In real estate, agents or realtors are formally called Real Estate Salespersons. All Virginia real estate professionals are governed by the Real Estate Board of the Commonwealth of Virginia. An Agent or Realtor® has to work under a Broker. The owner of the Brokerage is called a Principle Broker. A Broker who hangs his license in a Brokerage is called an Associate Broker.
A Broker can deal directly with home buyers and sellers, or he/she can have a staff of salespersons (Agents/Realtors®) working for him/her to perform such tasks. A Broker possesses a state license that allow him/her to operate his/her own real estate business and employs real estate salespersons (agents/realtors) while the agents/realtors, on the other hand, cannot conduct any real estate transaction without working for a Broker.
A Broker is actually the party being paid a commission upon successful conclusion of a real estate transaction. A Broker is generally required to have more education and experience than real estate salespersons (agents/realtors). A Broker is in the top tier of the real estate profession. A Broker has more experience and knowledge in real estate business than an Agent or Realtor®. The person you normally dealt with is a Real Estate Agent or Realtor®. The Agent or Realtor® is licensed by the State to assist in a real estate transaction, but he/she must work under a Broker. In other words, a Broker can do everything that a Real Estate Agent or a Realtor® can do plus a whole lot more while a Real Estate Agent or a Realtor® cannot do what a Broker can do other than assisting a buyer or seller in a transaction.
In layman's terms, a Broker is as high of a level as one can get in the real estate profession; The Boss!
Principle Broker: The owner of a Brokerage business.
Associate Broker: A Broker works at a Brokerage owned by a Principle Broker.
Supervising Broker: A Broker who supervises agents/realtors in a branch brokerage.
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A Broker can deal directly with home buyers and sellers, or he/she can have a staff of salespersons (Agents/Realtors®) working for him/her to perform such tasks. A Broker possesses a state license that allow him/her to operate his/her own real estate business and employs real estate salespersons (agents/realtors) while the agents/realtors, on the other hand, cannot conduct any real estate transaction without working for a Broker.
A Broker is actually the party being paid a commission upon successful conclusion of a real estate transaction. A Broker is generally required to have more education and experience than real estate salespersons (agents/realtors). A Broker is in the top tier of the real estate profession. A Broker has more experience and knowledge in real estate business than an Agent or Realtor®. The person you normally dealt with is a Real Estate Agent or Realtor®. The Agent or Realtor® is licensed by the State to assist in a real estate transaction, but he/she must work under a Broker. In other words, a Broker can do everything that a Real Estate Agent or a Realtor® can do plus a whole lot more while a Real Estate Agent or a Realtor® cannot do what a Broker can do other than assisting a buyer or seller in a transaction.
In layman's terms, a Broker is as high of a level as one can get in the real estate profession; The Boss!
Principle Broker: The owner of a Brokerage business.
Associate Broker: A Broker works at a Brokerage owned by a Principle Broker.
Supervising Broker: A Broker who supervises agents/realtors in a branch brokerage.
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