Difference Between an Agent and a Broker
Agent vs Broker
When it comes to real estate, an agent and a broker do not mean the same. A real estate agent independently offers his services to a broker for a certain fee.
A real estate broker however, is a person who is trained for in-field and actual selling of real estate properties for a certain period of time and must have passed an examination exclusively for real estate brokers. The examination covers the basic real estate laws and deals or transactions.
A real estate broker sells real estate properties. While most of them sell residential properties, others sell commercial, industrial and agricultural properties. There are some who are employed by companies. A brokerÂ has to beÂ familiar with the laws governing real estate. He must be adept with the market and financial options. He also handles searching for the title of real estate properties and general marketing.
A real estate broker and a real estate agent do the same job. They gather listings of properties for sale; research the current market and determine market price of a property, and make decision as to which property has to be in the listings.
The difference between an agent and a broker is with their qualifications. A broker must have a license, he must be registered; he has more credentials to his name. A broker must have completed additional coursework aside from what a real estate agent must have completed. He has more schooling and has more responsibilities in the whole course of transaction. He is the one to make sure that a transaction has been completed properly. An agent has lesser credentials and has shorter period of training. Besides, he is just working for the broker. As for client interaction, the agent is usually the one to personally assist and handle the clients. He is the one to handle meetings between the buyer and the seller; he assists the client’s needs, handles filling out contracts, presents possible buyers or properties to clients and handles the negotiations between the buyers and the sellers. A broker may also act as an agent or sales person but the agent cannot act as the broker.
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