A real estate brokerworks to negotiate and arrange real estate transactions. This licensed individual has daily duties that include writing contracts and overseeing transactions for sales and purchasing activities on homes, land and commercial properties.
People also ask
What is a broker?
Brokers are real estate agents who have completed additional training and licensing requirements. They can work independently and hire other real estate agents to work for them.
What’s the difference between a broker and a real estate agent?
However, if you work in the real estate industry, there is a very clear difference. All real estate brokers were once licensed agents — but not all agents are brokers. Brokers assume legal responsibility for the agents and the real estate transactions being managed through their brokerage.
What are the responsibilities of a broker when selling a house?
If you have hired a real estate agent to help you buy or sell a home, that agent typically reports to a broker. The broker handles the earnest money deposit and establishes the escrow account. In addition, the broker bears responsibility for the actions of the real estate agents under his or her supervision.
What is a a realtor?
A Realtor is a licensed real estate agent or broker (or other real estate professional) who is a member of the National Association of Realtors (NAR). Members must comply with NAR’s strict Code of Ethics. Real estate agents are individuals who are licensed to help people buy, sell, and rent real estate.