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Realtors vs Real Estate Agents vs Real Estate Brokers

Discussion in 'General Business' started by Jenifer Soflous, Feb 3, 2016.

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  1. #1
    Hi,

    Let me know what is the accurate difference between Realtors, Real Estate Agent and Real Estate Broker ?

    So much confused.
     
    Jenifer Soflous, Feb 3, 2016 IP
  2. malky66

    malky66 Acclaimed Member

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    malky66, Feb 4, 2016 IP
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  3. RajSingla

    RajSingla Active Member

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    #3
    I think they all are the same.
     
    RajSingla, Feb 18, 2016 IP
  4. Karl2016

    Karl2016 Peon

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    #4
    Brokers - typically are the person or company that hold a "Licence" to operate the business of Real Estate services . The broker would employ "Agents" to work in the company .They also can be a "Agent" that has passed a higher level of tests to receive the "Broker" designation. A "Broker Agent" does not need to share their commission with anyone else.

    Agents - Work for the "Broker" and either pay desk fees or a % of their commission to the broker.

    Realtors - generic term , can be either a agent or Broker
     
    Karl2016, Feb 19, 2016 IP
  5. NetStar

    NetStar Notable Member

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    NetStar, Feb 21, 2016 IP
  6. sarahk

    sarahk iTamer Staff

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    #6
    I'm guessing you are asking about those terms in America rather than India?
    Would explain why they're not obvious. FWIW every country will have slightly different terms to describe the same things. I hear old timers talking about "land agents" sometimes. I guess that harks back to the days when there was still a lot of undeveloped land to be bought and that was mostly what they sold.
     
    sarahk, Feb 22, 2016 IP
  7. malky66

    malky66 Acclaimed Member

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    I use it a lot here, I don't think they have Google in India yet...
     
    malky66, Feb 22, 2016 IP
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  8. Sue Paris

    Sue Paris Peon

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    #8
    Real estate agent must work for an employing broker and cannot work independently.

    A real estate broker can work independently and / or hire real estate salespersons.

    A Realtor is a trademarked term that refers to a real estate agent who is an active member of the National Association of Realtors (NAR), US.
     
    Sue Paris, Nov 2, 2016 IP