Real Estate Agent Vs. Broker - What's The Difference
In today's video, I'm going to cover the difference between a real estate agent vs. broker.
Some other things I'm going to cover include:
Common misconceptions related to terminology
Advantages of having a brokers license over an agent or salesperson license?
What is required to get a broker license vs. an agent license?
Disadvantages of having a brokers license vs. an agent license?
Things To Note First
Terminology
“Agent”
“Salesperson”
“Broker”
“Realtor”
“Sub-agent”
“Salesperson” license is what MOST people receive.
Easier test with low pass/fail threshold (70% score gets you a pass)
Salesperson's license is useless unless you work for a broker. You cannot represent someone else or accept ANY commissions without a sponsoring broker.
“Realtor” is NOT a generic term. Member of Natl. Assoc. Of Realtors. Realtor code of ethics.
Advantages
Operate on your own
Can start a brokerage and recruit other agents to work for you
“Broker/Owner or Broker Associate” title may give you an edge versus other agents in the minds of your prospective clients.
Tax purposes
How To Earn a Broker License
In some states, like WA, all real estate salespeople are titled “Brokers”. However, there may be different levels of brokers. Broker vs. Managing Broker
In almost all states, the requirement to obtain a broker's license is much higher than a salesperson's license
Typically, there’s a requirement for the length of time as a salesperson
The required amount of experience
Additional education
Pass the broker exam
Disadvantages
Held to the highest level of the law
More classes
Much harder exam to pass with higher pass/fail limit
Possibly higher insurance and licensing costs
Liable for the actions taken by salespeople whose license you’ve sponsored
Other Options?
Build a team
LLC Brokerage
Join a brokerage that allows you to build revenue or profit share
//WATCH NEXT:
◦ Grow Your Real Estate Business From 0 - https://youtu.be/AcNenzPVTEU
◦ How TO Be Successful in Real Estate Without Cold Calling - https://youtu.be/TQz_YWtlkYA
◦ eXp Realty Explained (2020) - https://youtu.be/qD0x9f8t0As
//COME SAY HI!
Blog: https://www.kylehandy.com
Instagram: https://www.instagram.com/realkylehandy/
//CONTACT:
Text me now at 210-864-9225
Please use this email: kyle@thehandyteam.com
Partner with me at eXp Realty: https://kylehandy.link/exppartner
Know someone moving to San Antonio, let my team help and receive a referral fee: https://kylehandy.link/referral
//TOOLS & SERVICES I USE:
◦ Real Estate Express - Online Real Estate School - https://kylehandy.link/realestateexpress
◦ REDX - Real Estate Prospecting Platform - https://kylehandy.link/redx
◦ SendOutCards - Cards And Gifting Program - https://kylehandy.link/sendoutcards
◦ All Things Real Estate - Real Estate Supplies - https://kylehandy.link/allthingsre
◦ TubeBuddy - YouTube Optimization - https://kylehandy.link/tubebuddy
◦ Aweber - Email Marketing - https://kylehandy.link/aweber
◦ Flick.tech - Instagram Hashtag Tool - https://kylehandy.link/flick
◦ KWFinder - Keyword Research - https://kylehandy.link/kwfinder
◦ Canva - Graphic Design - https://kylehandy.link/canva
◦ Agent Legend - Lead Follow Up and Nurturing - https://kylehandy.link/agentlegend
//FAVORITE REAL ESTATE BOOKS
◦ Your First Year in Real Estate - https://amzn.to/35UfKfV
◦ Millionaire Real Estate Agent - https://amzn.to/3jVMURz
◦ The Conversion Code - https://amzn.to/2Git1Gl
◦ Exactly What to Say: For Real Estate Agents - https://amzn.to/3efoJMx
And make sure you subscribe to my channel!
DISCLAIMER: Some of these links are affiliate links of products and services I personally use and recommend. I may earn a small commission if you make a purchase. This comes at no additional cost to you and helps to fund this channel and my ability to create more content.
