Let’s take a look at some of the frequently asked questions regarding real estate agents and brokers.
Should I work with a real estate agent or a broker?
It’s up to you whether you choose to enlist the help of a real estate agent or broker. Both an agent and a broker can help you with buying or selling a home, but you may find that a broker has more experience and expertise.
Who makes more money, a real estate agent or a broker?
While a real estate agent and a broker are both primarily paid on commission, a broker will typically make more money each year since they receive commission on the deals made by the agents they sponsor as well as their own deals.
How do I become a licensed real estate agent or broker?
To become a licensed real estate agent, you’ll need to take a pre-licensing course, a licensing exam, activate your real estate license and join a brokerage. If you want to become a broker, you’ll need to gain experience as an agent first and then take a state-approved real estate broker course and pass the broker exam.
How does a REALTOR® differ from a real estate agent and a broker?
The term “REALTOR®” is often used interchangeably with “real estate agent,” but in actuality, an agent, broker, appraiser, salesperson or property manager can become a REALTOR® by joining the National Association of REALTORS® (NAR). Any of these professionals can become a member by conducting themself and their business according to the NAR’s code of ethics.
As a REALTOR®, agents and brokers have access to certain discounts and educational resources that are created to better their practices and increase their earnings.
