How Are Real Estate “Brokers” And “Salespeople” Different?
August 30th, 2008 By Peter G. Miller
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.
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