What is the difference between a broker and an agent in commercial real estate?

In commercial real estate in California, brokers and agents are two different roles that are both integral parts of the real estate process. A broker is a professional who is licensed and authorized by the state as a real estate professional. Brokers typically have more experience and knowledge than an agent and may provide a broader range of services. Brokers can work independently or for a real estate firm and are responsible for all aspects of the real estate transaction from sales, listing, marketing, and closing. Agents, also known as real estate salespersons, are individuals that are authorized to act on behalf of a broker and represent buyers and sellers in the real estate transaction. Agents are responsible for the day-to-day tasks in the transaction such as negotiations, contracts, and marketing the property. An agent must be licensed, and since they are not acting on their own, they are limited to the services that their broker allows. In summary, the main difference between a broker and an agent in commercial real estate is that a broker is an expert in the real estate industry who is licensed by the state to provide a variety of services, while an agent is an individual who is authorized to act on behalf of a broker and is responsible for the day-to-day tasks of a real estate transaction.

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What is the difference between a broker and an agent in commercial real estate?

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