Question: What is the difference between a, real estate broker and an agent?
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Answer #1:
A real estate agent works for a broker. The broker is responsible for all the agents whose licenses hang with him/her.The requirements should be posted at a website for your state's real estate commission.
I can't understand your third question.
Answer #2:
The first guy answered the #1 and #2 right.I figure the answer to #3 is a real estate license means that it is legal to represent people other than yourself to buy or sell or manage real estate. Is that what you are asking?
Answer #3:
A real estate agent is licensed by the state to represent buyers/sellers and landlords/tenants in real property transactions and receive commissions from these transactions. It is illegal to receive a commission from a real estate transaction without a real estate license. When a person is first licensed they are required to work for a real estate broker for a minimum of two years in a sort of apprenticeship role to learn the business before they become eligible to open up their own real estate company. The real estate broker acts as the principal representative between all clients, and assumes liability for all agents, despite having very little, if any, interaction with the client. The real estate agent is an agent of the broker. Once an agent has been working for the broker for 2 years the agent will then have the opportunity to go back to real estate school for added required education and an opportunity to take a state real estate brokers exam. If they pass they will become a broker and then be allowed to open their own real estate company.Often the most experienced real estate agents never become brokers because they have no need or intention of opening their own company.
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