Friday, February 3, 2012
I am aware of the educational differences (extra classes, seperate exam), but what are the job differences? What makes them so different that they get different licenses? And finally is there a big salary difference? I am in California and looking for info specific to here. Thank you in advance!|||The broker is the person with the supervisory responsibility for the agents in the office. Agents work under the supervision of the broker. Most of the time you must have at least some experience as an agent before you can apply for a broker's license, although California will waive that for people that have a four-year degree from a regionally accredited college.
Since very few real estate salespeople or brokers actually draw a salary, the second part of your question is difficult to answer.
Brokers may (but don't always) get a percentage of the commission from each agent working under them. It depends on the contract that the agent has with the broker.
I know several agents that are making far more than their brokers, although generally brokers make more than the average agent.
Additionally, I know at least one broker that runs a "one-man dog-and-pony" show, meaning that he has no agents working for him. He's the broker, office manager, secretary, agent, chief cook and bottle washer.
One last tidbit. Since you're looking at real estate sales, you should know that while this is great fun, most new agents never make it to their first license renewal.
It's hard work, long hours, and no benefits. You are an "independent contractor", meaning that if you don't make any sales, you don't get any money (no matter how hard you work).
Count on six months with no income whatsoever, but lots of expenses going out. If you do better than breaking even in your first year, you can consider yourself a success.
You will swear that everybody on the planet is convinced that you are made of money.
If you can deal with that, then welcome to the club! It's great fun, and you get to help people buying or selling what is usually their most important asset. Do it right, and you have really helped someone. (Do it wrong, and you can seriously mess someone up.)
I get to drive around beautiful countryside all day, helping people, and I even get paid for it! What a job!|||An agent needs a salesman's license, and works for and under the supervision of a broker, who will have a broker's license.|||brokers are ultimately responsible for what the sale agent do .
Now you have to be in the business working full time 2 years before you can test to be a broker.
Good luck. Market went down quite a bit
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