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Real Estate Agents vs. Brokers vs. Realtors – Understand The Difference

Real estate concept

Common people in Australia and various other countries in the world often fail to grasp the conceptual difference between a Real Estate Agent and a broker.

Confusions exist in contrasting real estate agents vs. realtors too; such a dilemma is true in understanding the differences of roles played by a Broker and a realtor.

Proper understanding will tell you about the acute differences in their role-play. In the following lines, we have narrated in brief about their qualifications and roles on the professional ladder.

Real estate brokers are people who continue their education past the Real Estate Agent level. After a certain period, they need to take a Real Estate Broker license exam. Licenses are offered on the basis of both educational and practical experience.

If you contrast real estate agents vs. broker, the later can work as an independent agent at real estate mermaid beach Queensland and different other states within Australia.

The most important distinction between these two is that the brokers are allowed to appoint Real Estate Agents to work for them.

Passed-out real estate agents working under brokers are called Real Estate Associate Brokers. These people can share the brokerage profits earned by the Real estate Broker. Such sharing makes additional earning above and beyond the normal commission of which they are entitled.

Real estate broker responsibilities include searching for properties matching the client’s needs. Besides, they need to conduct negotiations and prepare offers. Helping the client with other issues leading up to the closing date also forms part of their responsibilities.

They sign a contract with the client before the commencement of work. The amount of commission to be paid is clearly mentioned in such a mutual agreement.

NAR has offered the statistics of recording 1.3 million members working for the real estate industry throughout Australia. Among these, 68 percent are real estate agents. Around 20% were recorded as Brokers, and the rest was Realtors.

Read More: https://ezinestack.com/real-estate-agents-vs-brokers-vs-realtors-understand-the-difference/

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Location: Australia

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