Broker vs Salesperson
People often think of a broker and a sales person when they want to buy or sell a property. Brokers and salespersons are professionals who deal with real estate. However, these two terminologies differ from one region to another. In some places they are commonly known as real estate agents, and in some other places there is a clear distinction between brokers and salespersons.
Before looking at the difference between a broker and a salesperson, it is better to look at their responsibilities. There is hardly any difference between the responsibilities of a salesperson and a broker. They both have certain responsibilities like determining the value of the property, and giving guidance and suggestions on investments.
When talking about the difference between a broker and a salesperson, the main difference lies in the license requirements, and interaction with the client. Though a license is required for becoming a broker and a salesperson, it is easier to get one for working as a salesperson. On the other hand, a person will get a broker’s license only if he or she has experience as a salesperson, and has completed a certain course. A person is given a broker’s license only after passing an exam.
Brokers need more education when compared to salespersons. The job of a salesperson is a step towards the job of a broker.
Unlike a salesperson, a broker works independently. A salesperson can only work under a broker, and does not have the right to directly contract with clients. When coming to the listings, all of them are placed under a broker’s name, and not in the name of a salesperson. A broker is the person who directly deals with buyers and sellers. A salesperson is only under contract, and his income is obtained from the broker.
Summary:
1. Though a license is required for becoming a broker and a salesperson, it is easier to get one for working as a salesperson.
2. A person will get a broker’s license only if he or she has experience as a salesperson, and has completed a certain course.
3. A salesperson can only work under a broker, and does not have the right to directly contract with clients. A broker is the person who directly deals with buyers and sellers.
4. When coming to the listings, all of them are placed under a broker’s name, and not in the name of a salesperson.