In Real State what is the difference between a Realtor and a Broker? Thanks?

Answer 1

which Real State are you talking about?

Wow.

Answer 2

Only a Broker is allowed to buy and sell property on behalf on someone else. A Realtor is someone acting on behalf of the Broker to perform the transaction - list, show, sell, etc. The Broker is responsible for all legal matters regarding the transaction and informing the Realtor of proper procedures. Each Real Estate office must have a Broker. The office may have any number of Realtors. A Broker is a Realtor also and performs the same duties as a Realtor. Realtors are required by law to receive certification via education and testing. Brokers have to complete this as well. Then after so many years of being a Realtor, they attend additional education and testing to be come a Broker.

Answer 3

In Real Estate, there are Brokers & Sales Associates.

REALTORS are those Brokers and Sales Associates that subscribe to the Code of Ethics established by the National Association of REALTORS. If a Broker is a REALTOR, all related Sales Associates are REALTORS as well.

A Broker has to have a certain number of years and a certain number of transations to qualify for a Broker's license, which a test is required. Once a Broker is licensed, he/she can enlist Sales Associates to represent him/her.

I hope this helps!

Answer 4

A realtor is a member of the National Board of Realtors, or something like that. It's a professional organization of real estate brokers. They promise to follow a professional code, keep up training standards, etc. They do the same job as a broker, but the broker isn't a member of that board. Either can probably do the same work, but one has gone that extra step.

Answer 5

A realtor sells and makes money on houses. A Broker sells and makes money on loans. SO if you bought a house in cash, no broker would get paid. If you took a loan out to buy a home that was for sale by owner, no realter gets paid.

Answer 6

Art nailed it.