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

Real estate agents and brokers are both involved in the sale and purchase of residential real estate in New York. However, there are important differences between these two roles. A real estate agent typically works for a real estate broker. The agent is licensed to list and/or sell a property, as well as represent buyers in negotiations. They are the primary point of contact for clients, but ultimately answer to the broker. A real estate broker is more experienced than an agent and has more responsibility. The broker has gone through more education and testing, and is licensed to manage their own business. Brokers are ultimately responsible for all transactions involving real estate agents, and can buy and sell real estate, as well as represent clients. In summary, real estate agents work for brokers and have a more limited scope compared to brokers. Agents list and/or sell properties and represent buyers, while brokers work for themselves and are responsible for managing all transactions involving agents. Ultimately, brokers have more responsibility and experience and are the ultimate authority for real estate transactions.

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

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