Ignorant question, sorry. (agent, sales, brokers, Realtor)

[Rogarven]

Sorry if this has been answered before. I searched but found no answer and if there is a tutorial somewhere, please point me to it. What is the difference between a broker and a REA? Can a person be both? Is there more experience needed to be a broker? Does the broker own the RE agency? Just trying to learn. Thanks :-)

[glamatomic]

This link explains it better than I can! Real Estate Salesperson Vs. Broker

Hope that helps!

[chet everett]

There is a move to consolidate the terms but generally the standard arangments have been that agents are supervised by a broker. A broker can (often does) not have any agents under them. There are also some states that have licensing requirements for "real estate sales assistants"...

[Rogarven]

Thanks for your response. Mostly interested in laws in TX ( where I live now) and AZ where I may be moving to in the near future.

[rjrcm]

Originally Posted by Rogarven

Thanks for your response. Mostly interested in laws in TX ( where I live now) and AZ where I may be moving to in the near future.

For AZ, a broker is an agent that has taken additional classes and passed a broker license exam. An agent has to have 3 years of full time experience out of the last 5 years when applying for a broker license. There are two types of brokers, designated and associate. A designated broker manages other agents (they do not have to own the brokerage). There may be (and often are) multiple designated brokers in a given brokerage depending on size and number of offices. An associate broker has no management responsibilities, and essentially just operates as a normal agent.