What is the difference between a real estate broker and a salesperson?
A real estate salesperson must work under a real estate broker.
A real estate salesperson operates as a sub-agent to their sponsoring broker and can perform all of the duties of a broker.
The first license you must obtain is a real estate salespersons license. Once you get enough experience, you can qualify to take the real estate broker's exam and get your broker's license.
When you have a real estate broker's license, you can open your own real estate office and have salespersons work under you.
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Related FAQs
A REALTOR is a licensed real estate salesperson who also belongs to the National Association of REALTORS. Many people believe that a REALTOR is another word for a real estate agent. However, this is not the case. If a real estate salesperson does not belong to the NAR, they cannot call themselves a REALTOR.
Read More As a real estate agent, you make money in the form of a commission once a sale or rental deal closes. The commission usually equals a percentage of the purchase price, such as 5% or 6%. The total commission will get divided between the seller's and buyer's broker, who in turn, share the commission with the salesperson.
Read More According to the Bureau of Labor Statistics, the average real estate agent earns $50,300 each year, while the top 10% of real estate agents make over $110,000 per year. However, these statistics include both part-time and full-time agents. Real estate agents have unlimited earning potential.
Read More A sponsoring broker is a real estate broker that employs a real estate salesperson. State law requires all real estate salespersons to work under a sponsoring broker. The sponsoring broker will actually hold the license of the real estate salesperson.
Read More Here are the steps you should take to find a sponsoring broker: 1) Google brokers in your area. 2) Reach out to 10 brokers. 3) Schedule interviews with 4 or 5 of the brokers. 4) During the interview, ask them about commission splits and training. 5) Select the broker that best fits your career goals.
Read More Yes, you can use your real estate license whenever you wish, including part-time. In fact, many real estate licensees choose not to work full-time. As an independent contractor, your sponsoring broker cannot tell you how many hours you have to work.
Read More Always choose an accredited school when you are looking to get a real estate license. Real Estate U is fully accredited. Learn more here!
Read More Yes! There is always an instructor available to answer any of your questions. You can simply email us at [email protected] and our instructors will get back to you very quickly.
Read More RealEstateU offers the fastest and most affordable way to get your real estate license. RealEstateU produces all of its own content, while most other online schools simply license their content from third parties. RealEstateU also offers excellent customer support and is available 24/7 to answer any of your questions.
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Read More To date, over 100,000 students have started their real estate career with RealEstateU. You can click here to learn more about RealEstateU: https://www.realestateu.com/about-us-real-estate-school/
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