A broker is a licensed real estate professional who usually represents the seller of the property. In some cases, brokers represent buyers of properties. The broker acts as an intermediary between the seller of the property and the buyer. It is important to not confuse the brother with the real estate agent.
The real estate agent acts as a salesperson between the buyer and the seller and earns a commission. On the contrary, a brother is more educated, with advanced training, and therefore, sits higher than real estate agents on the rank.
What are the requirements to become a real estate broker
There are many requirements to become a broker. However, the following are some of the main ones that you should have before you think about the brokerage application.
- Since brokers are steps ahead of real estate agents; the first thing you need is a real estate agent license.
- Build your real estate agent experience at least 2 years depending on your state
- Complete a training course required by your state
- Pass the broker’s licensing examination
Some states may have different requirements for brokers. You must always work with your state and see what it is you have to do. In the meantime, get a real estate license. Also, it is important that you work under a brokerage firm and get the realtor certification.
What do real estate brokers do?
Real estate brokers perform technical tasks of real estate transactions. Since they are more advanced with more insights in the market compared to real estate agents, they perform behind the sean activities. The following are some of their duties.
- Showing properties to buyers
- Determine market values of properties
- Offer submission
- Listing and advertise properties
- Advise sellers about listing prices
Brokers who work with buyers may do some of the following activities:
- Negotiate on behalf of the buyer
- Find properties that meet the buyers’ desire and budgets
- Perform market analysis to make sure the buyer gets the best property at the best price
- Offer submission
