What is the difference between a real estate agent and a broker?
Real Estate Agent
A real estate agent is an individual that works on behalf of a real estate broker, who is certified to negotiate and arrange real estate sales. The term real estate agent is often mixed with the term, “real estate salesperson.” Depending on the state, the real estate agent is required to take a certain number of hours of real estate agent classes to become certified. Simply completing the real estate agent classes does not license an individual to negotiate the buying and selling of real property. After completing the real estate agent classes, the individual must pass a state test that will certify and license them as real estate agents in the particular state that they wish to practice in.
Real Estate Broker
As real estate agents accumulate years of experience and an excellent track record of selling homes, they often choose to take their profession to the next level by becoming a certified real estate broker. A real estate broker is similar to a real estate agent; however a real estate broker often manages teams of real estate agents. In order for a real estate agent to open their own office and manage agents, they must take real estate broker classes in addition to the real estate agent classes that they took to initially become licensed. In most states, under no circumstance may a real estate agent open up their own office, without passing the state broker’s test. In Colorado, all real estate agents are considered brokers, and they are not required to take any additional coursework.