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What is the difference between a real estate broker and a real estate agent?

A real estate sales agent is licensed to help clients buy and sell property but must work under a broker, while a broker has additional licensing that allows independent work, hiring of agents, and collection of commissions from agents' sales. Most states require broker candidates to have at least 2 years of experience as a licensed sales agent. In May 2024, brokers earned a median annual wage of $72,280, compared with $56,320 for sales agents.