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Question by skunkaperecords: Real Estate Agent v.s. Broker?
I recently lost my great job of 10yrs in Human Resources and I am not looking to get into a new career. I have always been fascinated with Real Estate and I love to help people (honestly). California is a great state to live in and there are beautiful homes.

How exactly is a “Real Estate Broker” different than a “Real Estate Agent”?
Why are they considered more prestigious than agents?
How much more money do they make on average than an agent?
How much more stressful is it?
I noticed the education requirements are not that much more than required of an agent.

If I become a Broker do I have to lease my own place and run my own staff of agents? Like basically running my own business and competing with all of the major realtors like Century 21, Prudential, First Team, etc…?

My wife makes about k a year and I just want to get into something that I will love doing (like this) and at least be able to contribute my share. Do most agents and or brokers in the state of california make at least k a year working full time hours?

Thanks so much!

Best answer:

Answer by JD
Brokers own the company, agents work for the broker.

You’ll certainly want to learn the ropes as an agent then become a broker.

New career, lots to learn, very stressful, very difficult to be successful. Start as an agent.

Most states require x amount of years of experience to become a broker anyways.

Pay is basically the same.

Brokers can run their own shops or open up a C21 or Remax, etc. . . .

All real estate companies have brokers they are basically the manager

Avg. agent in San Diego makes 60k a year. I’m in Kalamazoo, MI and its certainly less than that. Keep in mind you have agents making 10k a year and agents making 500k a year. You get out of it what you put into it.

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Question by billy: Why is it that real estate agents on the show “Flip that House” use another agent to sell the house?
I love this program but am curious why a real estate agent who is buying and fixing up a home to sell would hire another agent to sell the house. Why not save himself the commission? If he had a n agent and a broker’s license couldn’t he do the whole thing himself?

Best answer:

Answer by kelly h
The people on Flip that House aren’t usually real estate agents. They are investors or flippers. They don’t know how much to list the house for or the market in that area. They hire a real estate agent to advise them on selling price, advertising the house with the Multiple Listing Service and showing the house.This helps them to sell it faster.

Know better? Leave your own answer in the comments!

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Question by max: If I sold my home “by owner” & the buyer had an agent, would that agent take care of all of the paperwork?
I’m considering selling my home FSBO and offering commission to the buyer’s agent. Would that agent take care of the contract, closing paperwork, etc?

Best answer:

Answer by North Shore MA Agent
The agent would take care of all the paperwork, with their clients best interest at hand. If you hire an agent, they will make sure you have all the proper legal disclosures and information and negotiate on your behalf. Without an agent, unless you hire an attorney, you have no one sticking up for your best interests.

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