Many people get salespeople and brokers confused. Well, they are both agents of real estate. A real estate agent is anyone is licensed to advise the public on real estate values.
You should never take advice on a listing from someone that is not licensed.
Real estate agents have gone through lengthy, formal courses and exams to sell property to you.
Positions
A sales person works for the brokers; therefore, brokers are higher up in employment than salespeople are.
They work under the “umbrella” of the broker, meaning they are not independent earners as brokers are.
Sales people can gain their experience and take the required courses and exams to become a broker.
Brokers are permitted to work for themselves or other brokers if they choose.
Education
The education required to become a real estate agent depends a lot, on where you live (or go to school).
Some states require different and longer courses to acquire the needed the license.
In addition, brokers and sales people study different courses while in school.
Salespeople have the legal and ethical side for their education focus, while brokers have management as their key to courses.
If you want to become a broker, here is what you need to do.
Hhow to Become Broker
- Acquire a four-year degree in real estate
- Pass the first (there are few) broker’s exam
- At least two years as an experienced real estate agent
- Eight college-level courses at an approved real estate school, while you go to school there, you will take your second broker’s exam which you have to pass
- Membership to the legal bar; here you will have to pass your third broker’s exam. Keep in mind that the broker’s exams are longer and more difficult than an agent’s exam.
Liability
Brokers are more qualified than that of a salesperson, and are more liable and legally responsible for any mistakes made by their client, as well as any salespeople, agents (other brokers) that work for them.
They do have the benefit of making more money than any other agent makes because they are they “top dog”.
That is why you will see more brokers than salespeople in some areas.
There are many options for real estate in Vermont, Miami, California, and many more states.
Roles
If you are a client (a buyer), you may be wondering what qualifications you should look for in an agent. Look at this list and maybe it will make things easier for you.
- The agent should help with the offers and bargaining to the seller. It would make things easier for you, less stress on you, and allow you to get a good deal.
- Help you apply for financing if you need it. Many new buyers have no idea what they are doing, and it can be very overwhelming thinking of all the things you have to do.
- They should ALWAYS arrange the home inspections. This is part of the agents’ job!
- They should help you find your perfect dream home. You should not be the one searching the internet and newspapers looking for a home. That is the agents’ job, whether they are a broker, or a salesperson.
Real estate is very detailed. More detailed than most people think!
That is why you should always do your research on anything having to do with selling or buying a new home or piece of land.
Featured images:
License: Creative Commons
image source
Guest author Denis is an experienced real estate blogger. He likes to help people through his articles.