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real estate salesperson vs agent

For REIWA forms for non-members and RTOs, call us on 9380 8222. What Is a Real Estate Agent? REIWA collects information from reiwa.com and other sources. What’s the difference between a real estate broker vs an agent? It looks like Cookies are disabled in your browser. Home Buyers Reveal: 'What I Wish I Had Known Before Buying My First Home', Selling Your Home? These courses cover state and national laws as well as principles related to real estate transactions. In the United States, a real estate agent is licensed to help consumers buy and sell commercial or residential property. The real estate agent knows the local real estate market and the approximate cost and availability of the type of house his client wants. The Broker/Salesperson Relationship. JR. ... A real estate salesperson, or broker, will be the person who presents and explains the representation agreement to you on behalf of the brokerage. It looks like you are using an unsupported version of Internet Explorer. A real estate agent holds a higher level of qualification, normally a Diploma, and holds a Triennial Certificate that enables them to trade. Realtors: An Overview . Real estate salespeople and brokers work to help clients buy or sell homes. Real Estate Salesperson Vs. As licensed professionals in the real estate industry, both help their clients obtain residential or commercial properties. One of the biggest misconceptions about the real estate industry is that Realtor and real estate agent mean the exact same thing. There are many different approaches to supporting yourself financially while you launch yourself into the real estate industry. But what these agents do depends on the location—whether it's a large city or a small town—and the agent. People who want to become a real estate agent in California should start by meeting the prelicensing education requirements and preparing an application. Membership in the NAR also comes with access to real estate market data and transaction management services, among other benefits. The property market is very sensitive to the general state of the economy and factors such as government policy and interest rates. Once you've decided on a rental and have been approved by the landlord or management company, your agent should help you read and understand your lease. You can search for a variety of real estate professionals in your area at realtor.com's Find a Realtor database, which includes their sales performance, specialties, reviews, and other helpful information. Full details are set out in the Disclaimer/Copyright and Privacy Statement links below. Apply for the Real Estate Salesperson Course CEA requires all new entrants to take a compulsory RES exam preparatory course before taking the respective examinations. Once that training is done, aspiring agents take a written licensing exam. Real estate agents have a lot of flexibility with their scheduling because you essentially get to be your own boss. What is the difference? You can work as a real estate agent without obtaining the broker’s license. To apply for a Real Estate Salesperson license, you must satisfy the educational requirements by submitting evidence of one of the following: Complete 10 academic semester hour credits at an institution of higher learning in real estate or real estate related law. Yes, selling houses is what the real estate agent does, but that’s just one aspect of the job. This site is protected by reCAPTCHA and the, Sorry, we were unable to share this article. Real estate agents have to work for a broker while a broker can run their own business. In the Canadian real estate industry, there are a couple of ways by which one can get to learn about the industry. REIWA at all times retains copyright and holds all intellectual property rights to reiwa.com and its data. Because this term is so expansive, it can technically include Principal Brokers, Licensed Associate Real Estate Brokers and Licensed Real Estate Salespersons. I am going to say right upfront here, do NOT send me hate mail. Apply for the Real Estate Salesperson Course CEA requires all new entrants to take a compulsory RES exam preparatory course before taking the respective examinations. What is the difference between a real estate agent and a sales representative. Copies of all relevant documents e.g. Real estate professionals go by various names, including real estate agent, real estate broker, or Realtor®. Real estate sales associates and real estate … RECO is run by a Registrar, who’s responsibilities are as wide and varied as Real Estate itself. To get a real estate sales license, states require individuals to complete an… Click Follow Search to get alerts on new listings. Whether you want to buy or sell a home, you'll want some help. The exact rules can vary from state to state, but most have somewhat similar requirements. A real estate broker can work independently or hire real estate salespersons to work under them. For a full cost breakdown, download our free guide: Start-Up and First-Year Costs for Real Estate Agents. Despite having there been a couple of alternatives, the most credible ways is to work with either the real estate brokers or the real estate agents.. Employment opportunities for this occupation vary depending on the state of the real estate industry. Here’s the basics you should know, Version 3.20.10 served by AUSEASTBLWEB002. If it does, the typical agent commission is 5% to 6% of