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#396819 - 12/14/11 04:06 AM Real Estate Agent And Broker ***
RockleAchhari Offline
Member

Registered: 12/05/11
Posts: 16
Loc: US
What is the difference between a real estate agent and a real estate broker?


Edited by RockleAchhari (12/14/11 04:20 AM)

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#396823 - 12/14/11 05:05 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Originally Posted By: RockleAchhari
What is the difference between a real estate agent and a real estate broker?

An Agent (Salesperson) works under the auspices of a Broker, who is vicariously responsible for the actions of the Agent. An Agent is NOT Licensed to act alone; but receives his/her authority ONLY "through" the Broker who holds his/her License.

I consider being an Agent tantamount to being an Journeyman Apprentice working under a Tradesman. With certain documented "experience" the Agent can then seek to be licensed as a Broker.

The details of how this procedure works and what constitutes "experience" varies by jursidiction and Licensing Authority . . . . which is charged with the responsibility for protecting the Public Interest from newly licensed and inexperienced Real Estate Agents.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#396867 - 12/14/11 03:44 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Andy Perkins Offline
Member

Registered: 05/14/10
Posts: 317
Loc: Los Angeles
At least locally, there is no legal difference between a real estate broker and a real estate agent. Technically, the broker IS the agent, and ONLY the broker can have an agency relationship with a buyer/seller/landlord/tenant. The broker may choose to employ licensed salespeople to work under him/her who are authorized to perform acts requiring a real estate license; even so, the client's actual agency relationship is with the broker, not the salesperson.

In terms of day-to-day use, either a salesperson or a broker could be considered an agent. Since the education and experience requirements to get a broker's license are steeper, most "agents" here have a salesperson's license.

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#396997 - 12/16/11 05:01 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
RockleAchhari Offline
Member

Registered: 12/05/11
Posts: 16
Loc: US
Thanks Keep Touching.....
http://www.movepinellas.com/


Edited by RockleAchhari (12/16/11 05:07 AM)

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#397229 - 12/21/11 02:16 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
katherine123 Offline
Member

Registered: 12/20/11
Posts: 30
Loc: Connecticut
Hi,
Brokers are generally required to have more education and experience than real estate agents.

The person one normally deal with is a real estate agent or salesperson. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker's name, not the agent's.

A broker can deal directly with home buyers and sellers, or can have a staff of salespersons or agents working for him or her.

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#397555 - 12/27/11 06:35 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Jessica123 Offline
Member

Registered: 12/19/11
Posts: 45
Loc: Glastonbury, CT 06033
Hi,
A [b]Real Estate broker[/b] is its true sense is the party who acts as an intermediary between sellers and buyers of real estate and a [b]Real Estate agents[/b] required to have certain credentials when it comes to acquiring a license but it is far lesser than a broker.

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#399015 - 01/17/12 01:09 PM Re: Real Estate Agent And Broker [Re: Moris Memo]
Bay Area Brian Offline
Veteran Member

Registered: 06/09/07
Posts: 613
The simplest and most accurate is the broker is licensed to be an agent to the public, and a salesperson is licensed to be an agent to the broker. Thus the salesperson in not licensed to offer agency to the public which most agents think they are licensed to do but they are not, they are simply acting on behalf of the real agent, the broker.

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#405745 - 04/27/12 11:51 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
shurdul Offline
Member

Registered: 04/26/12
Posts: 47
Loc: USA
1st of all Real Estate Agent And Broker must be educated and experienced, active and punctual as well.

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#406047 - 05/02/12 11:53 AM Re: Real Estate Agent And Broker [Re: Vermont]
johnnyloans Offline
Veteran Member

Registered: 03/29/09
Posts: 870
Loc: Los Angeles ,CA
The broker is the person responsible for the supervision of the agent. When a deal closes the broker is paid and the broker pays the agent. An agent can not do business unless his license is held by a broker. A broker can be the agent/associate of another broker or thr broker of his own company or the broker/owner of a franchise or corporation.
_________________________
Johnny James
Real Estate Broker in CA
(855) 898-3354
Greater Los Angeles Area
www.PalmdaleRealestate.biz
Have Car Will Travel
For Those That Google JohnnyJamesBroker@gmail.com

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#407857 - 06/02/12 10:05 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
pauljhon035 Offline
Junior Member

Registered: 06/02/12
Posts: 1
Loc: BD
Developers sold 38 new south beach condos in the second quarter of 2011, and in the process reduced the remaining unsold inventory from the real estate boom in the popular Miami Beach neighborhood to slightly less than 1,200 units, according to information obtained from Miami-Dede Public Records.


