Almost all people can’t distinguish the difference between a broker, an agent and a realtor. Some may interchange the terms they are using. The thing that distinguishes them the most is the service they can offer and to what extent they are capable of doing such. A broker is an independent body and can work on his own, whereas an agent has to be under the wing of a broker. Herewith are more of the distinguishing factors:
* Being a real estate agent is the first step in this field. An agent has got to attend real estate classes and pass the exams associated therewith. They are sometimes called associates. They affiliate themselves with firms or agencies that are managed by estate brokers. A percentage of their commission goes to the firm and the estate broker. The only problem is that in different countries, requirements for being an agent may vary. What might hold true for one country may not be acceptable in another.
- A realtor is an agent who belongs to an association of realtors and agrees to abide with the laws and espouse the code of ethics set by the association.
- A broker has undergone all the agent has done and is a step higher in position. He has undergone plenty of trainings and has continued his education to earn the title of an estate broker. He has a license and can perform on his own or have agents work for him. He has agents working for him; in turn, they receive his tutelage.
- Here in Indonesia, there are plenty of brokerage firms which can offer you their services such as rumah dijual, particularly in the areas of Pekanbaru, Balikpapan, Palembang, Kelapa Gading, Lampung and Tebet. To be better guided, it is best to watch real estate news to get a feel of the market.