What is the difference between a Real Estate Agent and a Real Estate Broker? Brokers must complete a longer, more detailed and much more difficult licensing process. Working with a broker ensures that you are dealing with a person who has invested much more time, energy, and resources into real estate as a chosen profession. Plus, and this is very noteworthy, brokers can own their own business. They can hire sales agents. Only 20% of real estate licensees have earned a broker’s license. By comparison, sales agents WORK FOR a broker. Agents cannot represent or negotiate the purchase or sale of property on their own. Every transaction involving an agent is supposed to be reviewed and approved by their broker, yet this is where the system often jumps off track. Unfortunately, in most instances, the review and approval that is intended to protect clients occurs after the paperwork has been signed by the client. By then, it’s typically too late. Indeed, the overall level of supervision by the responsible broker is highly suspect today in almost all aspects. A sales agent’s licensing process is much shorter, simpler, much easier to obtain than a broker’s license. About 80% of real estate licensees are sales agents. Being an agent requires much less commitment.
Posted on: Mon, 12 Aug 2013 23:19:39 +0000
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