You’ve probably heard the terms real estate agent, broker, REALTOR®, listing agent and buyer’s agent. But do you know what they mean and the differences between them?
Here are the definitions of terms you may encounter on your Santa Cruz real estate agent search:
1. Real estate agent: Agents are licensed sales people. They are not real estate brokers. In fact, they must work for an employing broker and cannot work independently. An agent works under the broker's guidance and legal protection. Real estate agents are required to undergo education pertaining to real estate law and ethics.
2. Real estate broker: A real estate broker has more education than an agent, they can work independently, and they can hire other real estate agents. While many