It is important to understand who you are working with. Not all licensed real estate agents are REALTORS. Only a small fraction of licensed real estate agents and/or REALTORS become Brokers. Our commitment to our clients is that a Broker is involved intimately in all our transactions. In other words, you will work directly with a Broker.
What Is a Real Estate Sales Associate?
Most commonly called “real estate agents” by the public, sales associates are licensed professionals who facilitate real estate transactions on behalf of buyers and sellers. All Florida real estate agents work under the supervision of a licensed real estate broker and are typically paid on a commission basis.
Agents have many responsibilities, including meeting with clients, listing properties, representing buyers and sellers, holding open houses, managing properties, handling complex transactions, and working with appraisers, inspectors, title companies, and escrow officers (also known as loan officers).
Real estate agents are sometimes referred to as REALTORS®. Real estate agents and REALTORS® perform the same essential duties, but REALTORS® are agents or brokers who are also members of the National Association of REALTORS® (NAR).
Importantly, REALTORS abide by a Code of Ethics. These higher professional standards and not recognized by Agents that aren’t REALTORS. Approximately half or real estate associates in the State of Florida are actually REALTORS.
What Is a Real Estate Broker?
A real estate broker is a sales associate who continues their education and successfully receives a State real estate broker license. To become a real estate broker in the State of Florida, you must first actively work as a licensed Florida real estate sales associate for at least 24 of the past 60 months.
Real estate brokers do many of the same thing’s agents do, including listing and showing properties. However, sales associates cannot perform the duties of brokers. Unlike real estate sales associates, brokers can work independently, start their own brokerage, and hire other sales associates.
Brokers may help arrange financing from lenders for prospective buyers, which often makes the difference between success and failure in closing sales. Brokers monitor each component of the transaction to ensure a good closing. Real estate brokers also manage their own offices, supervise sales associates, market properties, and handle other business matters.
Only about 10% of licensed real estate professionals are either Brokers or Broker-Associates.