Real Estate Broker
There are three general terms used for people that buy and sell real estate: agents, brokers and Realtors. While these are often used interchangeably, there are differences between all three. The most common “real estate person” is an agent. These are licensed individuals who have passed state exams to prove they can work in the field. Being a real estate agent is the starting point for most of the people who fall into the second category.
The second type of real estate salesperson is a broker. These are individuals who, like real estate agents, have passed all the necessary tests to become licensed to buy and sell property. However, brokers are those who have continued their education and passed further examinations. They are one step above agents.
Finally, a Realtor is an agent or broker who is a member of the National Association of Realtors. To become a member, agents and brokers must uphold a certain code of ethics and abide by the association’s standards.
The biggest advantage of being a real estate broker is that brokers are certified to work on their own or have agents working under them. Real estate agents, on the other hand, may only work under a broker. For agents who are working on getting a broker’s license, they may hold a special title called a “real estate associate broker.”
Whether brokers or agents, anyone who works in real estate is certified to help their clients buy or sell property, including ensuring no laws are being broken and their client is not being undercut.