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And there is only one designated broker for each company.
So not true! There is only one managing broker per company. The managing broker may be the designated agent, then he designates another substitute managing broker. (Some Managing Brokers do not buy/sell on a clients behalf.)
We are *all* Brokers in Colorado, and per the contract, the Designated Broker, (buyer's or seller's) is named, and is in fact their designated agent, until and unless the managing broker designates a substitute broker (in writing signed by the parties...) at another time. Sometimes another broker is designated because the buyer or seller request another broker, or there is a family emergency, or the agent is on vacation.
BUT Mr/Mrs Moderator - we are not all *agents* So this perpetuates the myth that all licensees are *agents* or *Realtors* are you okay with that?
Last edited by 2bindenver; 05-11-2007 at 03:28 PM..
I think instead of saying let's change what you've created for us Administrator...why not say "wow, thank you so much for hearing us and going the extra mile to make things better for us".
I know Charlotte Agent said thanks...but let's recognize what a nice thing the Administrator did for you all.
That's the same in Colorado but they aren't really designated brokers.
There is only one designated broker in each company. All the other licensees in that company are agents of that designated broker. You can be called a broker in a company without being the designated broker - which means you are the agent of the designated broker for that company. Even if you have a broker's license, if you are working for a designated broker then you are the "agent" of that broker.
There is only one designated broker for every 20 agents or so.
Also, at least in California, the broker's exam is much more difficult than the agent's exam.
It's the same in Connecticut. Plus, Brokers pay much more than the real estate salesperson renewal of $225.
I'll add this, for the most part the rest of the world does not know, care or understand the difference between a realtor/broker etc. If we choose to use a company to sell our homes we're going to look for a "realtor", not a broker or whatever else they're called.
Again, be thankful that the administrator went above and beyond to help your group out here on CD. Let's hear some applause for the Admin!! wooohoooo. I SAID---woooohooooooo. Can I get an Amen? Oh, yeah, not the religion forum...
I think a designation of real estate professional makes sense. It says who is who, and means that people can really offer their expertise, and help people out without being "spammy".
Personally on a forum like this, I don't care who is a broker, who is an agent - the designation just means that you have a professional perspective about real estate.
Cmsvmom, I agree with you about "real estate professional".
A designated broker in California would be called "employing broker" in Colorado, but there is a bigger difference than this. In Colorado every licensee takes the same basic exam, and they call it a broker's exam. It is like the agent's exam in California. There is no higher exam than this, whereas in California the broker's exam is much more difficult. In fact only about 1 in 20 agents go on to pass the broker's exam in California, and fewer than this become designated brokers, which means they have passed the difficult broker's exam and have their own company.
In Colorado everyone is called a broker just for passing the basic exam. And an employing broker can sign a piece of paper calling any of the agents a "designated broker" for any transaction they have with a client. That type of thing wouldn't work here. A qualified - designated - employing - broker in California is 100 percent responsible for the actions of the agents. For an example, when a designated employing qualified broker who passed the more difficult exam and owned the company (to be clear) was out of town and assigned manager duties to another broker (assigned as managing broker but not an "officially" designated broker) in the office - an agent was representing a buyer. The buyer decided to back out of the transaction, asked for return of deposit, and the agent returned the deposit to the buyer. Because of that action, the designated broker owner of the company was held accountable by the department of real estate and lost her california broker's license due to lack of supervision of the agent. Big difference between the states.
The term Realtor, that as Hoosier Guy has said no one knows or cares about except licensees simply means the agent is a member of the state and national associations. It is not a requirement to be a member of them, and many agents and brokers are not. All it means is that someone paid the fee to be in them. Thus you can be a broker or agent, and not a realtor, you can be an agent and realtor but not a broker, and you can be a broker and realtor not an agent. What it comes down to is who you like to work with, who is going to look out for YOUR best interests, listen to you, and do the very best to help you get what you're looking for.
In fact I know of many good agents and brokers who are not members of the national associations, as they are way too busy for that, and the busiest agent, probably the #1 agent in North America was not even a member of the local multiple listing service! In fact I think he sold more than the entire mls did all on his own.
Quote:
Originally Posted by Hoosier_guy
Let's hear some applause for the Admin!! wooohoooo. I SAID---woooohooooooo. Can I get an Amen? Oh, yeah, not the religion forum...
Woooohoooooooooo, thanks to the Administrators for the great City-Data city information and forums. Thanks to the moderators, and thanks to all the members as well.
I think instead of saying let's change what you've created for us Administrator...why not say "wow, thank you so much for hearing us and going the extra mile to make things better for us".
I know Charlotte Agent said thanks...but let's recognize what a nice thing the Administrator did for you all.
I do appreciate that someone thought that giving us a *usergroup* is a good thing...The someone behind c-d has attracted a lot of Real Estate licensees.
I do spend a lot of my free time here, giving away my hard earned knowledge for nothing but goodwill (and reputation) in return (I think of it as my pro bono work)...but the first post I see when I return tonight is someone spoofing my username and posting, let's just say nothing positive...
Thank you for changing the Broker's forum to Professionals
Quote:
Originally Posted by johnlvs2run
A designated broker in California would be called "employing broker" in Colorado, but there is a bigger difference than this.
We still have managing brokers.
Quote:
Originally Posted by johnlvs2run
In Colorado every licensee takes the same basic exam, and they call it a broker's exam. It is like the agent's exam in California.
I have no idea what the salesman's test is like in CA. I do know it is much different than the Salesman's test I took in 1989.
All Real Estate is local.
I agree that it appears to be a difficult test to pass. But they let college grads skip the salesman test and sit for the brokers exam.
I am toying with the idea of taking the classes and the broker's test in CA. Just 'cause I think it will be easy.
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real estate licensees
What it comes down to is who you like to work with, who is going to look out for YOUR best interests, listen to you, and do the very best to help you get what you're looking for.
In fact I think he sold more than the entire mls did all on his own. 
