What Are The Differences Between A Licensed Real Estate Broker and A Licensed Real Estate Agent?
The terminology used to identify real estate professionals differs a little from state to state. Brokers are usually required to have more education and experience than Salespersons, commonly called real estate agents. The real estate person you normally deal with is a real estate Salesperson. The real estate Salesperson is licensed by the state, but must work for a state licensed real estate Broker. All listings are placed in the Broker’s name, not the real estate agent’s. A Salesperson license allows you to perform all the functions of a real estate professional while working under the sponsorship and direction of a Broker. The Broker license allows you to work independently, representing others as well as yourself. It will also allow you to sponsor other licensees and act as manager (Broker of Record) or owner (Broker-Owner) of a real estate firm. A Broker/Salesperson (the official designation name in New Jersey, is also shown as Broker-Salesperson or called a Broker Associate with
