Thursday, June 5, 2008
Agent, Broker, what’s the difference?
A real estate agent is one who has obtained a real estate salesperson's license and works under a broker. A broker is an experienced real estate agent that has obtained a brokers license. Only a broker is allowed to operate a brokerage company and every real estate brokerage company has a managing broker. The listing agent is an agent acting on behalf of a seller, after having entered into an agreement to sell property. Similarly, a listing broker is the broker of the listing agent that is representing the seller. A buyer's agent is an agent assisting a buyer in locating a property suitable for the buyer. A buyer's agent is also called the selling agent in a real estate transaction to refer to the fact that this is the agent that produced the willing and able buyer in the real estate transaction. An agent's duties to a client are the same as those of a broker's duties to a client. For more details, please refer to the Wikipedia
at 10:59 PM