When you are in the process of purchasing a home or property, you can plan on being hit with a lot of jargon you do not necessarily understand. This is normal. After all, we are not all real estate experts.
Learning about the difference between a real estate agent and broker is some very basic knowledge that can get you headed in the right direction.
What Is A Real Estate Agent?
Part of learning the difference between a real estate agent and broker comes with learning the basic duties of each. A real estate agent, for example, is someone you will be working with a lot, so it is best to know what they specialize in and what sort of powers they hold in their respective field. You can think of a real estate agent as a sales person of the real estate industry. These professionals are authorized to act as an agent for the sale of a home or piece of property.
The qualifications and criteria a real estate agent must meet in order to be deemed a legitimate professional varies from state to state. However, all real estate agents must undergo extensive training and a good deal of education to be qualified to advise clients and facilitate transactions.
What Is A Real Estate Broker?
Real estate agents are not allowed to operate independently — they must work under a real estate broker. The broker is the one in charge and manages all of the individual real estate agents. This helps the agents because it takes some of the liability off of their shoulders. If an unhappy buyer or seller tries to sue a real estate agent, the legal action must be directed at the broker.
Brokers have to endure even more intense training and more thorough education to achieve their status. However, M\most would argue that it pays off. Each agent that works for a broker pays the broker a portion of their sales commission. In addition to this money, the broker does not have to share their commissions.
Real estate agents and brokers are both qualified to handle the purchase or sale of your home or property.
Need To Contact Either One?
Now that you know the difference between a real estate agent and broker, and you find yourself needing to contact one, turn to TalkLocal. We can connect you with either in a matter of minutes. Quality help has never been so accessible.
