Requirements for a real estate agent license vary depending on where he/she wishes to be a practicing agent, but in most countries you must be at least 18 years old and have successfully completed college-level courses in real estate. This educational prerequisite must cover the specific state’s real estate laws and practices.
Real Estate Broker
Real estate brokers can choose to work independently, or employ real estate salespersons to whom they could distribute tasks and assign the legwork. And because they are the ones qualified to manage the agents, they generally hold bigger responsibilities. For every firm, there is only one principal broker.
REALTOR®
Listing agents owe a fiduciary responsibility to the seller under a listing agreement, and must guide the seller through every step of the way–from marketing to closing.
The listing agent’s responsibilities generally include the following:
– Helping you prepare and stage your home for selling
– Listing your home in the MLS
– Being on top of the open houses and private home viewings
– Negotiating with potential home buyers
Buyer’s Agent
Some buyer’s agents never work for sellers, and offer their services exclusively to buyers. Many agents still choose to work with both sellers and buyers, although not always in the same transaction.
The responsibilities of a buyer’s agent generally include the following:
– Helping you find the best home that fits your needs AND your budget
– Negotiating with the home seller on your behalf
– Providing reliable home inspectors
– Completing and processing the necessary paperwork
