Answer No. 1
The biggest distinction between the real estate broker and real estate agent is that broker can work by his or her own, while an agent or associate has to work under a licensed broker. Real estate agents have licensed salespersons. They are not real estate brokers. A real estate agent works under an employing broker. He cannot do work independently. Real estate brokers are responsible for their real estate agents actions. Requirements for a real estate salesperson license vary from state to state. Applicants need to be at least 18 years old and to have successfully completed three college-level courses in real estate. State residency is not a requirement. A real estate broker is an above level of real estate agent. A broker has acquired more knowledge than an agent, but not always. For example, broker’s license is required to work for you. A broker can run his own business but agents always work under a broker.
Answer No. 2
Real Estate Brokers
Real estate brokers are licensed by their state to act as an intermediary between buyers and sellers. Brokers find sellers for those who want to buy real estate and buyers for those who are willing to sell it. Brokers have their state-issued licenses to manage their own businesses, and they supervise the real estate agents who work under their supervision.
Real Estate Agents
Real estate agents are also licensed by the states. Real estate agents can’t legally broker the transactions. But, a real estate agent works under his supervising broker’s license. Real estate agents can’t supervise other agents and must have a sponsoring or supervising broker in order to work in the industry. Real estate agents are so many types that even they confuse themselves sometimes. To stand out in a crowd, some agents add titles after their names. Real estate agents could be a consultant, an associate, or a Realtor. Real estate agents cannot work as a real estate broker without a broker’s license but a broker can work as an agent. Real estate license is a must for an agent to give real estate advice.
Answer No. 3
Most states require real estate sales professionals to be licensed by the state so that they can control education and experience requirements and have an authority to resolve problems of a consumer. The real estate professionals vary a little from state to state. Real estate brokers are required to have more knowledge and experience than real estate agents. The person you generally deal with is a real estate salesperson or real estate agent. The agent is licensed by the state but he must work for or under a broker. All listings are placed under the broker’s name, not under the agent’s. A real estate broker can deal directly with home sellers and buyers or can have a staff of agents working for him.