A real estate professional can advise you during the house buying process. There are a few different kinds of professional you may need help from and it is useful to know who they are and what they do.
A real estate agent is a licensed sales person whose job it is to assist people selling or purchasing properties such as homes. They will direct the parties through the sale and complete other duties including, listing the property and marketing it. While they are usually thought of as independent contractors, they are required to operate with the oversight of a broker.
Real estate brokers manage or own real estate agencies. They collaborate with title companies or real estate lawyers who handle negotiations and transactions. They are able to provide similar services to what an agent does however they may also have agents working for them, or work solo out of their own office.
In comparison, the difference between real estate agents and brokers has to do with the specific duties they are in charge of. Brokers manage the work of the real estate agents, including looking over the contracts agents provide or looking after escrow money transfers and other transactions. Agents usually communicate closely with their clients. They have to train or work with someone who has received their broker’s licensed after being licensed themselves. They both have required real estate classes to take, but a broker needs to go through extra training. In general, they are both paid by commission.
While it may seem like brokers have more experience, it’s possible for some to have only been working for a short time while some agents make have been working for years without feeling a need to get a broker’s license. The choice between who you need depends on what services you are after.
