What's the role of a real estate broker?

Thinking of going into real estate after high school, but I'm a bit confused about what a real estate broker actually does. How is it different from being a real estate agent? Do I need additional licenses or training?

A real estate broker typically has more training and certification than a real estate agent, which comes with more responsibilities, but also potential for higher earnings. Brokers can work independently, and they can hire agents to work under them.

Your duties as a broker can depend on whether you choose to work as an associate broker or a managing broker. An associate broker works under a managing broker, but has the ability to handle more complex tasks than a regular agent. A managing broker, on the other hand, runs the brokerage itself, handling the business aspects like hiring agents, marketing, and managing the office.

Being a broker also means taking on a more advisory role. You assist buyers, sellers, and renters in marketing and purchasing property for the right price under the best terms. This can involve presenting purchase offers to sellers, comparing properties to determine a competitive market price, and promoting properties through advertisements, open houses, and listing services.

As per the additional licenses or training, yes, you do need them. All real estate professionals start as agents, and after gaining some experience and further education, they may apply to become brokers. Typically, you need to work one to three years as a real estate agent, and then you have to pass a broker's license exam. The specifics can vary from state to state, so it’s best to check with your state's real estate commission for the exact requirements.

Entering real estate right after high school may mean starting as an agent first, then progressing to a broker as you gain experience and further your education. Alternatively, there are roles like real estate office managers or administrative assistants, which can help you gain some insight into the industry.