what is the difference between a real estate agent and real estate broker?
Posted on December 3rd, 2009 in Renting & Real Estate | 5 Comments »
vee asked:
im interested in getting my real estate license. I just registered for an online class, but i wanted to know what is the difference between an agent and a broker? also why and how much do you have to pay to get your license (CA)? id like as much info as possible.. thanks thanks for the replies.. one more question.. ive read that on average you get 6% commission, so would i have to split that with the broker?
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im interested in getting my real estate license. I just registered for an online class, but i wanted to know what is the difference between an agent and a broker? also why and how much do you have to pay to get your license (CA)? id like as much info as possible.. thanks thanks for the replies.. one more question.. ive read that on average you get 6% commission, so would i have to split that with the broker?
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5 Responses
Horses for Sale
The agent sells the houses, the broker has an office where they enlist other people to sell.
Atlanta GA Real Estate
The terminology used to identify real estate professionals differs a little from state to state. Brokers are usually required to have more education and experience than real estate agents. The person you normally deal with is a real estate agent. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker’s name, not the real estate agents.
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Generally, the agent has a lesser license than a broker. In some states an agent can have his or her own office, but in most an agent must work under a broker’s supervision. Normally, a professional must work several years as an agent before he or she can be considered for a broker’s licence.
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Depends on the state. I am in a Broker only state (NC) I took my regular RE classes and got a provisional broker status meaning I have my Broker in Charge over me. I have to take 3 more classes to get the provisional removed. I have 3 years to do this but can do it as quickly as I can. I have been in RE for just under 2 years and I am about to take my 3rd class. To be a independent broker I have to have 3 years experience.
Grundy Il Real Estate
Yes, 6% is the typical commission paid, although that will be split between you and an agent representing the buyer, if there is one. So you get 3%, and then a percentage of that does go to your broker. That varies depending on the broker you work for.