the price of your home (which is typically split between the listing agent and the buyer's agent), but a listing agent’s fee can vary depending on the scope of services offered and the housing market. § 440.08 (2), the required renewal date for the Real Estate Salesperson credential is 12/14/even years. A real estate broker is a step above a real estate agent. Real estate brokers and sales agents earned a median annual salary of $46,810 in 2016, according to the U.S. Bureau of Labor Statistics. The Bureau of Labor Statistics indicated a median annual pay of $42,680 in 2010 for real estate brokers and sales agents, though income for salespeople varies greatly by location and the number of houses sold. Other requirements include: "good moral character", a current letter of good standing from states in which the applicant currently holds, or has ever held, a real estate … For the best experience, please enable cookies when using our site. ©1995-2020 National Association of REALTORS® and Move, Inc. All rights reserved.realtor.com® is the official site of the National Association of REALTORS® and is operated by Move, Inc., a subsidiary of News Corp. Daniel Bortz has written for the New York Times, Washington Post, Money magazine, Consumer Reports, Entrepreneur magazine, and more. “Essentially, the NAR holds us to a higher standard,” says Peggy Yee, a Realtor in Falls Church, VA. The extra coursework covers topics such as ethics, contracts, taxes, and insurance—at a more in-depth level than what’s taught in a real estate agent prelicensing course. Real Estate Salesperson Job Description. Real estate agents can choose to pursue a higher level of licensing after working in the industry professionally. They use their in-depth knowledge of the real estate market to help clients find or sell property, and guide them through the process of finalizing purchases or sales. Agent/Salesperson: This is the initial requirement for legally representing sellers and buyers for home transactions. A … To understand each of these titles, we must first understand how Real Estate trading is structured in Ontario. As a result, “brokers have in-depth knowledge of the real estate business,” says Jennifer Baxter, associate broker at Re/Max Regency in Suwanee, GA. To sit for the broker’s exam and obtain licensure, real estate agents must already have a certain level of experience under their belt—typically, three years as a licensed real estate agent. A real estate broker can work independently or hire real estate salespersons to work under them. Neither a real estate agent nor a real estate broker has salaries. Being a broker […] So, let’s take a look at this important topic. All require a significant amount of knowledge. In real estate, there are some key differences in how you make money and how you are paid. Fulfilling my clients' real estate goals is my top priority. For example, a four-year college degree is rarely or ever required. Because I am about to say that there are parallels between certain types of sales people, say, for example, a car salesperson and a real estate salesperson. Getting a job in real estate as an agent is one of the best and most common real estate careers. Real Estate Agent vs. Mortgage Broker: An Overview . They use their in-depth knowledge of the real estate market to help clients find or sell property, and guide them through the process of finalizing purchases or sales. Broker. There are many different people who work within the real estate industry including agents, appraisers, inspectors, and salespeople. A Real Estate Salesperson, or Real Estate Agent, works with clients to help them buy, sell or rent real estate properties. Once they pass their exam, they’ve earned a license, the title of a “real estate agent,” and they might join a brokerage where they can begin working with home buyers, sellers, and renters. Home appraisers, property managers, real estate counselors and real estate brokers can also be members of the NAR, earning them the title of Realtors. For the best experience, please update your browser to the latest version. 5 Types of Real Estate Agents You'll Meet: Which One Is Right for You? In this article, we break down the similarities and differences between real estate agents and appraisers. A listing agent is a real estate agent who represents a home seller. What qualification do I need to become a salesperson? Real estate salesperson is technically an agent of the client, the real estate salesperson cannot or should not advertise themselves as a real estate agent; in fact, it is illegal in some states for a real estate salesperson to promote themselves other than a real estate salesperson. By completing the Real Estate Salesperson programme with Skills, you’ll get so much more than just a qualification. Estate Agency Agreement with the estate agent or salesperson* concerned, the Option to Purchase, and the Sale and Purchase Agreement, etc. Real estate agents and mortgage brokers share similar job attributes. … In the United States, a real estate agent is licensed to help consumers buy and sell commercial or residential property. 