Look at your license! Look at your agent’s license. Chances are it says: "Real Estate Broker," "Associate Real Estate Broker" or "Real estate Salesman." Do you understand? Many do not!
A "Real Estate Broker" is one who buys and/or sells real estate for another. A "Real Estate Broker" can be a natural person or corporation. A "Real Estate Broker" may or may not employ other real estate licensees to engage in real estate sales. A "Real Estate Broker" has the highest education and financial responsibly in the real estate industry, being legally responsible for his staff.
An "Associate Real Estate Broker" has the same education an experience (normal, but not always) as a "Real Estate Broker," but works for a a "Real Estate Broker." An "Associate Real Estate Broker" can not employee other real estate licensees to engage in real estate sales, but may supervise such real estate licensees for the benefit of his "Real Estate Broker."
"Real estate Salesman" is both the entry level license and a career position for those wishing to sell or purchase real estate for another. A "Real estate Salesman." always works for an answers to an employing "Real Estate Broker," although his supervisor may be an "Associate Real Estate Broker." Said "Real Estate Broker" is legally and financially responsible for his staff.
Consumers and real estate professionals should not discount "Real estate Salesmen" because of the lower educational standards of the license as compared to "Real Estate Brokers." Many real estate professionals prefer to remain out of office management and do not desire the responsibly of their own office! Many professional "Real estate Salesman" not only have the same or greater experience than their "Real Estate Broker," many in this group have a greater real estate education than their employers.
Real Estate is a people business! "Real estate Salesman" are limited to just the hands on people business of buying and selling real estate, their Brokers have or can have additional duties.
Depending on the state you are in real estate licenses allow a cornucopia of additional privileges. All with the "Real Estate salesmen" and "Associate Real Estate Broker" work for a "Real Estate Broker!"
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