What Is the Difference Between an Agent and a Broker?

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Buying or selling a home may be just one of the biggest financial deals you will make in your life, add the key element of your lifestyle, where and what area you desire to live; turning it into one large decision.  

As your real estate agent helps you in every step of the buying or selling process, the skills and qualifications of that agent can eventually make a major difference in your real estate experience. 

There are three main titles that signify levels of training and licensing in the real estate profession, but several other forms of specialist certification which may be relevant to your real estate transaction.

Real Estate Broker

Although some of the requirements vary from state to state, a broker is generally required to complete over 100 hours of classes, have at least a year's experience as a real estate agent, and pass exams. Brokers are legally able to handle deposits and escrow accounts. 

In most states, real estate agents must work under the supervision of brokers. A licensed broker working under the supervision of another broker is often called an "Associate Broker." If choosing an agent who is not a broker, you should make sure that the agent works for a reputable brokerage.

Real Estate Agent

Like brokers, real estate agents must be licensed by the state in which they are working, something that requires completing a certain amount of coursework, usually at least 50 hours, and passing a licensing exam. 

While real estate agents can list and show houses and work with customers, they are normally employed or supervised by brokers. While all brokers must be real estate agents, not all real estate agents are brokers.

REALTOR®

To use the title REALTOR®, a real estate agent must be a member of the National Association of REALTORS®, and have agreed to follow its code of ethics.

Certified Real Property Appraiser

Although a real estate agent is expert at understanding the market, and helping you determine selling prices and offers for properties, if you intend to get a mortgage, you must get an appraisal conducted by a state-certified appraiser. 

Appraisers have a duty to be objective and unbiased when evaluating properties. The Appraiser Qualifications Board sets training standards for appraisers.

Seniors Real Estate Specialist®

Members of the National Association of REALTORS® who have completed advanced training and passed an examination on addressing the particular real estate needs of seniors can obtain SRES® certification. 

Agents with this designation are adept at helping seniors who may be downsizing, moving to transitional living arrangements, or setting up multi-generational trusts.

Military Relocation Professional

Relocating as a military family brings with it unique challenges, especially in dealing with VA financing and other aspects of the military relocation process. 

This certification requires completing specific coursework and passing an exam focused especially on VA loans and military paperwork.

National Association of REALTORS® Green Designation

Many urban professionals are concerned about the impact of their home choices on the environment. ‘What is the Green Resource Council’ trains and certifies real estate agents to work with homeowners concerned with finding or selling green housing.

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