Buying or selling a home generally means needing help at
some point in your journey. But who does what?
Sometimes, consumers use job titles like real estate agent
and real estate broker interchangeably. However, there are important
differences between the two.
Here’s a quick rundown of real estate job titles:
Real Estate Agent vs.
A real estate agent has a professional license to help
people buy, sell, or rent housing in the real estate market.
To become an agent, states require pre-licensing training and
training hours that vary from state to state. Once the training is complete,
aspiring agents will need to take the written licensing exam.
A REALTOR® is a license agent who is a member of the
National Association of Realtors®. As a member, agents subscribe to the
standards of the association and its code of ethics and have access to real
estate market data and transaction management services, among other benefits.
Real Estate Broker
A real estate broker is a real estate agent who has gone
further in education as required by state laws and passed a broker’s license
Brokers continue their education on ethics, contracts,
taxes, insurance, legal issues, how the law applies to operating a brokerage,
real estate investments, construction, and property management. Usually, to
obtain a broker’s license, they must have three years as a licensed real estate
agent needs to occur prior.
There are three types of real estate brokers:
- Principal Broker: also called a designated
broker – each real estate office will have someone with this title. This person
oversees all real estate agents in the firm to ensure agents are operating in
compliance with state and national real estate law.
- Managing Broker: This person works within the
day-to-day mechanics of the office and usually hires and trains new agents, as well
as manages administrative staff.
- Associate Broker: Sometimes called a broker
associate, broker-salesperson, or affiliate broker, works under a managing
The titles of brokers vary from state to state and how they
are accomplished. Brokers, essentially, are not looked at as novices in the
industry, but as having a little more knowledge and experience than an agent.
If you’re looking for more information on who is best to serve you through the journey of buying or selling your home, check out Alliance’s Buyer-Seller Guide for more information.
And as always, Alliance’s Blog will further provide you with current events and happenings in all things real estate.