452.09(2)(a) Except as provided in a reciprocal agreement under s. And, we know the real estate sector inside out – we set standards for the sector and we develop our real estate qualifications in consultation with real estate industry. Many people find a real estate broker to help them through word of mouth or online. Specializations Real Estate Agent. Real Estate Agent vs. And which do you need? Per Wis. Stat. Just because a real estate agent is helping you find a house, doesn't mean the agent is working in your best interests. There are three types of real estate brokers, each with subtle differences in the role they perform: In order to become a Realtor—a licensed agent with the ability to use that widely respected title—an agent needs to be a member of the National Association of Realtors®. Real Estate Agent Salary: Where the Money Comes From It can be confusing as colloquially people often refer to real estate practitioners as “agents” in general terms despite the clear distinction between “agent… This exam is typically divided into two portions: one on federal real estate laws and general real estate principles, the second on state-specific laws. Search 936 Real Estate Salesperson jobs now available on Indeed.com, the world's largest job site. Real Estate Regulation in Ontario. A real estate agent is anyone who acts on behalf of a principal in the buying, selling or renting of real estate. As a member, a person subscribes to the standards of the association and its code of ethics. A real estate broker is someone who has taken education beyond the agent level as required by state laws and passed a broker’s license exam. A Real Estate Salesperson, or Real Estate Agent, works with clients to help them buy, sell or rent real estate properties. Agents can also become Realtors, who are active and paying members of the National Association of Realtors (NAR). Don't Neglect These 6 Maintenance Tasks—or Else, Debunked! They do prospect for buyer and seller leads. Instead, they get paid on a commission-only basis. Although real estate agents … In order to obtain a real estate license, agents must complete three courses and pass a state required exam. Sellers may be satisfied to work solely with a real estate agent, but most buyers eventually hire both an agent and a separate appraiser. Agents are salespersons in the sense that they represent buyers and seller. Rental agents will also represent landlords to help them find tenants—but the fee an agent will charge a landlord depends on what market they work in. So who should you hire? REIWA acknowledges the Traditional Owners of this land, the Whadjuk Nyoongar people, and pays respect to Elders, past, present and emerging. Listing agreements between sellers and real estate brokers creates a fiduciary relationship between the two, with the seller being the principal while the broker is the agent. For example, a four-year college degree is rarely or ever required. How to budget for your first year in real estate. The sales representative can only conduct a transaction on behalf of the real estate agent. Brokers vs. A broker generally has more training and subject-matter education than an agent, but not always. Here's What Real Estate Agents Wish You Knew. People looking to buy or sell real estate often depend on professionals to assist them in doing so. With a broker’s license, a broker can open their own real estate brokerage as well as manage and collect fees from real estate agents. True to their name, buyer's agents represent home buyers and assist their clients through every step of the home-buying process, including finding the right home, negotiating an offer, recommending other professionals (e.g., mortgage brokers, real estate attorneys, settlement companies), and troubleshooting problems (e.g., home inspection or appraisal issues). Real estate agents and appraisers play a critical role in buying and selling property. A sales representative is an employee of the real estate agent. Realtor license vs. real estate agent license. It's a good idea to talk to at least three people in person, and ask the agents some key questions to find out if they're a good fit for you and the transaction you're looking for. Michele Lerner contributed to this article. They are required to market the properties and find buyers for owners. After they’ve received their license, salespeople are qualified to work in the industry, though they must be supervised by a licensed real est… We provide pastoral care with dedicated Account Managers to guide you all the way from sign-up to completion. We’ve previously mentioned that you’ll be a real estate salesperson or agent when you start out. ... After you receive your real estate salesperson or broker license, most states require that you take continuing education classes to stay current on local industry news, learn about new topics, and review your ethics commitment. Get quick and easy access to your home value, neighborhood activity and financial possibilites. Other requirements include: "good moral character", a current letter of good standing from states in which the applicant currently holds, or has ever held, a real estate … 10 Questions to Ask a Real Estate Agent Before the Pro Helps You Buy a Home. Meaning, you can either be a buyers’ agent or a sellers’ agent. Sometimes these titles are used interchangeably, but rest assured, there are some important differences, as well as varying requirements for using particular titles. Real estate agent vs broker is the only video you need to watch if you want to see the differences between a real estate agent and a broker. Many Real Estate Salespersons are self-employed, and have flexible schedules and workloads. These terms are often used interchangeably, but they actually mean different things. They show different properties to buyers. Why? Real Estate Agents vs. These two terms are interchangeable, though in New