What are the differences between a Real Estate Salesperson and Real Estate Broker?
Posted on July 26th, 2010 in Other - Education | 2 Comments »
minnie_mickey07 asked:
I also wanted to know of any good Real Estate Schools, in Michigan, or a web site to find some schools specializing in Real Estate.
2 Responses
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A Broker can have sales people working for him/her (earning a commission from their sales. There is a separate licensing test and I believe you have to have at least one year of real estate sales experience.
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This is different with certain states however, in Virginia, a real estate sales agent must be licensed and practicing real estate for 3 of the last 4 years, successfully complete a curriculum of classes including but not limited to: Real Estate Brokerage, Real Estate Law, Real Estate Financing… and pass the broker test.
A Real Estate Broker may either open a franchise (Century 21, Re/Max…) or open their own business. Brokers are also able to have real estate agents or brokers working in their firm.
As a real estate agent, you must hang your license up with a broker and cannot practice real estate on your own.
To find schools in real estate search for your Professional licensing department in Michigan.