Distinguishing a Real Estate Broker and a Real Estate Agent
Real estate agent and real estate broker has many distinguishing marks.They can be the training and the exams that they need to pass. The job description and their responsibilities also differ.
The Cebu real estate industry has recently become a fast growing business resulting to the increasing number of people becoming real estate agents or real estate brokers. But what is the difference between the two? A lot of people probably think that a real estate broker and a real estate agent are one and the same. That is not true. Although, both professions are required to take exams, their differences are several.
Who is the Boss
A real estate broker can come out as a company or a as person. The key factor is the license of the real estate broker to transact real estate business. A real estate broker may have several agents working for him or her using the license of the real estate broker to transact business.
How to Become a Real Estate Broker
A real estate broker has more education, training, and experience to be able to qualify for the real estate broker exam. This can be broken into 60-90 hours filed training, actual real estate marketing, and the comprehensive real estate exam.
Work Responsibilities
Real estate brokers’ main responsibility is to be tremendously knowledgeable about the laws that govern real estate purchasing and financing options. The real estate agents may be the ones doing most of the transactions, but it is ultimately the responsibility of real estate brokers to make sure that these transactions are done and completed properly. If a consumer has questions or concerns about his agent, he may go to the broker and request for a different one. He can also ask the broker directly to explain about transactions that concerned him as well.
Capabilities of an Agent
The real estate agent has usually the direct contact to buyers and sellers. This is especially true when the real estate broker has a big company that he or she can hardly keep up with all the dealing and transaction. The real estate agent can meet up with buyers and sellers. The agent can assess properties and do negotiations. Thus the reason why real estate agent and broker are mistakenly taken as one and same. But the end of the day - the license used to do all these real estate transaction is that of the broker - not of the agent.
Having a real estate broker aside from the real estate agent is beneficial to the client because they can go to them when a problem occurs. It guarantees security on the part of the clients. For more information about Cebu real estate, please visit PhilCebu Properties
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Written by sillyfrank on February 22nd, 2010 with
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