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CAT | About Associate Broker's

May/09

24

Broker vs. a Realtor | What are the differences?

0 Comments | Posted by Daniel Reynolds in About Associate Broker's, Arizona Real Estate News, Buyer Information, Flipping Homes, Scottsdale Luxury Homes, Seller Carryback

Realtor vs. BrokerA broker is real estate agent that has passed the state license requirements to receive a broker’s license. A normal agent is a considered a Sales Person by definition of the Arizona State Law. We’ll refer to a sales person as an agent in this article. Once an agent obtains their license, they must join a local association to receive access to the MLS and the electronic key to open properties. Once they join a local association, their given the title, Realtor. In the southeast valley of Arizona, we have the South East Valley Association of Realtors. Any members of this group, are able to use the title, Realtor. A Broker can also be a Realtor. A Broker is a higher designation of a sales person. It’s equivalent to a salesperson having an associates degree and broker having a bachelors degree. That many not be the best metaphor but the difference of experience by state definition says the following:

You must have at least 3 years of actual experience as a salesperson or broker during the 5 years preceding your application. Each broker who employed you in the previous 5 year period must complete a Broker Candidate Experience Verification Form (LI-226) (included in the informational brochure). Submit the completed forms to the Department to establish the date through which your experience is valid (your “valid through” date)If applying for a real estate broker’s license, you must complete 90 hours of pre-licensing education and pass the examination at a Department approved real estate school, college or university. The completed Certification Questionnaire and disclosure and documentation concerning your background are required Each active-status designated* broker must attend a broker management clinic once every Continuing Education period (every 24 months).* A self-employed broker is a designated broker pursuant to A.R.S. § 32-2101(20).** See A.R.S. § 32-2136(C).

To clarify, there are two types of Brokers. Associate Brokers and Designated Brokers. Designated Brokers are in charge of supervising Associate Brokers and Sales Persons to a Real Estate Company. Each Real Estate company is required to have a Designated Broker. Only one Designated Broker can be assigned per company. Any agent that has a broker license that is not a designated broker is considered an associate broker. An associate broker if they choose, can start their own real estate company but are considered Associate Brokers as long as they are under the supervision of a Designated Broker.

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