What a Real Estate Broker and a Real Estate Agent Is
Real estate agent and real estate broker has many distinguishing marks.They can be the training and the exams that they need to pass. The job description and their responsibilities also differ.
Many are now becoming real estate agent and real estate broker especially that the business real estate business in Cebu is booming. And many more people think that both real estate agent and real estate broker are one and the same. Well – it is high time that we need to distinguish both.
Who Works for Whom
A real estate broker can come out as a company or a as person. The key factor is the license of the real estate broker to transact real estate business. A real estate broker may have several agents working for him or her using the license of the real estate broker to transact business.
Requirements to Become a Real Estate Broker
A real estate broker has more education, training, and experience to be able to qualify for the real estate broker exam. This can be broken into 60-90 hours filed training, actual real estate marketing, and the comprehensive real estate exam.
Work Responsibilities
The burden of responsibility lies with the real estate broker and not with the real estate agent. Though transactions can be made by the real estate agents, ultimately at the end of the day – responsibility is shouldered by the real estate broker that all transactions are well done and preserved.
Capabilities of an Agent
It is usually the agent who meets up with buyers and sellers, and not the real estate brokers. It may seem to the consumers that there is very little difference in what a real estate broker and real estate agent does. That is because an agent has the license and capability in doing the basic chores that consumers need to do but mostly want to be done for them. Real estate agents are the ones who will assess the needs of the clients, the property listing they desire, and in filling-out the contracts. They also handle negotiations among two parties. So for example, if a buyer is looking for a house, the agent can show him many different houses and also get him a good deal for the property. Similarly, if a seller wants to sell a real estate property, the agent has access to all the same network as the broker that the agent is working for.
Having a real estate broker aside from the real estate agent is beneficial to the client because they can go to them when a problem occurs. It guarantees security on the part of the clients. For more information about Cebu real estate, please visit PhilCebu Properties
.
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