#kylehandy #realestatetraining #realestateagentvsbroker
Видео Real Estate Agent Vs. Broker - What's The Difference канала Kyle Handy
Some other things I'm going to cover include:
Common misconceptions related to terminology
Advantages of having a brokers license over an agent or salesperson license?
What is required to get a broker license vs. an agent license?
Disadvantages of having a brokers license vs. an agent license?
Things To Note First
Terminology
“Agent”
“Salesperson”
“Broker”
“Realtor”
“Sub-agent”
“Salesperson” license is what MOST people receive.
Easier test with low pass/fail threshold (70% score gets you a pass)
Salesperson's license is useless unless you work for a broker. You cannot represent someone else or accept ANY commissions without a sponsoring broker.
“Realtor” is NOT a generic term. Member of Natl. Assoc. Of Realtors. Realtor code of ethics.
Advantages
Operate on your own
Can start a brokerage and recruit other agents to work for you
“Broker/Owner or Broker Associate” title may give you an edge versus other agents in the minds of your prospective clients.
Tax purposes
How To Earn a Broker License
In some states, like WA, all real estate salespeople are titled “Brokers”. However, there may be different levels of brokers. Broker vs. Managing Broker
In almost all states, the requirement to obtain a broker's license is much higher than a salesperson's license
Typically, there’s a requirement for the length of time as a salesperson
The required amount of experience
Additional education
Pass the broker exam
Disadvantages
Held to the highest level of the law
More classes
Much harder exam to pass with higher pass/fail limit
Possibly higher insurance and licensing costs
Liable for the actions taken by salespeople whose license you’ve sponsored
Other Options?
Build a team
LLC Brokerage
Join a brokerage that allows you to build revenue or profit share
//WATCH NEXT:
◦ Grow Your Real Estate Business From 0 - https://youtu.be/AcNenzPVTEU
◦ How TO Be Successful in Real Estate Without Cold Calling - https://youtu.be/TQz_YWtlkYA
◦ eXp Realty Explained (2020) - https://youtu.be/qD0x9f8t0As
//COME SAY HI!
Blog: https://www.kylehandy.com
Instagram: https://www.instagram.com/realkylehandy/
//CONTACT:
Text me now at 210-864-9225
Please use this email: kyle@thehandyteam.com
Partner with me at eXp Realty: https://kylehandy.link/exppartner
Know someone moving to San Antonio, let my team help and receive a referral fee: https://kylehandy.link/referral
//TOOLS & SERVICES I USE:
◦ Real Estate Express - Online Real Estate School - https://kylehandy.link/realestateexpress
◦ REDX - Real Estate Prospecting Platform - https://kylehandy.link/redx
◦ SendOutCards - Cards And Gifting Program - https://kylehandy.link/sendoutcards
◦ All Things Real Estate - Real Estate Supplies - https://kylehandy.link/allthingsre
◦ TubeBuddy - YouTube Optimization - https://kylehandy.link/tubebuddy
◦ Aweber - Email Marketing - https://kylehandy.link/aweber
◦ Flick.tech - Instagram Hashtag Tool - https://kylehandy.link/flick
◦ KWFinder - Keyword Research - https://kylehandy.link/kwfinder
◦ Canva - Graphic Design - https://kylehandy.link/canva
◦ Agent Legend - Lead Follow Up and Nurturing - https://kylehandy.link/agentlegend
//FAVORITE REAL ESTATE BOOKS
◦ Your First Year in Real Estate - https://amzn.to/35UfKfV
◦ Millionaire Real Estate Agent - https://amzn.to/3jVMURz
◦ The Conversion Code - https://amzn.to/2Git1Gl
◦ Exactly What to Say: For Real Estate Agents - https://amzn.to/3efoJMx
And make sure you subscribe to my channel!
DISCLAIMER: Some of these links are affiliate links of products and services I personally use and recommend. I may earn a small commission if you make a purchase. This comes at no additional cost to you and helps to fund this channel and my ability to create more content.
#kylehandy #realestatetraining #realestateagentvsbroker
Видео Real Estate Agent Vs. Broker - What's The Difference канала Kyle Handy
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