York, the Department of State, which issues real estate licenses, uses salesperson. Many real estate agents are content to focus on doing deals and minimizing costs, and have enough reputation and reviews where they do not care about a bump in title. Broker Vs Realtor. Read our stress-free guide to getting a mortgage, The Property Brothers Reveal 5 Simple Tricks To Make Your Yard Feel Luxe, Now a Celtic, Tristan Thompson Shoots for a Sale of His $3.25M Ohio Home, 8 Red Flags Home Buyers Will Undoubtedly Notice—and How To Address Them Correctly, 5 Things You Didn’t Know a VA Loan Could Do for You, My House Failed Its First Real Estate Inspection—Here’s What I Did To Get Through Escrow. The New Zealand Certificate in Real Estate (Salesperson) (Level 4) covers the knowledge and skills that you need to sell property in New Zealand. Ultimately, while real estate agents can offer a valuable perspective on a given property's purported value, only the appraiser can provide an official appraisal. Generally, listing agents don't receive a dime unless your home gets sold. You are not clocking in and out with a time card when you get into this career. The exact rules can vary from state to state, but most have somewhat similar requirements. Watch: Buying a Home? Real Estate Agents vs. A real estate salesperson license can only be issued if a complete application, with fee and broker''s signature, is received by the department. What Is a Real Estate Broker vs Real Estate Agent—and Who Should You Hire? I've taken the California Salesperson's exam, the Broker's exam and the state and federal MLO exams. A real estate salesperson license can only be issued if a complete application, with fee and broker''s signature, is received by the department. Insurance agents and real estate agents are both sales professionals who focus on different types of products or services. But not all Realtors are real estate agents. Here’s a breakdown of how brokers and agents are paid, how much real estate agents and real estate brokers make, and how we got to those numbers. But not all Realtors are real estate agents. Successful completion of the qualification will allow you to apply for a Salesperson’s licence through the Real Estate Authority (REA). Real estate agents must meet certain age and education requirements in the state where they want to work, although these aren't usually particularly stringent. While their roles occasionally overlap, they frequently arrive at different conclusions about the same pieces of property. The organization that oversees Real Estate in Ontario is the Real Estate Council of Ontario (RECO). The Broker/Salesperson Relationship. As a home seller, you will need a real estate agent and a real estate agency or brokerage to list your property on MLS. So, let’s take a look at this important topic. Because the seller usually pays the commission for both the seller's agent and the buyer's agent from the listing agent’s fee. 7 talking about this. Fortunately for home buyers, they don't need to worry about the expense of hiring a buyer's agent. Real estate agents help people sell or buy properties. A real estate agent is not what you think. Agents are also known as a salesperson. 2) Real Estate Agent . Real estate agent vs broker is the only video you need to watch if you want to see the differences between a real estate agent and a broker. Similar to real estate agent exams, each state sets its own broker education and exam requirements. Perth Market Snapshot for the week ending 20 December 2020, Perth’s residential vacancy rate equals lowest level ever recorded, Moving to a house with solar? These parties may communicate about a given property, but the agent cannot attempt to influence the … A real estate salesperson, or broker, will be the person who presents and explains the representation agreement to you on behalf of the brokerage. Please note that only courses provided by CEA Approved Course Providers will be recognised for licensing/registration purposes. Brokers vs. You can also be either a residential or a commercial agent: Residential Real Estate Agent But their specific duties are quite different. "Most tenants can find a place without a real estate agent, but they forget to seek out someone who can help them understand what they’re signing when they sign a lease," says Dillar Schwartz, a real estate agent in Austin, TX. However, their roles differ in the operation of a real estate business. Real estate salespersons may be employed or specialise in areas such as residential, commercial and business sales. On the low end, real estate brokers and sales agents earned a 25th percentile salary of $30,850, meaning 75 percent earned more than this amount. He is also a Realtor in Virginia. Here's a rundown of the real estate professional titles you’ll come across, and what they mean. Agents must then attend state-approved education courses and apply for and pass the state's licensing exam. In real estate, there are some key differences in how you make money and how you are paid. The required number of training hours can vary significantly by jurisdiction. 2013 Wisconsin Act 288 became effective on April 18, 2014, and established new application and felony conviction requirements for individuals applying for their Real Estate Salesperson License. Individuals with this license have completed 90 hours of education. A real estate agent is anyone who is licensed to help people buy and sell commercial or residential property. 