The terms Real Estate Agent and Real Estate Broker are often used interchangeably. The jobs are similar so it’s easy to confuse the two, however, an Agent and a Broker hold two completely different jobs. The biggest way to differentiate between the two is to understand that they differ in specific responsibilities and hold different education requirements. Heights Title can help you understand the difference, this will aid you when deciding to go through the process of buying, selling, or renting a home.
Difference Between A Real Estate Agent and A Broker
A Real Estate Agent is someone who is licensed to help people buy, sell, or rent property also known as real estate. A Real Estate Broker is someone who has gone over and beyond to get their state real estate broker license. A broker differs from an agent because they can work independently, start their own brokerage, and even hire other Real Estate Agents to come to work for them. Most importantly they can just solely work as a broker as well without any of the other things.
What It Takes To Be A Real Estate Agent Do
A Real Estate Agent is an expert in the industry. They are required to pass all courses specific to the state they work in order to obtain their license. If they were to move to a new state to work they would then be required to get another license for that state because every state has different and specific requirements. Real Estate Agents are able to represent both buyers and sellers. They are not able to work independently, Real Estate Agents must also work under a licensed brokerage. This should not be confused with a Real Estate Agent having to have a partner, they work for themselves and they can work either with or without a partner or team but they all must be under a licensed brokerage.
Responsibilities of A Real Estate Agent
A Real Estate Agent has to listen to what a buyer is specifically looking for in a home to target specific neighborhoods and properties. Once the buyer selects a property that they are interested in the Agent must submit an offer to the seller and will negotiate until the terms are agreed upon on both sides. The Agents are then responsible for guiding the client in the finalization process this can include but isn’t limited to:
- Home Inspection
- The closing process of the sale
Real Estate Agents also do these same things for the seller of the property as well. Agents will guide the seller in listing the property at a competitive price and assist the seller in setting the home in an appealing way for showings. Then they guide the seller through the same process as the buyer when it comes to home inspections and more. Then finally the closing process.
What It Takes To Be A Real Estate Broker
A Real Estate Broker is required to complete more training than an Agent. The training that Brokers go through allows them to independently facilitate property transactions and own their brokerage that not only supervises Real Estate Agents, but the brokerage employs the Real Estate Agents to work for them. The brokerage company’s responsibility is to aid in the transactions between a seller and a buyer in the process of home buying and to aid and support the Real Estate Agents through the process as well.
First, a Real Estate Broker can do everything a Real Estate Agent can do. This is because before an individual can become a Broker they must first pass the real estate licensing exam in their state. Brokers who own their own brokerage firm, manage Real Estate Agents. On top of managing the day-to-day tasks at the firm and providing support for the Real Estate Agents through the forms of:
Since Brokers are trained in the same thing they can help with processes that are more complicated like foreclosure.
Come Together for Success
A Real Estate Agent and A Real Estate Broker are both key players in the home buying and selling process. Their titles may sound similar but they both play different roles: Real Estate Agent guides buyers and sellers of properties and the Real Estate Broker runs the firm that supports the Agent and can also come in to assist in the process. Both parties are needed for successful transactions because with something as large of an investment as buying or selling a home clients need both for success. Reach out to Heights Title for all of your real estate needs.