The real estate industry is comprised of different types of professionals. A lot of people are not able to tell the difference that exists between the real estate broker and the real estate broker. This article is geared towards pointing out the variations that are there between the two kinds of operatives.
In the meantime, check out these real estate agent interview questions.
Whereas the real estate agent is considered as an entry level professional, the broker comes with a certain level of seasoning. Additionally, the prerequisite of being a broker is to have practiced as an agent. For an agent to give advice touching on the industry, he needs to hold the real estate license.
The first difference that exists between the real estate broker and an agent is in the area of licensing. The requirements for licenses vary from one state to the other. An agent is required to go through a specified number of training hours. After successfully completing the education, you will be subject to the relevant licensing exam. Later on, the agent is taken through training that is state-specific in order to qualify to be a broker. However, they must have stayed in that position for three years.
The training content of a real estate broker like BrokerBreakUp is wider and will cover aspects like the estate law and real estate law. For some states, you may be required to undergo checks for criminal background. Other areas that brokers have more insight above the agent include the financing options, property management, construction, and building codes among others.
As a broker, you can work as an independent entity or choose to contract real estate sales people that will work under his supervision. These rules operate differently for every state though most have identical requirements. If you are operating as a broker you are exposed to standards of knowledge that are higher than the agents.
Real estate brokers are better remunerated compare to the agents. This does not come as a surprise considering the level of investment that the specialists have made in their academic and professional pursuits. The higher annual salaries and hourly wages compensate them for their endeavors.
To achieve your dreams of becoming a broker you need to look for the right service provider to get the relevant and right training. Ensure that they have programs that are tailor-made to give you the outcomes that you are looking for. The structure of their education must be designed to be convenient with your daily routine.