Investor · Lynn, MA · Member since 2014 · 60 posts · 23 votes
Hello,
What is the difference between real estate broker and real estate salesperson certification? What investing strategies benefit from each certification?
Flipper/Rehabber · Garner, NC · Member since 2011 · 42 posts · 15 votes
12y
It depends on the state. In North Carolina, the first license you obtain is "Provisional Broker". A PB must be directly supervised by a Broker in Charge. With additional edu the licensee can get a "Brokers License". A broker is really someone who can operate with less supervision and more independance. This is not to be confused with a "Salesperson" who is employed by a home builder. As long as they are salaried employees they have no licensing requirements.
Real Estate Broker · MA · Member since 2013 · 361 posts · 297 votes
12y
In Massachusetts a salesperson must apprentice with a broker for 3 years as a salesperson before they can seek a broker's license on their own. Legally, a salesperson represents the broker in any deals the salesperson is involved with and the broker has primary responsibility and liability. Working for a broker is commonly referred to as "hanging your license with the broker". People with a brokers license can also work for another broker as if they were a salesperson.
Princeton, KS · Member since 2014 · 357 posts · 169 votes
12y
In this state, as well, a broker has additional training & licensing. A salesperson/agent must work under the supervision of a broker, even if they are not directly involved with selling to the public (i.e., an investor who has their license to use the MLS - they still have to be affiliated with a broker). Both can write offers, etc. In day-to-day dealings, either would be fine - I'd be more interested in their experience & willingness to work with an investor rather than a private home buyer.
Involved In Real Estate · Naples, FL · Member since 2014 · 41 posts · 7 votes
12y
In Florida only a Broker has Fiduciary responsibility. A salesperson must work under the supervision of a Broker and can only receive commissions from the Broker. Brokers sign and hold listings as well.
In Florida only a Broker has Fiduciary responsibility. A salesperson must work under the supervision of a Broker and can only receive commissions from the Broker. Brokers sign and hold listings as well.
Is there a waiting period under supervision in order to become a broker in Florida?
Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
12y
In TN, every brokerage firm/office has to have a "principle broker" who supervises all of the other brokers and affiliate brokers at the firm. An affiliate broker must have 3 years of experience under the supervision of a principle broker before they can sit for the broker exam. Interestingly, the owner of the firm does not have to be broker.