What is a real estate broker and do you need one? In general the term is used to describe someone who works between the seller and the buyer of property. Usually they not only help find a buyer or seller, but they’re also involved in making sure all the legal documents are signed and finalized and that the end deal is legal and binding. A more common term is real estate agent.
Each state has its own rules on licensing so you should do a little research to see if you live in a state that requires brokers to get a license, then make sure you only use licensed brokers. Most states have two levels licenses. The first is a salesperson’s license and once they’ve completed the coursework and passed the exam they can buy and sell property but need to work under the authority of a real estate broker.
The broker’s license is the other license, they can also be referred to as Principal or Qualifying Brokers. To get this license the applicant needs to complete even more coursework and pass an additional exam. Once this license is obtained the individual can open up his or her own real estate office.
Because each state’s laws are different the services that broker can provide to sellers and buyers is unique and, as the real estate world changes, so do the regulations.
