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Charlette Mo…, Renter in Dallas, TX

What is the differance between a Broker and a agent?

Asked by Charlette Monteiro, Dallas, TX Wed Sep 12, 2012

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Hi Charlette,
In the realm of Real Estate, "Agents" and "Transaction Brokers" are "Brokers". Most Realtors in New Mexico act as Transaction Brokers. Some brokers function as agents. As I learned in Real Estate school, an "agent" is a broker who has entered into a contract with a "Client" or Qualifying Broker and acts on their behalf on a real estate transaction within a contractually specified scope of authority. A transaction Broker on the other hand, only facilitates the transaction without acting on their customers behalf, and there is little to no real authority given in their listing or brokerage contract. An agent might do things like interview and enter into rental\lease contracts on a property owners behlf, managing the maintenance of the propeerty, collection of rent and even eviction of tenants. A transaction broker would simply receive and present offers, transfer monies to title companies, facilitate showing of a property etc. without making any real decisions on a property owners behalf.

I'm sure there is more that can be said.. I hope this helps!
Dan Gross
Associate Broker
Exit Altura Realty
Los Lunas, NM 87031
1 vote Thank Flag Link Wed Sep 26, 2012
Hi Charlette,

Well, both are pretty much used to refer to a licensed real estate agent. In New Mexico, they also are referred to as Qualifying Broker and Associate Broker. An Associate Broker works under a Qualifying Broker. A Qualifing Broker is often the owner of a real estate brokerage/franchise.

I'm a Qualifying Broker.

Syan Real Estate
Call/Text: (505) 730-8181
Web Reference: http://www.Syan.com
0 votes Thank Flag Link Wed Sep 12, 2012
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