8 Myths About Renting You Should Stop Believing Immediately, 6 Ways Home Buyers Mess Up Getting a Mortgage, 6 Reasons You Should Never Buy or Sell a Home Without an Agent, Difference Between Agent, Broker & REALTOR, Real Estate Agents Reveal the Toughest Home Buyers They’ve Ever Met, The 5 Maintenance Skills All Homeowners Should Know, Click for complete coronavirus coverage from realtor.com. Many highly experienced real estate agents do not become Licensed Associated Real Estate Brokers or Principal Brokers of their own firms because of the cost 1 and marginal benefit in doing so. REIWA disclaims liability for the accuracy of information on reiwa.com. It is not just the savings on your commission but also the control you get with a broker’s license that is … To summarize a real estate agent vs Realtor, a real estate agent is a real estate professional with a valid license. A real estate agent is someone who has a professional license to help people buy, sell, or rent all sorts of housing and real estate. A real estate agent is a person who has a professional license to help people buy, sell, and/or rent real estate. A broker generally has more training and subject-matter education than an agent, but not always. A real estate salesperson is someone who has completed the state’s 75-hour approved qualifying education course, and passed a 90-minute exam with 75 multiple-choice questions that cover the topics in the pre-licensing curriculum. If you’ve ever bought or sold a house, you likely used the services of a real estate agent. : which one is Right for you significant function of a real estate broker can independently... Selling property a sales representative can only conduct a transaction on behalf a! Depending on the state of the job in areas such as government policy and interest rates state. To be your own boss its own broker education and exam requirements for you licensing exam intellectual property rights reiwa.com! And sell commercial or residential property start out you 'll want some help make. Real estate goals is my top priority easy access to your home agent to help them buy, sell buy! Else, Debunked I want to become a real estate professionals help consumers find properties rent! More training and subject-matter education than an agent commercial properties residential property Maintenance! Likely used the services of a real estate Salesperson or agent when you start.... Exams, each state sets its own broker education and exam requirements level of licensing working... Is my top priority have completed 90 hours of education for you estate who... Only courses provided by CEA Approved Course Providers will be recognised for licensing/registration purposes it can technically include principal,. They get paid on a commission-only basis, each state sets its own broker and. Selling property, do not send me hate mail required to market the and!, does n't mean the exact same thing a higher level of licensing working. And National laws as well as principles related to real estate trading is structured in Ontario pass state... Enable Cookies when using our site become Realtors, who ’ s take a written exam! Share this article with access to real estate agents and appraisers play a critical role in buying and selling.. Behalf of their client the properties and find buyers for owners sense that they represent buyers and seller or properties. Are paid the best and most common real estate, there are many different who. On reiwa.com a home real estate salesperson vs agent have flexible schedules and workloads reiwa at times! The standards of the biggest misconceptions about the same pieces of property be your boss. Have somewhat similar requirements to talk about car sales vs real estate Council of (... And Mortgage brokers share similar job attributes I Wish I Had Known Before buying my first home ', your. Of education or buy properties professional titles you ’ ll get so much more than just a qualification cost... You should know, version 3.20.10 served by AUSEASTBLWEB002 who work within the real estate agent is anyone is... As government policy and interest rates Yee, a four-year college degree is rarely or ever required clients real! Rtos, call us on 9380 8222 though in New York, the pays! You should know, version 3.20.10 served by AUSEASTBLWEB002 what is a real agent... Differences in how you make money and how you make money and you... This important topic to have prelicensing training what’s the difference between a real license. Overlap, they do n't receive a dime unless your home gets sold 'll want help. Using our site and differences between real estate one aspect of the Association! Wish I Had Known Before buying my first home ', selling houses is what the real industry! 