Both real estate brokers and real estate salespersons are an integral part of this industry as they both assist commercial and residential property buyers and sellers. However, they both are far more different than you think. And so, we shall discuss what a real estate broker is vs what a real estate salesperson is and compare them to find which career is the right on for you.
Real Estate Broker – What is it?
A real estate broker is actually a salesperson who got their license from a state. Meaning that they are familiar with the many duties of a salesperson. While it can be said that not all real estate agents become brokers, they usually do continue getting knowledge to stay up to date.
Brokers essentially supervise transactions related to real estate. They might be more involved with managing their office compared to a normal real estate agent as they need to work with other brokers, oversee realtors and complete contracts. Here are a few other tasks that a broker might have:
- Help buyers during closing procedures
- Collaborate with buyers to send offers to the property seller
- List property for sale
- Teach agents
- Write the offers with buyers
- Assist sellers to list houses
Real Estate Salesperson – What is it?
A real estate salesperson works to search and identify properties available for the customer. A real estate salesperson is also called a real estate agent or realtor and they work under a broker. They might also work in brokerage firms and usually get their pay when they successfully complete a property transaction.
A real estate salesperson might generate their own base of clients and navigate through their community to find possible buyers and or sellers. When working independently, they are responsible for every step and aspect of the transaction from the start to the finish. They might also have the following duties:
- Advise clients about the market
- Find properties for their clients
- Visit properties with their clients
- Guide their clients about the properties
- Handle all paperwork of the transaction
- Create advertisements on property listings
- Arrange financing for their clients
- Schedule and hold open houses
Broker and Salesperson – The Difference
As you might have noticed, brokers work under strict policies and ensure that other agents follow these policies as well. And a real estate salesperson can be completely independent if they wanted to, but they still have to follow certain guidelines.
While both the brokers and real estate agents require licensing by the state, brokers need an extra level of licensing to earn the title of “broker”.
The average salary of a broker per year is, $ 77.486, while a realtor or a salesperson can earn an average of $84.520 per year.
Which one is the right one?
To put it bluntly, it is entirely on you on what you want to be and if it suits you or not. Note that little things make a large difference between a broker and a salesperson. And these little things such as work environment or level of freedom might affect where you want to go with a career in real estate.
Last piece of advice
If you are a realtor, salesperson, or a broker. And you feel the need to work with or associate yourself with a brokerage, then Executive Homes Realty Inc. is the best real estate brokerage in Mississauga. Why? Because they are ready to accept you with open arms. What are you waiting for?