When you need to buy, sell, or lease real estate, you’ll work with an industry expert to handle the transaction. The two types of professionals licensed by the state to perform this job are real estate brokers and agents. People often use the terms interchangeably, but there are significant differences between these two titles.

Real Estate Brokers

Brokers are considered higher in the hierarchy of licensing than agents. These professionals have more training, education, and often more industry experience. They’re licensed to run their own real estate firms. They can choose to operate as an independent party if they wish, or they can hire agents to work at their firm while managing the business.

A professional must have a minimum of two years of experience working as a real estate salesperson, three years working in the real estate field, or a combination of these two qualifications to become a licensed broker in New York. They must complete all salesperson education courses, with an additional 45-hour broker course.

Agents

Most people working in the real estate industry are agents. They have been licensed to represent clients selling, leasing, or buying properties. These professionals must work under a broker, who is responsible for ensuring they comply with industry laws and ethical standards. 

In the state of New York, a real estate salesperson must complete a 75-hour education course and pass an exam at its completion. Their license is valid for eight years, after which they must complete additional education courses to continue representing clients.

Jeffrey Anderson, Associate Broker, Capital Real Estate Advisors is a full-service real estate broker with more than 14 years of experience serving clients throughout New York City, NY. He specializes in the selling and leasing of commercial real estate properties and has an in-depth knowledge of the city’s submarkets to serve you best. Learn more about his real estate services online, or call (917) 568-9642 to schedule a consultation.