Palm Beach Real Estate Agent vs. Broker
While the terms a Palm Beach real estate agent and a real estate salesperson are often used interchangeably, their meanings are quite different. It is important to know what the differences between these terms are so you know what you are getting. These real estate workers are both real estate agents, but they are different types. They both hold real estate licenses so they are qualified to give you information. They have also passed qualification tests that prove they are prepared to work in the field. That is where the similarities end.
Where a Salesperson is on the Totem Pole Compared to a Real Estate Broker in Palm Beach
A very important difference between a salesperson and a broker is that one is an employee of the other. A broker works for a fee and a salesperson works for the broker. Brokers have all of the training and qualifications to work independently or with/for other real estate brokers. Salespeople have to work with brokers to get the experience necessary to become brokers.
Preparation to Become a Palm Beach Real Estate Agent vs. a Real Estate Broker in Palm Beach
Becoming a Palm Beach real estate agent is not as easy as getting many entry-level positions. For example, if you live in California, you have to pass at least three university real estate courses and be 18 years of age. So, a Palm Beach real estate agent must meet these standards. Real estate licenses in Connecticut require 60 hours of real estate courses. Brokers lean more towards managing a company while salespeople lean more toward the legality and ethics of selling and buying property.
In contrast, becoming a real estate broker in Palm Beach takes more education and experience than simply getting into real estate. Brokers need to get a four-year degree in real estate, pass the broker’s exam, be an agent for at least two years and complete eight university courses. The exam to become a broker is also more difficult than the exam to become a Palm Beach real estate agent.
Legal Responsibility for a Palm Beach Real Estate Agent vs. a Real Estate Broker in Palm Beach
There is a certain level of legal responsibility to every level of real estate sales. However, brokers take on more liability in that department. If they make any mistakes or even their employees make any mistakes, they are liable. The money is better, but the risk of paying out legal fees and judgments is higher.
Work Responsibilities for a Palm Beach Real Estate Agent vs. a Real Estate Broker in Palm Beach
Individuals who work on the sales end of real estate get the help of their brokers in making sales and dealing with clients. Brokers leave that up to their employees and oversee the business. When you are employing either, you can expect help with purchasing and selling issues, such as making an offer, assistance with financing, scheduling property inspections, completing legal paperwork and finding property to view.
When you put down a deposit on a property, the only worker who is qualified for receipt and handling of this money is your broker. It is up to the broker to handle the financial aspects of the deal and ensure an easy transaction.
You may be under the assumption that a broker is more qualified to advise you on your end of the deal. However, any good agent can help you with most issues. The additional qualifications of a real estate broker in Palm Beach involve running a business, which is not what you need to know when purchasing a property. The important thing is to find a salesperson or broker who works well with you.
Please click here to contact us or fill out the form below to be contacted by one of our professional agents!