increase of 6.6% (to $437,500). The total number of waterfront homes sold in 2008 was down 50%, and total number of waterfront condos was down 13%.


Much of this can probably be attributed to three factors:
1) Waterfront homeowners, statistically, have more disposable income and assets than your average homeowner, and therefore aren't forced to sell while the market is down. Many owners will hold firm on their price, and others will just pull homes off the market.
2) Many re-furbished/renovated condo conversion projects have come on the market recently, creating higher-priced waterfront condos in the place of older ones, and driving the median prices up.
3) Cliche alert: "They aren't making any more waterfront land." Scarcity supports prices.

Pending US Home Sale Up for Feb

Pending sales moved up 2.1% in February, according to the Pending Home Sales Index. With affordability up, first time buyers are becoming a larger part of the buying market.

While this increase isn't big, it's at least a positive sign that buyers are picking up the distressed properties on the market and starting to stabilize the inventories.

Seattle Waterfront Homes - Lower Prices

If you've wanted to live on the waterfront in Seattle, but thought it was too expensive for you, there are opportunities. With waterfront home prices at their lowest point in years, it's a good time to take a look.

For example, there are waterfront condos on Lake Union in the Eastlake neighborhood of Seatle as low as $335,000.

Watefront condos in Bellevue are starting as low as $269,000. That's actual first-time buyer pricing for a home on Lake Washington.

This may not sound like a deal, but Madison Park Waterfront Homes under $2 Million haven't been seen in a while. This is one of the best neighborhoods in Seattle, with a house and dock on the lakefront.

Waterfront living in the Seattle area is more affordable than it's been in years, and there are deals to be had.

All Seattle Waterfront Homes

Seattle Floating Homes and the DPD

The Floating Homes Association has gotten an update of the Seattle DPD's upcoming regulations for floating homes and houseboats. So far, there are some sticking points that hopefully can be hammered out in the coming months.

The Seattle SMP (Shorelines Master Program) Revision Citizen Advisory Committee is attempting to bring floating homes and houseboats into line with conforming codes for real estate. Many issues such as float size, float depth, setbacks from shore, and impact on habitat are on the table. While the owners are aware of the need for regulation, their obvious interest is in preserving the unique lifestyle on the waterfront.

The replacement of current houseboats seems to be the biggest issue, as "new" replacements would be required to fit a large number of new rules that might make it impossible to actually replace a floating home in the future.

Details can be found here:

http://seattlefloatinghomes.org/node/920