What’s the Difference between Real Estate Agents, Real Estate Brokers, and Realtors®
The world of real estate business could be confusing. There are a lot of terms used, and not everyone is familiar with all the specific words being used around here. Even real estate agents confuse themselves sometimes with what they can do and what not. There are almost four-five types of agents under the banner of real estate and two-three different kinds of brokers as well.
Here is a guide that can clear the picture in your mind about the difference between a real estate agent, broker, and Realtor.
What is The Real Estate Broker
A broker is a person who is more trained and educated in their field. A professional real estate broker California is abided by specific laws. However, you will require to get a broker’s license to open an office of your own. In California, it is harder than the rest of the regions to get your broker’s license. To be a certified Real estate broker, an exam has to be taken. For which you’re only eligible if you have four years of a college degree and at least eight real estate courses. If you lack in the area of having a four year awarded college degree, you at least need to have two or more years of experience in the field. Only after which you’ll be able to take the exam. Bar passed lawyers have an excel in taking their real estate exam right away. Brokers are allowed to hire agents or sales person to work for them. In other words, they are free to work independently for their own selves or to work on commission for a more prominent firm.
What is The Real Estate Agent
The broker could employ a real estate agent. Before going into the details of what does a real estate service providers actually do, you need to know the importance of both. However, a real estate broker California level is higher than any real estate agent around the city. Agents are the responsibility of their brokers. Working mostly for a share of commission based on the individual sale of the property. In California, you need to have attended at least three college-level real estate courses to be a certified agent. The age limit for being an agent is eighteen. Although, being a resident of the state is not included as a necessary part
What is a Realtor
A Realtor can be a broker or an agent, who is a part of the National Association of Realtor (NAR). Each and every agent or broker don’t need to be a part of this NAR. The Realtors are holders of a particular code of ethics and are abided to pay individual annual dues.