Definition of Real Estate Broker

Rating: +0

Once a real estate salesperson has gained some years of experience in real estate sales, that salesperson may decide to become licensed as a real estate broker (or Principal/qualifying broker) in order to own, manage or operate his/her own brokerage.

You should also note that some states will allow a college graduate to become a licensed broker without having the the same level of experience. Commonly more course work and a broker's real state exam on real estate law must be passed. After a person has obtained their real estate broker's license, the real estate agent may choose to continue to work for another broker as they did before, this is commonly referred to as an associate broker, or they may also choose to start their own brokerage and hire other salespersons or associate brokers.