It’s no secret that Boston’s real estate market presents a lucrative opportunity for would-be real estate agents. But how do you get started? Brokerage licenses, surety bonds, classes and exams: it can be a bit overwhelming at first. Let’s do a deep dive into the licensing process itself and how to Maximum Time Principle (MTP) your results so you can thrive with numerous commissions in the shortest period of time possible.
First of all, What’s the Difference Between a Real Estate Salesperson, Broker, and Agent?
Like many industries all across the world, real estate has its own vocabulary. At first, the real estate lingo might seem daunting; but you will soon realize it is quite easy. There is a difference between a broker and an agent beyond just years in our occupation. A real estate broker can work for themselves and/or run an office and have agents under their license. A real estate salesperson has to work under a licensed broker as their agent. Of course, both salespeople and brokers use the term “real estate agent” to describe their job, so it can get confusing!
The bottom line is that there can only be one primary broker for each office or corporation and all other people fall under their license. Any problems ultimately flow upwards and land on the shoulders of the primary broker to handle. The reason for this is simple; clear and concise accountability. There has to be one person in charge willing to properly regulate the code of conduct and other ethical, legal and moral obligations to the consumer.
Luckily, you won’t have to worry about all the headaches of being a broker of record for an office for at least three years minimum. Your path as a salesperson is clear and you can start day one upon receiving your license. You might never want to be a broker of record and you can be a salesperson for your entire career if you so choose. After you have three years under your belt, you might have different circumstances or opportunities that…