Real Estate Agent Vs. Broker - What's The Difference
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4 سال پیش
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In today's video, I'm going to cover the difference between a real estate agent vs. broker.
Some other things I'm going to cover include:
Common misconceptions related to terminology
Advantages of having a brokers license over an agent or salesperson license?
What is required to get a broker license vs. an agent license?
Disadvantages of having a brokers license vs. an agent license?
Things To Note First
Terminology
“Agent”
“Salesperson”
“Broker”
“Realtor”
“Sub-agent”
“Salesperson” license is what MOST people receive.
Easier test with low pass/fail threshold (70% score gets you a pass)
Salesperson's license is useless unless you work for a broker. You cannot represent someone else or accept ANY commissions without a sponsoring broker.
“Realtor” is NOT a generic term. Member of Natl. Assoc. Of Realtors. Realtor code of ethics.
Advantages
Operate on your own
Can start a brokerage and recruit other agents to work for you
“Broker/Owner or Broker Associate” title may give you an edge versus other agents in the minds of your prospective clients.
Tax purposes
How To Earn a Broker License
In some states, like WA, all real estate salespeople are titled “Brokers”. However, there may be different levels of brokers. Broker vs. Managing Broker
In almost all states, the requirement to obtain a broker's license is much higher than a salesperson's license
Typically, there’s a requirement for the length of time as a salesperson
The required amount of experience
Additional education
Pass the broker exam
Disadvantages
Held to the highest level of the law
More classes
Much harder exam to pass with higher pass/fail limit
Possibly higher insurance and licensing costs
Liable for the actions taken by salespeople whose license you’ve sponsored
Other Options?
Build a team
LLC Brokerage
Join a brokerage that allows you to build revenue or profit share
//WATCH NEXT:
◦ Grow Your Real Estate Business From 0 - How To Start A Real Estate Business F...
◦ How TO Be Successful in Real Estate Without Cold Calling - How I STOPPED Cold Calling And TRIPLE...
◦ eXp Realty Explained (2023) - Video
//COME SAY HI!
Blog: https://www.kylehandy.com
Instagram: Instagram: realkylehandy
//CONTACT:
Send me a message: https://www.kylehandy.com/contact-kyl...
Partner with me at eXp Realty: https://www.kylehandy.com/partner/
Know someone moving to San Antonio, let my team help and receive a referral fee: https://kyleh.link/referral
//TOOLS & SERVICES I USE:
◦ Real Estate Express - Online Real Estate School - https://kyleh.link/realestateexpress (kyle40 for 40% off)
◦ REDX - Real Estate Prospecting Platform - https://kyleh.link/redx
◦ Reminder Media - Print Media & Digital Marketing - https://kyleh.link/remindermedia
◦ Coffee and Contracts - Real Estate Marketing Templates - https://kyleh.link/coffeecontracts (Kyle15 for $15 off)
◦ Canva - Graphic Design - https://kyleh.link/canva
◦ PrepAgent - Real Estate Exam Prep - https://kyleh.link/prepagent
◦ SendOutCards - Cards And Gifting Program - https://kyleh.link/sendoutcards
◦ TubeBuddy - YouTube Optimization - https://kyleh.link/tubebuddy
◦ Aweber - Email Marketing - https://kyleh.link/aweber
◦ BombBomb - Video Email - https://kyleh.link/bombbomb
◦ Chime CRM - Real Estate CRM - https://kyleh.link/chime
◦ CatalyzeAI - Seller Leads - https://kyleh.link/catalyzeai
//PRODUCTS I USE
◦ My Favorite Real Estate Books - https://kyleh.link/books
◦ Best Laptops For Agents - https://kyleh.link/laptop
◦ Real Estate Home Office Equipment - https://kyleh.link/office
◦ Closing Gifts For Clients - https://kyleh.link/closinggifts
◦ My Tech Gadgets - https://kyleh.link/techgadgets
◦ Best 360 Cameras For Real Estate - https://kyleh.link/360camera
◦ Best Drones For Real Estate - https://kyleh.link/drone
◦ Gifts For Other Real Estate Agents - https://kyleh.link/realtorgifts
#kylehandy #realestatetraining #realestateagentvsbroker
In today's video, I'm going to cover the difference between a real estate agent vs. broker.
