The Difference Between Real Estate Agents and Brokers
One of the crucial aspects of entering the real estate profession is learning the industry's language. Words that may seem similar can often have very different meanings. This includes how professionals refer to each other and others in the business. While real estate brokers and real estate agents can each sell real estate, for example, there are significant differences in what the positions involve.
A Real Estate Agent
A real estate agent is a person who has completed the courses required, successfully passed a real estate exam and obtained a license for real estate sales in a particular state. Each state has its own requirements and has its own examination. When signing up for an exam preparation course, especially online, you'll want to make sure it offers a curriculum pertinent to your state's exam. Once an agent gets a license, he is now qualified to sell real estate in the state where he is licensed.
A Real Estate Broker
A real estate broker is a real estate agent who has met his state's standard's for becoming a broker. Each state will have its own requirements for becoming a broker, but they frequently include a minimum amount of years serving as a real estate agent, a significant amount of additional hours of education, and passing a state brokers license exam. These exams often have statewide and national real state related questions. Once a broker license is acquired, a broker can not only provide the services of a real estate agent, he can also hire other real estate agents to work under his broker's license. He then becomes responsible for the actions of these agents and is qualified to resolve issues involved in a real estate transaction.
The difference between a real estate agent and a broker is generally one of experience and education.
Your Career Path in Real Estate
Becoming a real estate broker requires having a valid real estate license and passing a broker's exam. Since it also usually requires one, two or three years of experience as an agent, it takes time to even try to qualify to become a real estate broker. Even after acquiring their brokers license, many choose to stay on as an associate broker with their agency to further their experience. Ultimately, some may decide go on to start their own agencies.
The real estate industry affords many opportunities in a choice of related fields. It is one of the reasons many choose to enter the business. The path to becoming a broker and perhaps even starting your own agency may appeal to you. There may be other paths that appeal to you as well. Browse our opportunities here at Realty Scout and you'll get a great idea of some of the exciting career choices available in real estate.