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Difference between Broker and a Real Estate Agent

Buying and selling real estate is a complicated business of contracts, title searches, mediation sessions and negotiations. Real estate brokers and agents both have their place in the industry, but knowing which one you are doing business with can dramatically affect the outcome of your sale or purchase.

Individuals who are buying and selling property will have to, at some point, work with a real estate agent or broker, if they want the deal to go smoothly. The nature of the sale will determine whether or not an agent can handle the transaction. If you want to make sure the sale goes off without a hitch and all protocols are followed to the letter, hiring the top realtor in Anchorage, AK is your best choice. Real estate brokers and agents are similar in several ways. Both are:

  • Licensed through the state they work in

  • Bonded

  • Complete a specific number of college courses in the real estate field

The differences, however, are quite significant.

Real Estate Broker

A broker or top realtor in Anchorage, AK normally has more experience in the business than an agent. A broker is also held liable for the actions of agents who work under them. To become a broker, an agent must complete four years of real estate schooling and successfully pass a broker’s exam. Brokers must also have at least two years of experience as a practicing agent. A broker’s role is mainly in the management of the office and how transactions are handled.

Real Estate Agent

A real estate agent must also take college level real estate courses. The major difference in education for an agent is the classes they must take. An agent’s education normally focuses on the ethical aspect of the industry as well as legal protocols that must be followed. A broker, on the other hand, must take courses in business management in addition to the ethics and legal classes. An agent must also take and successfully pass an agent’s exam. While not as long as that of a broker, it is sufficient to ensure they have learned enough about the business to be able to oversee the sale and purchase of property.

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