When it comes to real estate, what is a “Broker Associate”? Some may have heard this term referring to a Realtor(R) who is offering professional services to help home buyers, sellers, renters, landlords and investors with their property transactions. Let’s distinguish between these common terms that involve different titles, credentials, licenses, rights and responsibilities: real estate agent, Realtor, real estate broker, real estate salesperson, broker owner and broker associate. | VIDEO | COMMENT | CAREERS
A real estate agent is a licensed professional who is authorized and credentialed to represent people and properties in the sales and marketing of a house, condominium, land or other real property. A Realtor is a licensed real estate professional who is a member of the National Association of Realtors(R). In California and some other states, a real estate agent is the term for a licensed pro who has been hired to represent. The license is called a Real Estate Salesperson license. The holder of this standard license is required to be supervised by a higher level professional called a Real Estate Broker. Technically, the Real Estate Salesperson represents the broker, while the broker legally represents the client. The broker owns the listing, and has ultimate responsibility. The Real Estate Broker license requires additional education, and permits the higher level professional to hire and supervise Real Estate Salespersons. A Broker Owner is a broker who owns and is responsible for the broker company. A Broker Associate is a licensed real estate broker who works as a salesperson, and is supervised by another broker, thus the Broker Associate does not supervise. A Broker Associate is able to do a few special things, like work with several other brokers at once, such as one broker for real estate and one broker for mortgage loans, if credentialed for mortgages. | COMMENT | CAREERS
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker. | COMMENT | CAREERS