If you’re interested in joining the real estate industry, you may have noticed the multitude of different job titles real estate agents go by – broker, associate, salesperson, etc. So, why so many titles? And what’s the difference?
When you’re first starting out in real estate, one of the hardest parts is getting familiar with the terminology. But don’t worry! We’re here to make it easy, so let’s start by breaking down each title and what they do.
Why Are Real Estate Agent Titles So Different?
Real estate agent titles are regulated by government associations or commissions, so they can vary by region. What’s more, depending on the agent’s education, the title may also look a little different. Ultimately, each title refers to the professional designation that an individual uses to convey their qualifications, expertise, or role within the field.
It’s important to remember that real estate agent titles are different for every state. Some real estate agents may have more liberty than others according to their region, state laws, and of course – their education level. The best way to figure out what title you may be designated as a real estate agent is to take a look at your government’s real estate department website.
Real Estate Agent
A real estate agent is anyone who holds a real estate license, which means they can help clients buy and sell real estate. There are many different licenses for real estate agents, and some require more classroom hours than others. A real estate license is given to individuals who complete the mandatory coursework, submit their applications for licensure, pass any necessary background checks, and pass their respective state licensing exams.
Real Estate Broker
Brokers and real estate agents share many of the same job duties. However, brokers can start their own real estate firms or brokerages. They have the ability to hire real estate agents to work for them. In addition, real estate brokers undergo additional training on topics such as taxes, laws, finances, and more.
What Are the Different Types of Real Estate Brokers?
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Designated Broker
- A designated broker is the owner of a real estate brokerage. They oversee business operations, including hiring real estate agents, setting sales goals, and establishing commissions. They’re also responsible for ensuring everyone in the brokerage adheres to state and federal laws regarding real estate transactions. This role may also be called a “broker-owner.”
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Managing Broker
- The managing broker reports to the designated broker. Typically, they hire staff including administrative personnel and agents. They manage any business operations within the brokerage and deliver reports to the designated broker. Some work with clients, while others choose to only work with real estate agent employees.
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Associate Broker
- Associate brokers have their broker license but choose to work for a broker instead of starting their own firm. They don’t manage staff – they only work with their clients. Associate brokers can also be called affiliate brokers or broker salespersons.
Real Estate Salesperson
A real estate salesperson is the same as a real estate agent. Many states choose to call agents “salespersons” instead. They are licensed to help people buy or sell real estate properties, such as homes, land, or commercial buildings. They work under the supervision of a licensed real estate broker and assist clients in various aspects of real estate transactions.
Real Estate Associate
A real estate associate helps clients rent, buy, and sell properties. They also advertise clients’ properties to other realtors and potential buyers, as well as negotiate contracts with buyers and agents by acting on their behalf.
Real Estate Specialist
A real estate specialist can have many different job duties. What they do depends on what their specialty is.
Basically, they’re an expert in a particular area of the real estate industry. They focus on one aspect of real estate – for example, they can specialize in helping people buy and sell luxury homes, and advertise themselves as “luxury home specialists.” Or, they emphasize helping clients make smart real estate investments, advertising themselves as “property investment specialists.”
Real estate specialists can also help a company with things like infrastructure design or facility planning. They can handle tasks like renting or buying places, taking care of company buildings, negotiating deals, and finding out information about real estate and construction services.
Listing Agent
A listing agent is a real estate agent who helps people sell their properties. They work with the property seller to set a price, market the property, find potential buyers, and handle negotiations to get the property sold. Essentially, they “list” the property for sale and represent the seller’s interests throughout the selling process.
Their tasks can include helping a seller come up with an accurate asking price for their home, staging their homes for pictures and tours, and marketing their home on platforms like MLS and Zillow.
Selling Agent
A selling agent is a real estate professional who helps clients find and buy a new home.
A selling agent can be a realtor, a real estate agent, or a real estate broker. But their goal stays the same no matter what level of education they have. Their duty is to help people find and buy new properties.
What Is the Difference Between a Listing and a Selling Agent?
“Listing agents” and “selling agents” may sound pretty similar, but the two job titles are actually a little different. While listing agents and selling agents often work together to close the deal, listing agents help clients market and sell their homes, while selling agents help them find and buy a new one.
Rental Agent
A rental agent is exactly what it sounds like. Rental agents help people find and lease rental properties.
Being a rental agent requires a real estate license. And, while a license isn’t always necessary for leasing agents (depending on your state), it’s immensely helpful for getting hired.
They assist renters by searching for available rental listings, arranging property viewings, and guiding them through the rental application process. Rental agents are like matchmakers, connecting tenants with suitable rental homes or apartments. As a rental agent, you might help a client find a new apartment or townhouse to rent. Or, if your client owns a property, you might be hired to help your client find tenants to occupy that space.
Conclusion
As you can see, the real estate industry offers many different job opportunities for people with all kinds of backgrounds, experiences, and personalities. Whether you prefer working behind the scenes, enjoy the technical side of things, or are an outgoing social butterfly, rest assured there’s a well-paying job in real estate that will work for you.
If you’re interested in learning more about the different career paths the real estate industry has to offer, what are you waiting for? Sign up for one of our Pre-Licensing course packages and get started on a lucrative career path today!
