Let’s Dive In!
In the realm of real estate, there are different levels of licensure that professionals can attain. Let’s delve into the distinctions between a licensed real estate salesperson, a licensed real estate associate broker, and a licensed real estate broker.
A licensed real estate salesperson is an individual who has completed the necessary education and training required by their jurisdiction to obtain a real estate license, in NYS 77 hours. They work under the supervision and guidance of a licensed real estate broker. Salespeople primarily assist clients with buying, selling, or renting properties. They help clients navigate the market, search for suitable properties, negotiate deals, and facilitate transactions.
On the other hand, a licensed real estate associate broker has acquired additional qualifications and experience beyond that of a salesperson with another 45 hours of education. An associate broker possesses a higher level of expertise and knowledge in the real estate industry and a certain number of sales under thier belt. They can perform the same duties as a salesperson, but they also have the ability to work independently and manage their own team of salespeople. Associate brokers have typically demonstrated a greater understanding of complex real estate transactions and possess strong leadership skills.
Lastly, a licensed real estate broker represents the highest level of licensure in the industry. Brokers have accumulated significant experience, knowledge, and expertise in various aspects of real estate. They have fulfilled additional educational requirements and have often demonstrated exceptional proficiency in managing real estate transactions. Brokers own the real estate brokerage firm. They oversee the work of salespeople and associate brokers, provide guidance and support, and may even engage in more complex real estate ventures such as property development, investment, or commercial real estate.In summary, while all three roles possess real estate licenses, the key distinctions arise from the level of experience, qualifications, independence, and the ability to manage and supervise others.
Each level of licensure represents a progression in expertise and responsibilities within the real estate industry.
Want to learn more? Call us. 716 Realty Group: 716-266-6691
About the Author and Broker:
Gregory Straus started building his real estate business in 2013, trademarked 716 Realty Group in 2017, and is the Real Estate Broker and CEO of 716 Realty Group WNY. Over his career he has managed a team of realtors closing 2900+ transactions and $650,000,000 in sales volume.
Additional Resources: chatGPT