What are the differences between an agent and a broker?

An agent and a broker are both involved in business transactions in North Carolina, however, they have distinct roles. An agent is someone appointed by a person or business to represent them in a transaction. An agent acts on behalf of their client and is responsible for carrying out a transaction according to the instructions that have been given. A broker is someone who facilitates the buying and selling of goods between two parties. Brokers may act as intermediaries between buyers and sellers, and they are typically licensed and experienced in the business of buying and selling goods. Agents are bound by a fiduciary duty to their clients and are responsible for carrying out the instructions provided by their client. Brokers, on the other hand, typically do not represent either side of a transaction, and their main responsibility is to help complete a successful transaction. Brokers may provide advice to buyers and sellers, but they do not make decisions on behalf of either party. In North Carolina, a broker must be licensed and is subject to certain ethical practices and rules that protect the public and ensure fair business practices. An agent, however, is not required to be licensed and is not subject to the ethical practices and rules imposed on brokers. In conclusion, the main difference between an agent and a broker is that an agent represents one party in a transaction, while a broker does not represent either side and instead helps facilitate a transaction between two parties.

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What are the differences between an agent and a broker?

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