What Is a Real Estate Broker in the Realm of Selling Homes?
While every industry has its own array of job titles and insider terminology, the real estate world might be one of the most perplexing. When you hear terms like broker, Realtor, real estate agent, or salesperson used interchangeably or perhaps in the same sentence, it can be tough to tell the difference. Do they all do the same thing? What is a real estate broker’s job if not to sell your home directly?
To better understand the difference between a real estate agent and a real estate broker, we reviewed industry resources from the National Association of Realtors and spoke with Lonnie Bush, owner, CEO, and principal broker of Lonnie Bush Real Estate in Virginia Beach, Virginia. An unconventional broker in his own right, Bush shared valuable insights into the role of this oft-misunderstood title.
First, a quick roll call
With the caveat that each state’s real estate licensing requirements and resulting titles will differ (for example: in South Carolina, new agents earn a Real Estate Salesperson license; in Oregon, all agents are licensed under the title of Broker and earning a Principal Broker license would be the next step), here are the most common titles of a person involved with real estate sales, and what those titles typically mean:
