What is a Real Estate Brokerage?
A real estate brokerage is a corporation or agency that is run by an owner-broker or managing broker who is responsible for the actions and transactions of the agents and brokers in his or her employ. This individual may also be known as a managing broker. A brokerage can range in size from a one-person operation to a multinational corporation employing thousands of salespeople across the country.
In contrast to the standard agency structure, an Exclusive Buyer Agency or Exclusive Buyer Brokerage is dedicated solely to the representation of homebuyers and does not promote properties or accept listings. The National Association of Exclusive Buyer Agents is the body that grants certification to exclusive buyer agents (NAEBA). The protection of buyer-clients is a primary consideration in the development of the NAEBA Standards of Practice and Code of Ethics.
This is the most significant benefit that may be gained from using NAEBA Exclusive Buyer Agents. As the buyer, you can trust that these real estate agents and brokers will always have your best interests in mind. These real estate brokers do not work for the person selling the property; rather, they focus solely on serving your needs as their client and will advocate on your behalf throughout the buying process.
Is there a difference between a real estate agency and a brokerage?
Both real estate agents and brokers are experts who are skilled at guiding their clients through the complex process of selling, purchasing, or renting homes. This is a service that both types of professionals provide to their customers. However, real estate brokers often have more extensive training than real estate agents, and they frequently take on supervisory duties, monitoring the performance of real estate agents who work for them.
How exactly does one go about becoming a broker?
- Attend a real estate sales class that has been approved by the state. First and foremost, real estate brokers have to have proper education.
- Successfully complete the real estate agent license exam required by your state.
- Get a job in the real estate industry.
- Get real estate certifications.
- Attend a real estate broker training class that has been approved by the state.
- Clear the test to become a real estate broker.
