Most of the times, venturing into real estate business can be very challenging if you are not well informed about some things. Most people tend to confuse real estate agents for real estate brokers. There is a big difference between the two professions and it is vital to understand it as you take an interest in the real estate business. Here are the differences between a real estate broker and a real estate agent.
First and foremost, a real estate broker can work independently but a real estate agent cannot. A real estate broker can open and run a brokerage firm. All that is required is that they should be licensed, real estate brokers. For a real estate agent, the only way they can operate is through a real estate brokerage firm. This means that the real estate broker is responsible for hiring the real estate agent. The real estate agent will work under the management of the real estate broker also under their license. A real estate broker can also hire other real estate brokers to work under him but a real estate agent can only work under a broker. Learn more at https://brokerbreakup.com/.
There is also a difference in the level of education between the real estate agent and the real estate broker. It is true that both professions require one to be knowledgeable enough in the real estate industry and market. Although, for one to qualify to be a real estate agent, they will undertake pre-licensing courses and a real estate licensing exam. The courses of a real estate agent are basically on the representation of clients in the real estate business. For the real estate brokers, they must have experience as real estate agents and at least a degree. Also, there are broker licensing courses that they have to undertake in order to qualify for a license. This license is what allows them to establish their own real estate brokerage companies like BrokerBreakUp.
Lastly, real estate brokers have a higher income than real estate agents. From what has been discussed above, it is clear that the qualifications of a real estate broker greatly surpass those of real estate agents. Hence, a real estate broker has greater responsibilities and opportunities than a real estate agent. This means that the real estate broker can secure a better paying job than a real estate agent can. Also, the fact that a real estate broker can start their own company and have the real estate agents working under him says it all. It is for this reason that most real estate agents today are striving to become real estate brokers. Check out more here: https://www.huffpost.com/entry/how-to-start-a-career-in-real-estate_b_59b97c87e4b0390a1564da7c.