Thursday, October 12, 2017

Demystifying Real Estate Titles and Positions

Based in Salem, Oregon, Paul Kerley founded Commercial Property Resources, Inc., in 1983. Paul Kerley has managed more than 1,400 residential rental units and is licensed to broker commercial properties throughout Oregon.

Many individuals confuse real estate positions such as “broker,” “agent,” and “salespeople.” Those who go into real estate transactions with an understanding of the role of each businessperson involved may not feel as confused during the process.

The term "real estate agent" is something of a catch-all: anyone who earns a real estate license is a real estate agent. Sales professionals and brokers are both technically real estate agents. They can show properties to prospective clients and, depending on the full extent of their qualifications, can produce contracts. The catch is that qualifications to become an agent vary from state to state. Hence, most states require agents to take a minimum number of classes to receive a license to sell and show real estate within that state.

Although a real estate broker is also an agent, brokers undergo training and education beyond the minimum requirements for licensure. They must pass a state broker's exam, after which they may work alone or hire agents to work under them.