| Difference between a Real Estate Licence and a Broker Licenc |
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Elmira Nancy
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| Difference between a Real Estate Licence and a Broker Licenc |
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when u become a real estate agent you work for or with a real esate broker. esentially the broker will make more money but requires more skills and or school. In new york to become a licensed real estate agent you have to take a few courses i think about 2 months or so and have to read a book cover to cover if im not mistaken and the licensing exam is offered a certain amount of times each year i was thinking about it too but with the way the economy is it may be a difficult job on the other hand the rich folks are spending lots more money than they did in the past few years so i might work out
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Sat Jan 02, 2010 7:25 am |
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oldguy
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quote:
to become a licensed real estate agent you have to take a few courses i think about 2 months or so and have to read a book cover to cover if im not mistaken and the licensing exam is offered a certain amount of times each year i was thinking about it too but with the way the economy is it may be a difficult job
As you say, the economy can make it difficult now - but the license is for life, not just for the next year or two. So this is as good a time as any. IMO earning the license was the best & quickest wasy to learn the real estate business. Yes, a couple months of night classes and then sit for the State Exam, maybe a 3 or 4-hr test as I recall. I don't remember the part about 'reading a book cover to cover' but maybe we did.
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Mon Feb 22, 2010 3:30 pm |
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zairaong
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Brokers will generally be required to complete more real estate education and experience than a salesperson. A real estate agent is usually an independent contractor who provides his or her services to a licensed real estate broker on a contract basis. In return, the real estate broker pays the salesperson a portion of the commission earned from the agent's sale of the property. Real estate salesperson is an individual who can show property for sale on behalf of a seller, but who may not have a license to transact the sale and collect the sales commission. While real estate broker – A person licensed by his or her particular state to charge a fee for bringing a buyer and a seller together to purchase real estate. Real estate salespersons and brokers perform many of the same duties including: obtaining listings, determining sales price; showing properties; assisting with financing; selling property; overseeing inspections, and more.
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Mon Mar 01, 2010 8:30 am |
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carl12
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Real Estate Salesperson – An individual who can show property for sale on behalf of a seller, but who may not have a license to transact the sale and collect the sales commission.
* Assist sellers in marketing their property and selling it for the highest price.
* Assist buyers in purchasing suitable property for the best possible price.
* Acts as an intermediary between the buyer and seller.
Real Estate Broker – A person licensed by his or her particular state to charge a fee for bringing a buyer and a seller together to purchase real estate.
* Assist sellers in marketing their property and selling it for the highest price.
* Assist buyers in purchasing suitable property for the best possible price.
* Acts as an intermediary between the buyer and seller.
* Buys and sells real estate for a company or individual on a commission basis.
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Tue Mar 02, 2010 1:15 pm |
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nvrgivupevr
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Has any one had experiance with transaction broker?
"a transaction broker works with a buyer or seller or both in the salestransaction without representing anyone. A transaction broker doe's not promote the interests of one party over those of the other party to the transaction."
I didn't know my "agent" was a transaction broker until I was making an offer and she asked me to sign a form telling me she was. In the future, IWANT SOMEONE LOOKING OUT FOR ME. I don't know if this is horrible, but would to of liked to have known beforehand.
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Fri Mar 19, 2010 9:56 am |
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oldguy
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quote:
until I was making an offer
You were the buyer. Realtors represent the seller - so no one would be looking out for you anyway. Even the so-called buyer's realtors are paid by the seller, not the buyer.
To your question - no, I have never heard of a transaction broker.
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Fri Mar 19, 2010 4:30 pm |
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nvrgivupevr
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quote:
Originally posted by oldguy
quote:
until I was making an offer
You were the buyer. Realtors represent the seller - so no one would be looking out for you anyway. Even the so-called buyer's realtors are paid by the seller, not the buyer.
To your question - no, I have never heard of a transaction broker.
I understand that they are paid by the seller, but ( maybe I'm being stupid) when the agent does not have the listing on the house you are trying to buy, and there is another agent involved who has the listing and I know they would definetly have the sellers best interest in mind, wouldn't this first agent or maybe " shouldn't" they have my best interest in mind? Again, maybe i'm being stupid, in the real world maybe it doesn't work that way, but I always understood that they would be representing the buyer. This transaction broker must be fairly new because I have yet to find someone who has heard of this. Maybe I didn't do enough homework, because when i'm putting in an offer on a house that has 3 offers on this first day of being on the market, I think it's a bad time for her to tell me that she doesn't represent me.I was looking for weeks with her and she never said anything.
Oldguy you do make a good point though, I should make sure all my I's are dotted ,and t's crossed because i'm probably the only one who really cares about me. thanks
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Sat Mar 20, 2010 11:44 am |
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ed2009
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Real Estate Salesperson is the person who works for the real estate broker. Sometimes people call them realtors.
Real Estate Broker – is the person who employ real estate salesperson. Sometime people also call them realtors.
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Tue Apr 20, 2010 10:04 am |
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egoistic
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It's really easy to become a real estate agent, because all you need is your voice and convincing powers to sell a lot or home and get a percentage from it. Real estate industry is really profitable and stable once you get a hang of it.
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Sat Apr 24, 2010 7:26 am |
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clarissa_vargas
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I believe that if they are licensed they both make profit of the sales. Don't they?
I am still very unclear on the difference.
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Tue Apr 27, 2010 11:21 pm |
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