In the Season 3 premiere episode of Speechless, the DiMeos are still homeless. While staying at Kenneth’s (Cedric Yarbrough), they discover that their home is
What is the difference between a real estate agent and a real estate broker?
Real Estate Agent
A real estate agent is someone who’s licensed to sell property in their state. Requirements for licensing usually involves taking classes and passing a state-administered exam.
Generally, acan act on behalf of the buyer, the seller or both (thought this is not legal in all states and requires the consent of both parties). A buyer’s agent helps buyers throughout the home-buying process, from showing you homes, submitting purchase offers, finding the right house to the closing, negotiating with the seller, writing up the sales agreement and arranging the closing.
A seller’s agent (also known as a who are trying to sell their home. Their job is to represent the seller’s interests, help in establishing a selling price, list the property, and conduct open houses and negotiating offers.) works with individuals
Real Estate Broker
A real estate broker is someone who’s licensed to run their own real estate company. The requirements to become a vary from state to state but in general, you need to have experience as a real estate agent, complete an advanced real estate courses and pass a state-administered exam. The day-to-day duties of a real estate broker may vary but their primary role is to act as a mediator for buyers, sellers and their respective agents.
The main difference between an agent and a broker is that real estate agents are employed by a real estate broker and are not allowed to work independently, whereas real estate brokers can work independently or employ one or more licensed real estate agents.