Depending on where a person’s real estate salesperson license is issued, an agent may decide to become a broker. Along with practicing in the industry, these individuals have to take pre-licensing exams and pass an examination with at least 70%. They are allowed to hire agents and associate brokers alike to buy and sell properties. The position is both challenging and rewarding.
If you’re selling your home, the agent you choose matters far more than the brokerage they work under. The brokerage is the second piece or support for your agent.
Real estate brokers do many of the same tasks that agents do. They market and list properties and represent clients throughout the buying and selling processes. If they are serving a buyer, the broker is responsible for locating places to show the customer. Regardless of who the broker is representing, the buyer or the seller, it is their job to negotiate and get them the best possible deal. In some cases, the task involves getting the highest conceivable price for a home or commercial property for the seller. Meanwhile, they have to arrange for the buyer to get the lowest rate on other occasions.
For sellers, the most important thing to think about when considering an agent’s brokerage is what kind of support the brokerage provides its agents. Brokerages often give agents free classes and educational resources so that they are up-to-date on the best practices for real estate transactions. Brokerages leverage their extensive networks to generate quality leads for their agents. Many brokerages supply their agents with useful software that helps them organize their business and makes the transaction process more intuitive for agents, buyers, and sellers. Commonly, brokerages include support staff to assist agents. Staff may include legal and tech support, human resources, accounting, and more.
Different brokerages have different expertise. Some have established their expertise in providing continuing education for agents. Others claim marketing expertise that ensures they are the most recognizable brand. However, it’s the agent who will provide the expertise we seek as our advocates in the buying or selling of our homes. The relationship with the agent is more important than the top-level relationship with the brokerage.
Additional: Buying a House that Not's for Sale
Above all else, real estate brokers are supposed to be trustworthy and honest. They must put the best interests of their clients over their own at all times, which everybody knows is a tall order, yet, it is still necessary. If it is prudent and beneficial to the customer, the broker even needs to work nicely with agents and brokers from other firms. Advertising and marketing are only half the battle. They must realize that being a real estate professional is much more than just holding a license, selling homes, and making commissions. It is a life choice that requires the person to remain courteous, respectful, and honest towards anyone and everyone. When choosing a real estate agent, it’s wise to research their brokerage to ensure they have adequate support. At the end of the day, though, your agent is an independent contractor responsible for managing their home sales. It’s their expertise that matters.