People often think of a broker and a salesperson when they want to buy or sell a property. Real estate salespeople and brokers basically help clients buy or sell homes. They are professionals who deal with real estate. However, their roles differ in the operation of a real estate business. The broker is the owner or managing agent of a brokerage, while a salesperson is normally an independently contracted employee.
Agents and brokers both make income from commissions on home sales. Salespeople don’t get regular paychecks. Instead, they get a specific percent of commissions on each home sale.
Another difference lies in the license requirements, and interaction with the client. Though a license is required for becoming a broker and a salesperson, it is easier to get one for working as a salesperson.
A major distinction between an agent and broker is their level of involvement in the business. A broker either manages an office for a large company or are business owners. Salespeople are basically independent workers in business for themselves. Their function is to legally sell and to meet other terms and conditions stipulated in their contracted employment.
Depending on the state there may not be a salesperson, instead there are brokers and managing brokers. Understand your state license requirements by choosing your state on the state licensing requirements tab.
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