If you’re new to real estate or thinking about getting into it, you might be wondering what the difference is between a real estate agent and a real estate broker.
“Real estate agent” and “real estate broker” are frequently interchanged words. When both an agent and a broker are licensed to sell real estate, it’s easy to mix the two titles. Both jobs are built on the same foundation. However, in the real estate industry, an agent and a broker are two completely different positions.
The jargon employed in the real estate market can be difficult to understand. However, the distinctions between the two perspectives are clear. Their specialized roles and educational requirements set them apart.
A real estate agent is a professional who works for a brokerage and arranges real estate transactions. A broker might work for themselves to arrange real estate transactions, or they can form their firm and hire real estate agents.
What Is a Real Estate Agent?
Finally, a real estate agent is in charge of bringing buyers and sellers together to enable the sale of real estate or real property. Agents are industry experts who have completed and passed state-specific training and licensing requirements. In real estate transactions, an agent can represent both buyers and sellers. Furthermore, an agent is employed by a brokerage and cannot work independently.
Duties and Responsibilities of a Real Estate Agent
Match a Buyer’s Desire List to Properties Currently on the Market
Real estate agents listen to what a buyer wants and try to match them up by targeting specific communities and evaluating a property’s attributes.
Negotiate and Submit Offers
After a buyer identifies a house they want to buy, the realtor puts an offer and can negotiate until both sides are satisfied with the terms.
Complete Your Purchases
Real estate agents are in charge of guiding clients through the closing process. They finish chores like completing paperwork, organizing repairs and inspections, and navigating the sale’s closure.
What Is a Real Estate Broker?
Brokers usually receive more education than real estate agents. Their education qualifies them to arrange property transactions independently or to run a brokerage and supervise other agents. The essential function of a brokerage firm is to act as a go-between for buyers and sellers during the transaction process. Brokers who own brokerages hire other real estate agents to work for them. Brokers can oversee more technical aspects of real estate deals.
Duties and Responsibilities of a Real Estate Broker
Can Complete All Real Estate Agent Tasks
Before becoming a broker, a person must first pass their state’s real estate licensure exam. They can complete each phase of the real estate buying procedure.
Supervise and Guide Other Agents
Brokers in charge of a brokerage oversee the company’s day-to-day operations, assisting agents with technology, marketing, mentorship, and listings. Many people take additional training courses to become brokers and can assist with difficult real estate transactions.
Is It Better to Be a Broker or a Real Estate Agent?
It all depends on your specific requirements.
Some real estate agents are content to stick with their current team. They appreciate the resources that their brokerage provides. Working for a brokerage gives an agent a strong brand, networking possibilities, and personalized training.