There is somewhat of a hierarchical pecking order in real estate. Therefore, a real estate agent is typically under their boss, the real estate broker. A broker, by the way, can also be a real estate agent. He or she can do what agents do, though oftentimes a broker gets busy supervising a whole bunch of agents and becomes consumed with that role. If a broker has several agents working for him or her, those agents give their broker part of their earnings.
If you were to think of real estate like high school, then the broker is the senior and the agent is a freshman, sophomore or junior. Some seniors are agents, too, of course.
Brokers have to be in the industry a while before they take that role on. It’s usually an earned position, after many years of getting and retaining clients, knowing neighborhoods like “the back of their hands,” and spending time researching real estate industry trends, especially as they apply to the market(s) in proximity to their office(s). Specifically, a broker is a person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. Brokers may work alone or hire agents to work for them.
The Benefits of Working With a Broker
Why work with a broker or agent, in general? They bring marketing exposure skills to the table, as well as negotiating skills and their connections/relationships to the overall mix. Say, for example, you wanted to sell your house and you put a for sale sign on the lawn outside. Not as many people would see this sign as would see that your house is for sale if it made it into “the online system,” aka the “MLS,” which is a real estate staple used for listing homes for sale. Therefore, by working with an agent and/or broker, you’re effectively expanding your reach. Furthermore, they’re there to guide you along the process of real estate transactions, which can get complicated, especially with rules and paperwork.
In Buffalo’s northern suburbs, you should choose Donna Littlefield to work with when you want to buy or sell a house. She’s a licensed real estate broker specializing in the wonderful communities of Wheatfield, Amherst and Pendleton. As a broker, she has more knowledge and expertise than a newbie agent– so you’d want to work with someone like that– experienced and knowledgeable.