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Old 03-24-2010, 06:10 PM
 
87 posts, read 227,049 times
Reputation: 64

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A. What services do a Real Estate Broker:

1. Give to a Real Estate Salesperson.
2. Give to a Client.

B. Are both of these situations correct/possible uses of the term 'broker':

Jane Smith is a Real Estate Broker.
Keller Williams is a Real Estate Broker.

Thx.
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Old 03-24-2010, 06:18 PM
 
Location: Hernando County, FL
8,489 posts, read 17,125,805 times
Reputation: 5397
Each broker offers different things to an agent and a client. Some are just figure heads that no one ever sees as in some of the larger 100% firms. Some are hands on in the office every day.

Keller Williams is not a broker, they are a company.
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Old 03-24-2010, 06:32 PM
 
Location: Salem, OR
13,642 posts, read 30,841,713 times
Reputation: 11848
Some states have salespeople and some have brokers. A company with brokers is a brokerage. So KW is not a broker, but a brokerage.

Oregon has brokers and Principal Brokers. Principal Brokers can supervise themselves and others. I have another agent at my company and he is a Principal Broker as well, so we both supervise ourselves. The more common structure is for a company to have a Principal Broker (some areas call it a Managing Broker) who then supervises all the brokers underneath them.
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Old 03-24-2010, 06:40 PM
 
Location: Cary, NC
30,715 posts, read 53,738,940 times
Reputation: 29139
In North Carolina, we do not have Licensed Salespersons any longer.
We replaced them with "Provisional Brokers." Sleight of hand, with the wave of a wand.
But, now, within three years of achieving licensing, Provisional Brokers must complete the course hours to become Brokers.
I.e., we are an "All Broker State."

Then the Broker can qualify to supervise a firm, to be a "Broker-In-Charge." AKA, a "BIC."
To make it easier for folks from other states, we usually refer to the BIC as the "Broker."

The BIC is responsible to supervise the activities of Provisional Brokers (salesperson) to preotect the public.
That means, by the letter of the law, that the Provisional Broker must work from the office, not from home.
And, de facto, the BIC must advance the training of the Provisional Broker, as mere licensing is not nearly enough to let a newbie practice real estate.

Once a Provisional Broker attains Broker status, the liability of the firm is lessened dramatically. The Broker is expected to deport himself as qualified for the job, and accepts more liability than the Provisional Broker.

Bottom line from the NC Real Estate Commission? Any BIC who hires a Provisional Broker is nuts. They can say as much forever, but everyone has to start somewhere, and there is too much profit to be gained by giving newbies their start.
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Old 03-24-2010, 07:59 PM
 
Location: Tempe, Arizona
4,511 posts, read 11,349,611 times
Reputation: 2178
In AZ we have licensed salespersons, associate brokers, and designated brokers. An associate broker may or may not manage others, and a designated broker is in charge of an office (or owns their own brokerage). A licensed salesperson can become a broker after having 3 years active work experience out of the last 5 years with appropriate course work and testing.
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Old 03-24-2010, 08:18 PM
 
Location: Salem, OR
13,642 posts, read 30,841,713 times
Reputation: 11848
Quote:
Originally Posted by rjrcm View Post
In AZ we have licensed salespersons, associate brokers, and designated brokers. An associate broker may or may not manage others, and a designated broker is in charge of an office (or owns their own brokerage). A licensed salesperson can become a broker after having 3 years active work experience out of the last 5 years with appropriate course work and testing.

You know we in the real estate world make it easy on the public.

salespeople
associate broker
designated broker
provisional broker
principal broker
managing broker
broker-in-charge

It's no wonder consumers have no idea who to go to when their agent isn't performing well for them.
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Old 03-24-2010, 08:34 PM
 
Location: Cary, NC
30,715 posts, read 53,738,940 times
Reputation: 29139
Quote:
Originally Posted by Silverfall View Post
You know we in the real estate world make it easy on the public.

salespeople
associate broker
designated broker
provisional broker
principal broker
managing broker
broker-in-charge

It's no wonder consumers have no idea who to go to when their agent isn't performing well for them.
One day in their quest to destroy the industry, the Federales will make brokerage a Federally-regulated business.
Then we will all be the same, and the consumer will be messed up beyond recognition.
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Old 03-24-2010, 09:50 PM
 
Location: Salem, OR
13,642 posts, read 30,841,713 times
Reputation: 11848
Quote:
Originally Posted by MikeJaquish View Post
One day in their quest to destroy the industry, the Federales will make brokerage a Federally-regulated business.
Then we will all be the same, and the consumer will be messed up beyond recognition.

I'd rather we just make it harder to be a broker...

I think we are a long ways away from being regulated that way, unless you have read something that I haven't. Even MD's and attorneys are licensed from state to state.
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Old 03-25-2010, 11:05 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 18,177,708 times
Reputation: 6343
Some days I feel Broker than other days. The license allows you to lose money left and right. I think my impending vacation is affecting my attitude. LOL

In CA, a corporation must have a designated broker for the corporation. If an agent of mine passes the brokers test they become an associate broker.
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Old 03-25-2010, 05:10 PM
 
Location: DFW - Coppell / Las Colinas
29,079 posts, read 33,393,741 times
Reputation: 34464
Quote:
Originally Posted by MikeJaquish View Post
One day in their quest to destroy the industry, the Federales will make brokerage a Federally-regulated business.
Then we will all be the same, and the consumer will be messed up beyond recognition.
Yes but then we will have great Govt insurance payed for by your neighbor who might still have a job.
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