Real estate agents have different titles they can be called. You’ve probably heard of the terms agent, associate, broker and broker associate. This can be confusing to the public, so let’s discuss what they mean.
Long ago, we were all called agents, but there were certain duties you’d have to perform which created a mess. The law now states that we are sales associates, and this cleared up some of the duties that are required for a broker and the broker’s agents. While, you can still call your associate a real estate agent, our legal title is sales associate. This new title protects home sellers and buyers, by preventing an agent from performing certain duties that could potentially cause a problem. But, you’ll hear most people refer to us as a real estate agent, associate, broker or broker associate. And these names at times can be used interchangeably.
The difference between a real estate broker and an agent or associate, is the broker has a higher level of experience. They’ve also undergone additional testing. These individuals receive a new license to show that they are a real estate broker. They can have their own company with associates working for them.
Brokers report to the real estate commission. When managing sales associates, they are required to make sure everyone is following the rules and regulations of the real estate commission. This is why, if you’ve encountered an issue, your real estate agent may need to check with their broker. This ensures all laws are being followed.
Sometimes, you can have a broker act as an associate, hence the term broker associate. While they have all the experience, skills and the license required to be a broker, they’ve decided to step outside of the management role, and act solely as a sales associate. And, this is what I’ve done. I am a real estate broker, but I’ve decided to focus on helping home buyers and sellers, instead of managing associates.
For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.