What is the difference between a realtor and a broker?

11th Nov 2009 by Tom Lindmark

Not much except a few years in the real estate business, some extra real estate classes and probably an extra test in most states. Think of it this way. All real estate brokers are real estate agents or realtors but not all real estate agents are brokers. Usually a broker is one who has taken the extra class study mentioned above and passed an extra test or two. They then become a broker and if they have their own firm or a large national firm designates them as the broker in charge of an office, they are responsible for the actions of all of the realtors in the office. Their job is basically to manage the realtors and make sure they adhere to the rules but most brokers are also out representing their own clients as well. Don't be awed by the title broker and don't assume they're necessarily better than a realtor. Always find the real estate agent that you think can represent you the best and with whom you feel most comfortable. If they turn out to be a bad apple then you can complain to their broker.

This answer is the subjective opinion of the writer and not of FinancialAdvisory.com