Understanding Real Estate Agencies And Real Estate Brokers

A real estate agent, realtor or broker is someone who represents buyers or sellers of commercial real estate or other property. An agent working for a brokerage is typically paid on a commission basis, to an agent representing individual buyers or sellers pay an hourly rate. While an independent broker can work privately, an independent agent normally works under a registered broker to help represent individual buyers or sellers. It is better to deal with a local agent when you are looking to buy or sell commercial real estate in that they are usually knowledgeable about the area in which they work and understand the market and business.Visit Merrick Property Group – Real Estate Agent for more details.

There are several differences between agents and brokers and it is important to understand each difference. The most significant difference between the two is the level of authority an agent possesses. Although the licensing laws for brokers and agents do vary from state to state, typically all agents are required to be licensed by the states where they conduct business. In most cases, agents are supervised by county registrars and regional planners. Brokers, on the other hand, are typically self-employed individuals with no additional oversight or licensing requirements.

The role of a realtor is to market and sell residential, commercial and industrial properties. A realtor actively promotes the availability of commercial properties for sale or lease. In some instances, the roles of a realtor and a real estate agent overlap, especially when both are involved in marketing or participating in open houses. When purchasing or selling a home, it is important to ensure that you contract with a realtor who is licensed and registered with the Department of Licensing.