Edited by DueDiligence (06/02/12 11:44 AM)
Edit Reason: URL removed

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#408020 - 06/05/12 02:26 AM Re: Real Estate Agent And Broker [Re: pauljhon035]
jaspersmith656 Offline
Junior Member

Registered: 06/05/12
Posts: 2
Loc: U.S.A
Post removed.


Edited by DueDiligence (06/05/12 10:54 AM)
Edit Reason: Off-topic SPAM

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#409306 - 06/28/12 08:20 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
petter Offline
Junior Member

Registered: 06/28/12
Posts: 3
Loc: US


A real estate broker: Is a person who has obtained his certificate of practice and real estate broker who works on his own with his own independent brokerage firm. This is the person who has ultimate responsibility for all property transactions and the one who receives commissions.

A real estate agent: Is a person who has obtained his certificate of practice real estate agent. She is employed by a real estate broker in a brokerage house or an estate agency.

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#409656 - 07/05/12 01:30 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
mwds120 Offline
Member

Registered: 06/29/12
Posts: 41
Loc: Indiana
One big difference, at least in my state (Indiana) is that only the broker may collect the commission.
_________________________
Find 15,000+ homes for sale at www.msWoods.com - m.s.Woods Real Estate, LLC

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#417183 - 12/19/12 08:49 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Ery Kendall Offline
Junior Member

Registered: 12/03/12
Posts: 4
Loc: New York, United States
A real estate broker owns the real estate company and has been a realtor for at least five years and has more schooling thus more real estate knowledge. A real estate agent works for the real estate agency and does not own the company. No you cannot be both at the same time.

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#417314 - 12/21/12 02:31 PM Re: Real Estate Agent And Broker [Re: Ery Kendall]
Bay Area Brian Offline
Veteran Member

Registered: 06/09/07
Posts: 613
I know New York is a independent country, but you don't have to have been a Realtor for 5 years, you never have had to be a Realtor ever. You may have to have been licensed for 5 years but membership in the NAR is not a legal requirement. And there is no such thing as a Realtors license.

Many brokers go to work for other brokers and thus they have a brokers license but do not own the company. They do not have to give up a brokers license and get a salesman's license to work for a broker.

I suspect your not even licensed.

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#417351 - 12/22/12 07:40 AM Re: Real Estate Agent And Broker [Re: Bay Area Brian]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2238
Loc: Outer Banks
Originally Posted By: Bay Area Brian

I suspect your not even licensed.


Probably. This thread was created by a spammer which attracts more spammers.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#417441 - 12/26/12 04:01 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
James smith007 Offline
Junior Member

Registered: 12/26/12
Posts: 3
Loc: Florida, USA
The terminology used to identify real estate professionals varies a little from state to state.Brokers are generally required to have more education and experience than real estate salespersons or agents.

The person you normally deal with is a real estate agent or salesperson. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker's name, not the salesperson's.

A broker can deal directly with home buyers and sellers, or can have a staff of salespersons or agents working for him or her.


Edited by James smith007 (12/26/12 04:01 AM)

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#421296 - 03/08/13 11:45 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Financialfergy Offline
Member

Registered: 03/03/13
Posts: 15
Loc: Toronto
An agent is someone who works for you to find or sell your property. He or she deals with the other party to come to an agreement to purchase or sell the home. A broker provides you with financing from a variety of lenders so that you can close the deal. More information can be found here: fergusonfinancial.ca/your-real-estate-team/

Devon

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#421561 - 03/13/13 12:21 AM Re: Real Estate Agent And Broker [Re: Financialfergy]
johnnyloans Offline
Veteran Member

Registered: 03/29/09
Posts: 870
Loc: Los Angeles ,CA
You are defining a mortgage broker, the post is about real estate broker.
_________________________
Johnny James
Real Estate Broker in CA
(855) 898-3354
Greater Los Angeles Area
www.PalmdaleRealestate.biz
Have Car Will Travel
For Those That Google JohnnyJamesBroker@gmail.com

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#430098 - 11/07/13 11:38 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
4cmortgages Offline
Junior Member

Registered: 11/07/13
Posts: 5
Loc: Dubai
Brokers are generally required to have more education and experience than real estate agents.

The person one normally deal with is a real estate agent or salesperson. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker's name, not the agent's. A broker can deal directly with home buyers and sellers, or can have a staff of salespersons or agents working for him or her.

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#433274 - 02/20/14 08:26 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
BurtonCarys Offline
Junior Member

Registered: 01/17/14
Posts: 3
Loc: Glastonbury,USA
Real Estate Brokers have additional rights and responsibilities to serve the public that Real Estate Agents do not have.

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#436556 - 06/03/14 08:21 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Heine Offline
Junior Member

Registered: 05/02/14
Posts: 3
Loc: USA
The main difference between the real estate agent and broker is the ease of becoming one. Agents are the first step towards building your profile in the industry and brokers are those who are efficient and effective when closing different transactions.

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#437051 - 06/22/14 05:52 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
JamesJam Offline
Member

Registered: 06/15/14
Posts: 53
Loc: california
Hi,
Broker must stand to a high level of industry knowledge and competence as verified by examination. he is able to legally open a brokerage. he take all liability for issues with transactions, and bear additional operating expenses like insurance and legal services.
Real estate agent meet minimal standards of industry knowledge by examination must work for a licensed broker he has fewer responsibilities and accept fewer liabilities, and receive after-expense commission splits from brokers.

thanks
_________________________


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#437178 - 06/26/14 12:43 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Bay Area Brian Offline
Veteran Member

Registered: 06/09/07
Posts: 613
The main difference is a broker is an agent to the public and a salesperson is an agent to the broker and thus not being licensed to be an agent to the public the salesperson must work for a broker in order to work with the public.

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#447456 - 08/26/15 09:09 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Grace Keng Offline
Junior Member

Registered: 08/26/15
Posts: 1
Loc: CA
The real estate agent and real estate broker as for the purpose both are the same work.But one of the big difference, at least vary by state that only the broker may collect the commission, But the agent go through broker to deal with property.


Edited by Grace Keng (08/26/15 09:10 PM)
Edit Reason: some text change

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#452844 - 05/31/16 10:47 PM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Durise123 Offline
Member

Registered: 05/15/16
Posts: 45
Loc: Emirates, Dubai
An agent is well educated but usually haven't much experience about real estate business.

A broker has enough experience about real estate business though they have no liability for any issue.

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#452845 - 06/01/16 12:40 AM Re: Real Estate Agent And Broker [Re: Durise123]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Originally Posted By: Durise123
". . . A broker has enough experience about real estate business though they have no liability for any issue . . ."

You really ought to check your sources because they're WRONG; exactly "how wrong" will vary by specific jurisdiction !

And when you're wrong on one item, everything else you post is cast into doubt.

Do you want that ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#453498 - 07/20/16 04:03 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
mtate4442 Offline
Junior Member

Registered: 07/20/16
Posts: 5
Loc: Canada
So it depends on a country. The first answer is totally appropriate for the USA but in Europe things are different: an agency has its own listings while a broker offers a client listings of its partners (estate agencies)

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#455693 - 12/01/16 01:37 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
Marion James Offline
Junior Member

Registered: 11/30/16
Posts: 3
Loc: FL
The basic difference between the real estate agent and a real estate broker is nothing but, a real estate agent usual works under any licensed real estate organization, whereas, a real estate broker can work by himself/herself. While having adequate assistance regarding the buying of any luxury condominium, people widely prefer to hire the expert real estate agent. The service of this organization is quite amazing regarding this aspect. I took their services for buying a unit in a luxury condominium and acquired satisfactory service from their end.

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#455694 - 12/01/16 02:40 AM Re: Real Estate Agent And Broker [Re: Marion James]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7717
Loc: Vermont's North-East Kingdom
Originally Posted By: Marion James
". . . The basic difference between the real estate agent and a real estate broker is nothing . . ."

Maybe some minimal demonstrated level of "experience", as mandated by most jurisdictions, fills that void of nothingness Marion references . . . . luckily !

An Agent doesn't have to have any experience at all, just a License.

S/he may have (0) years of experience, or may have 20 years of experience; may have closed ZERO Transactions, or may have closed thousands . . . . the Customer will never know without doing some research.

Always consider your sources BEFORE you believe anything.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#457443 - 04/23/17 12:49 AM Re: Real Estate Agent And Broker [Re: Bay Area Brian]
Marksmith Offline
Member

Registered: 03/01/17
Posts: 31
Loc: Maryland
Hi,
A real estate broker has continued his or her education past the real estate agent level and passed the real estate broker license exam. Real estate brokers can work as independent real estate agents or have other agents working for them.

A real estate agent must work for an employing broker and cannot work independently.

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#458700 - 08/11/17 01:14 AM Re: Real Estate Agent And Broker [Re: RockleAchhari]
PriyaK Offline
Junior Member

Registered: 08/11/17
Posts: 5
Loc: Bangalore,India
Both Real Estate agents and Real Estate Brokers are two different terms interconnected with each other.
Real Estate agents are licensed salespersons and they cannot work independently. They need real estate brokers for their work.
Real Estate Brokers can work independently or they can hire real estate agents for their work.

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