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

In Virginia, a real estate agent and a real estate broker are distinct professionals involved in residential real estate transactions. Though the terms are often used interchangeably, there are significant differences between the two. Real estate agents are individuals licensed to act on behalf of clients in the negotiation and sale of real estate, and they work with the assistance of a broker. To become a real estate agent in Virginia, an individual must complete the coursework and exams necessary to obtain a license. Once licensed, they can advertise themselves as real estate agents and help clients find, negotiate, and purchase properties. Real estate brokers, however, do not work for clients. They are independent and own their own businesses. They typically hire real estate agents to work for them and bring on other staff to manage customer relationships. They also have the authority to do anything a licensed real estate agent can do, including the right to sign contracts and receive commission. In conclusion, the distinction between a real estate agent and a real estate broker in Virginia is significant. Agents are licensed professionals working for someone else, typically a broker. Brokers, on the other hand, are independent professionals and own their own businesses. They have a higher authority than agents and are able to act on behalf of clients, sign contracts, and receive commissions.

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

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