There is always a boss. No matter if you work for yourself, work for a convenience store, or a major corporation, you will find out that there is always a boss. You may not like your supervisor but they are there to stay.
The estate industry is the same way. There are the workers and there is the person who tells them what to do and what the rules are. If you become an estate agent, you are not going to escape supervision. It is the reality of life.
Take a few minutes to read our article and see which is which.
This is the boss. A real estate broker has agents working for him in his firm. Generally, a broker has his own brokerage house and he or she supervises the agents he or she hires.
Aside from the different laws in the country, brokers create and enforce the rules governing the operation of their estate business. That is just one difference between a broker and an estate agent. There are other differences as well.
One of those differences is in their level of education. Since the agent has to pass a broker’s test, to get their broker’s license, they have to study hard. The subjects they study are ethics, insurance, contracts, and taxes. They must go in-depth in those studies if they are going to pass that test.
The next difference will be that the broker is generally more experienced than the estate agent. They have had to be an estate agent for a minimum of 3 years before they can apply to take their broker’s license test.
But many brokers may have been an agent for many years prior to taking that exam. Once passed, the broker takes on a lot more responsibility than an agent will have.
In this what is a real estate broker vs agent comparison, the agent is on a lower level than the broker. Their responsibilities may be lighter and easier to manage than the broker thus they get a little bit more freedom to work.
The agent’s definition and primary duty are to help owners market and sell their homes or commercial property. If you want to get technical, an estate agent is merely a salesman earning a commission when they sell a home, etc.
The rules to becoming an estate agent are not as stringent as becoming a broker and most estate agents can be trained by the broker. You do not need a college degree or experience to be an agent while you need at least 3 years to become a broker.
Also, the agent is the person in the office that has the most contact with sellers and buyers. They represent the company and are its face in the real estate world.
According to Payscale, the average salary for an estate broker is 30,000 GBP. This figure is confirmed by Glass door which sets the average broker’s pay at 33,000 GBP.
That seems paltry compared to what the average estate agent makes. Their average salary is often cited as being just over 40,000 GBP. Of course, both salaries can go up as the estate agents make more sales over the course of a year.
Some jobs offered in the UK start at roughly 90,000 GBP while others are far lower and under 15,000 GBP. There is still more than one list for the middle of these two extremes and they start at 54,000 GBP.
Agents can earn up to 100,000 to 250,000 GBP if they work hard enough and sell in London. The salaries will depend on how hard the agents work. Other sources place the average broker salary between 55,000 to 80,000 GBP with the median level at 62,000 GBP.
The broker’s main duty is to oversee his or her staff. They run the office and make sure all contracts are legal and do not cross any ethical lines. They also pay their agents.
There are other duties but not that many websites talk about the specifics of their job. Instead, they focus on the estate agent’s duty and make sure everyone knows what they are to do. What follows is a list of duties your estate agent should be doing for you.
While this is just a guess in most cases, it is an educated guess that comes very close to the real value of your home.
The estate agent is to market your home so that everyone looking for one can see the price, the location, and so on. Then they contact their agent to see the home.
Your agent can take prospective buyers to your home as well.
That is an American term but it is the same as conducting viewings. The agent picks a time and shows your house to all who show up. The agent has to endure a lot of false leads as people merely want to see inside your home and how you live.
The agent must make sure the buyers they bring to you through an offer sheet are capable of buying your home. They also help in all aspects of the sale including negotiating those offers.
When you want a top brokerage firm handling your sale, just give us a call. We have over 10 years in the estate sale business and our agents and brokers are among the best in the country.
Our expertise in the UK market helps you get the best-qualified buyer possible So you can move on to the next stage of your life. It pays to go with the best as you get the best service possible.
Give us a call first so we can show you the difference between us and our competitors.
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