License Types
Legal Responsibilities
Fiduciary Duty
Act in the client’s best interest
Disclosure
Reveal all material facts
Confidentiality
Protect client information
Accounting
Proper handling of funds
Broker
A broker is a licensed real estate professional authorized to operate independently and manage real estate transactions. Brokers may own or manage a brokerage firm and are responsible for supervising sales agents working under them.
Key Responsibilities:
- Operate independently or manage a brokerage
- Supervise licensed sales agents
- Ensure compliance with real estate laws and regulations
- Represent buyers, sellers, landlords, or tenants
Sales Agent
A sales agent is a licensed real estate professional who must work under the supervision of a licensed broker. Sales agents assist clients in buying, selling, or leasing property but cannot operate independently.
Key Responsibilities:
- Work under a licensed broker
- Assist clients with property transactions
- Market properties and communicate with clients
- Follow brokerage policies and legal requirements