Question

Explain the difference between a real estate agent and a real estate broker.

Answer 1

The Broker is licensed to oversee the work of agents and is more regulated than agents. Agents MUST work under a brokerage. Some brokers can be agents as well.

Answer 2

It has nothing to do with who's got the money. It used to be when you heard someone say, a real estate broker, it sort of meant a person who helped you sell a home. Today (specifically) a "broker" is a person who is both entitled to sell real estate, and also is repsonsible for the "agents" underneath them. For example, a company of 10 agents may have one broker. Think of agents as salespeople, and the broker as a manager. The broker is legally accountable for the actions of the agents underneath him. Educationally speaking, a broker is required to recieve additional courses to recieve their broker license. For related issues check out my blog at http://realdealrealtor.blogspot.com/ Thanks!

Answer 3

Ones got money and the other doesn't.

Answer 4

Agents show you the properties. Broker could be successful agents who became a broker and have employees (agents) or a broker could be someone that is good at doing office work (real estate agreements) and not good at selling, so he/she is smart enough to hire others to sell for them.