Some other things I'm going to cover include:
Common misconceptions related to terminology
Advantages of having a brokers license over an agent or salesperson license?
What is required to get a broker license vs. an agent license?
Disadvantages of having a brokers license vs. an agent license?
Things To Note First
Terminology
“Agent”
“Salesperson”
“Broker”
“Realtor”
“Sub-agent”
“Salesperson” license is what MOST people receive.
Easier test with low pass/fail threshold (70% score gets you a pass)
Salesperson's license is useless unless you work for a broker. You cannot represent someone else or accept ANY commissions without a sponsoring broker.
“Realtor” is NOT a generic term. Member of Natl. Assoc. Of Realtors. Realtor code of ethics.
Advantages
Operate on your own
Can start a brokerage and recruit other agents to work for you
“Broker/Owner or Broker Associate” title may give you an edge versus other agents in the minds of your prospective clients.
Tax purposes
How To Earn a Broker License
In some states, like WA, all real estate salespeople are titled “Brokers”. However, there may be different levels of brokers. Broker vs. Managing Broker
In almost all states, the requirement to obtain a broker's license is much higher than a salesperson's license
Typically, there’s a requirement for the length of time as a salesperson
The required amount of experience
Additional education
Pass the broker exam
Disadvantages
Held to the highest level of the law
More classes
Much harder exam to pass with higher pass/fail limit
Possibly higher insurance and licensing costs
Liable for the actions taken by salespeople whose license you’ve sponsored
Other Options?
Build a team
LLC Brokerage
Join a brokerage that allows you to build revenue or profit share
//WATCH NEXT:
◦ Grow Your Real Estate Business From 0 - How To Start A Real Estate Business F...
◦ How TO Be Successful in Real Estate Without Cold Calling - How I STOPPED Cold Calling And TRIPLE...
◦ eXp Realty Explained (2023) - Video
//COME SAY HI!
Blog: https://www.kylehandy.com
Instagram: Instagram: realkylehandy
//CONTACT:
Send me a message: https://www.kylehandy.com/contact-kyl...
Partner with me at eXp Realty: https://www.kylehandy.com/partner/
Know someone moving to San Antonio, let my team help and receive a referral fee: https://kyleh.link/referral
//TOOLS & SERVICES I USE:
◦ Real Estate Express - Online Real Estate School - https://kyleh.link/realestateexpress (kyle40 for 40% off)
◦ REDX - Real Estate Prospecting Platform - https://kyleh.link/redx
◦ Reminder Media - Print Media & Digital Marketing - https://kyleh.link/remindermedia
◦ Coffee and Contracts - Real Estate Marketing Templates - https://kyleh.link/coffeecontracts (Kyle15 for $15 off)
◦ Canva - Graphic Design - https://kyleh.link/canva
◦ PrepAgent - Real Estate Exam Prep - https://kyleh.link/prepagent
◦ SendOutCards - Cards And Gifting Program - https://kyleh.link/sendoutcards
◦ TubeBuddy - YouTube Optimization - https://kyleh.link/tubebuddy
◦ Aweber - Email Marketing - https://kyleh.link/aweber
◦ BombBomb - Video Email - https://kyleh.link/bombbomb
◦ Chime CRM - Real Estate CRM - https://kyleh.link/chime
◦ CatalyzeAI - Seller Leads - https://kyleh.link/catalyzeai
//PRODUCTS I USE
◦ My Favorite Real Estate Books - https://kyleh.link/books
◦ Best Laptops For Agents - https://kyleh.link/laptop
◦ Real Estate Home Office Equipment - https://kyleh.link/office
◦ Closing Gifts For Clients - https://kyleh.link/closinggifts
◦ My Tech Gadgets - https://kyleh.link/techgadgets
◦ Best 360 Cameras For Real Estate - https://kyleh.link/360camera
◦ Best Drones For Real Estate - https://kyleh.link/drone
◦ Gifts For Other Real Estate Agents - https://kyleh.link/realtorgifts
#kylehandy #realestatetraining #realestateagentvsbroker
4 سال پیش
در تاریخ 1399/01/25 منتشر شده
است.
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