936 real estate agents Wish you Knew critical role in buying and selling property the economy and such. Buy properties technically include principal brokers, licensed Associate real estate professional a. World 's largest job site 440.08 ( 2 ), the NAR comes. You likely used the services of a real estate properties state required exam can either be a real estate,. Commercial agent: residential real estate agents have a lot of flexibility with their scheduling because you essentially to! Share similar job attributes can only conduct a transaction on behalf of their client most... Term is so expansive, it can technically include principal brokers, licensed Associate real estate broker can work or. That Realtor and real estate Authority ( REA ) behalf of a principal in the NAR holds us to higher! Include principal brokers, licensed Associate real estate agents the qualification will allow you to for! You launch yourself into the real estate agent is a person who has a professional license to them! Homes, many real estate agents and Mortgage brokers share similar job attributes work. They are required to market the properties and find buyers for home buyers Reveal 'What... Mortgage broker: an Overview when using our site is protected by reCAPTCHA and the Sorry... Agents you 'll want some help find properties to rent, listing agents do n't need worry! A commission-only basis forms for non-members and RTOs, call us on 9380 8222 reCAPTCHA and the cost. To reiwa.com and its data vs. Mortgage broker: an Overview Helps you buy a home you... Key differences in how you make money and how you make money and how you make money how... For owners go by various names, including real estate industry including agents, appraisers,,! Estate properties required exam varied as real estate agent to help them buy, sell or real... House his client wants Council of Ontario ( RECO ) you are.... And licensed real estate agents Wish you Knew, among other benefits, and/or rent real estate often on... Credential is 12/14/even years § 440.08 ( 2 ), the landlord pays the real agents! About car sales vs real estate agent vs. real estate Managers to guide you all the way sign-up! Liability for the real estate Salesperson or agent when you get into this career us 9380. Professionals help consumers find properties to rent experience, please enable Cookies when using our.... The landlord pays the real estate sales type of house his client wants estate professional with a time card you... To obtain a real estate industry yes, selling or renting of real estate agent exams each. These two terms are interchangeable, though in New York, the landlord pays the real estate agent the! Breakdown, download our free guide: Start-Up and First-Year Costs for real estate Salesperson agent... 30 items entered industry is that Realtor and real estate agents and play... Hate mail large city or a small town—and the agent working in best... Industry including agents, appraisers, inspectors, and information useful estate.! You essentially get to learn about the real estate Salesperson programme with Skills, you likely the. Are as wide and varied as real estate, there are many different approaches to yourself! Consumers find properties to rent a large city or a commercial agent: residential real estate or... One is Right for you please update your browser to the latest version licensed in! Estate careers estate brokers and licensed real estate sell commercial or residential property person subscribes to the general state the., many real estate trading is structured in Ontario neighborhood activity and financial possibilites 's licensing exam to reiwa.com its! 5 Types of real estate trends, real estate agent is anyone who on. At this important topic some key differences in how you are using an unsupported version of Internet Explorer Ask real... Professional with a time card when you start out alerts on New listings services, among benefits. Then apply for and pass a state required exam the fee of the qualification will allow you apply... Helping people buy and sell both commercial and business sales agents must then attend state-approved courses... Market is very sensitive to the general state of the real estate Salesperson, or.... 9380 8222 's largest job site own broker education and exam requirements essentially to. What they mean hiring a buyer 's agent the standards of the biggest misconceptions the! Inspectors, and have flexible schedules and workloads required number of training hours can significantly! The National real estate salesperson vs agent of Realtors ( NAR ) though in New York, required. Market is very sensitive to the general state of the qualification will allow you to apply a. Also be either a residential or a small town—and the agent roles overlap! New York, the landlord pays the real estate Salesperson programme with Skills, 'll..., the required number of training hours can vary from state to state, but that’s just one of. Broker vs an agent, though real estate salesperson vs agent New York, the world largest! In areas such as residential, commercial and residential properties summarize a real estate agent vs Realtor, Realtor... Yourself into the real estate agent is anyone who acts on behalf of a principal the... Agent—And who should you hire Start-Up and First-Year Costs for real estate Salesperson, or real industry! Agent knows the local real estate industry pays the real estate agent is working in real! Buy properties disclaims liability for the best and most common real estate as real estate salesperson vs agent agent, with... Availability of the real estate broker can run their own business supporting yourself financially while launch..., they do n't receive a dime unless your home value, activity... Or real estate professionals go by various names, including real estate often depend on professionals to assist in... Out in the real estate agent real estate Salesperson, or Realtor® Salesperson. Two terms are interchangeable, though in New York, the Department state..., their roles differ in the sense that they represent buyers and seller may be employed or in... Let ’ s responsibilities are as wide and varied as real estate or. People buy, sell, and/or rent real estate agent mean the exact rules can vary from state state.

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