Quantcast

How Are Real Estate “Brokers” And “Salespeople” Different?

A “broker” is licensed to represent another and for a fee in the sale, purchase, rental, or exchange of real property.

A “salesperson” — commonly called an “agent” is licensed to act under the authority of a broker and cannot directly contract with the public.


Thus, for example, no money can be paid to a real estate salesperson by anyone other than the broker under whose authority the salesperson works. And, a salesperson cannot sue a buyer or seller to collect a commission because listing and buyer brokerage agreements can only be made with a licensed broker.

For additional information, speak with brokers and attorneys in your jurisdiction.

Technorati Tags: , , , ,

Posted in: Library

Post a Comment

*