Have you heard of the terms ‘real estate agent’ and ‘real estate broker’, but are unsure of whether these are the same or different? Don’t worry, you have come to the right place.
In this blog, we will explore the difference between a broker and agent and what you can expect from each!
Real Estate Agent
A real estate agent is a licensed real estate professional who is responsible for representing clients who want to buy (buyer’s agents), sell (listing agents), or rent real estate. They are paid a commission when the deal is complete, and work on behalf of a brokerage or other agent. Real estate agents can:
- Provide information about property values and neighbourhoods
- Connect sellers with buyers
- Share listings with buyers
- Assist buyers and sellers with paperwork
Real Estate Broker
Meanwhile, a commercial real estate broker is similar to an agent, but has obtained a broker licence. Most brokers will have been an agent at one point. They are paid on commision and also get a cut of their agents’ commissions. They can do everything that an agent can do, plus:
- Manage their own firm and hire agents to work for them
- Act as a mediator during a legal dispute
- Oversee real estate transactions conducted by their agents
- Move money in escrow accounts
Which is Better: Broker or Agent?
If you are undecided between a real estate broker or agent, there is no need to worry – both can assist with helping you find the right property for your needs or sell your property to a reliable buyer. For someone with more experience and expertise, a property broker may be the better choice.
At NZ Commercial Property Brokers Ltd, our team of licensed real estate agents and commercial property brokers can help you find the right property for your commercial needs. Rest assured that our commercial property brokers in Hamilton have the extensive experience, expertise, and qualifications to help you find your dream commercial property, no matter if that is a commercial property to own or a property to rent. Contact us today for more information or for any further enquiries.