Posted on: 22 June 2018
Whether you're looking for commercial properties or residential properties, you may have noticed that some of your contacts are listed as "brokers," while others are listed as "agents." For many, this is a vague, industry-related term. However, there are a few major differences between a realty broker and a real estate agent that could influence who you wish to work with.
Realty Brokers Generally Have More Education
A realty broker will usually have both more education and more experience than a real estate agent. On the real estate career path, a broker is considered to be a step higher; agents become brokers, rather than the other way around. Though their job duties may be similar, a realty broker is more likely to have specialized knowledge regarding real estate, especially in the area that they practice in.
Realty Brokers Operate Independently
A realty broker has become certified so they can operate on their own. In many cases, this means a broker is actually less expensive and more available, even though they are more experienced and more educated. Comparatively, a real estate professional has to work under a broker and consequently needs to pay the broker a part of their commission in addition to their own profit.
Realty Brokers Can Operate as Agents
Though a realty broker is not a real estate agent, they can operate as either a listing agent (seller's agent) or a buyer's agent because they are a step above an agent. Thus, just because someone is operating as an "agent" in the field doesn't necessarily mean that they aren't a broker, and just because someone is a broker doesn't mean they won't represent a buyer or seller in a real estate transaction.
A broker often has agents working under hem rather than completing their own transactions but that doesn't mean that they won't complete their own transactions. Indeed, having a broker working for you often means that you get to benefit directly from their experience and their knowledge.
A realty broker isn't necessary for most transactions, but it's still good idea to keep in mind the differences between a real estate professional or real estate agent and a realty broker. Realty brokers are generally going to be more knowledgeable about the real estate process, and it may be worth pursuing a realty broker such as Brough Realty if you have a particularly complicated or high-value transaction that you need to complete.Share