I realized that I threw this term out there without any sort of explanation, so here is a brief description of the difference between a Managing Broker and a Real Estate Agent.
WHAT’S THE DIFFERENCE?
A Real Estate Agent is certified to help people buy, sell and rent property. This includes residential and commercial real estate. Although usually you’ll find that Real Estate Agents have a niche and focus exclusively on one facet of real estate. I’ve chosen to focus exclusively on helping clients buy and sell homes (residential and investment properties) and leave commercial real estate and property management to those who make that their field of expertise! That is what a Real Estate Agent (in over simplified terms!) is certified to do.
In addition to helping clients buy/sell/rent or manage real estate, a Managing Broker is licensed to supervise other Real Estate Agents. They could (with a Designated Broker certification) open and run their own office. My intention in getting my Managing Broker’s License is NOT to start supervising other agents. This was the next step in my career to expand my knowledge and service to my clients. Real Estate Agents commit to providing the standard of care and service at the level of an attorney. In order for me to continue to do this in good faith, it was necessary for me to expand my knowledge and earn my Managing Brokers license.
REAL ESTATE AGENT VS. REALTOR®
Here is a quick summary on the difference between a Real Estate Agent and a REALTOR®. Every Real Estate Agent is not a REALTOR®, but fortunately most are. REALTORS® are held to a higher ethical standard and must adhere to the Code of Ethics. REALTORS® pay additional dues to the National, State and Local chapters of the REALTOR® party. This money goes to fight and protect homeownership rights. The REALTOR® party is the largest lobbying party in the nation.