In this post we’re going to look at: What is a South Pasadena Real Estate Broker? Why is the South Pasadena Agent Broker relationship so essential to Buyers and Sellers?
This question comes up all the time and it’s just as confusing. There is a huge distinction between a real estate agent and a real estate broker. A South Pasadena Real Estate Broker has passed a state exam to become a real estate agent and has worked as an agent for many years.
The broker has then passed an entirely different state exam and has been issued a Broker Lic. It is good to know that only brokers can be paid a commission in the state of CA.
Additionally, brokers can then pay their South Pasadena Real Estate Agents under them a part of the commission. All purchase contracts used to purchase a property and listing contracts used to sell real estate are the property of the broker.
As a result, you may hire a South Pasadena Real Estate Agent to buy or sell real estate but the broker is the one who is ultimately responsible for the transaction and should be working with the South Pasadena Real Estate Agent the entire time.
On the other hand, a South Pasadena Real Estate Agent must pass a state exam in order to get a real estate license. The South Pasadena Real Estate Agent then must “Hang” their Lic. under a broker. Additionally, Real Estate Agents can not work independently and must work under the employ of a broker.
Why Was This Relationship Created?
To protect the consumer. The founding relationship between broker and South Pasadena Real Estate Agent was put together so that newer South Pasadena Real Estate Agents could ask questions, get recommendations and receive guidance from their more experienced South Pasadena Real Estate Broker. This connection would assist and make sure that consumers were over protected and very well taken care of.
What Has Happened To This Relationship?
With large South Pasadena Brokerages, such as Keller Williams, Compass, or Sotheby’s, a handful of South Pasadena Real Estate Agents have never even met their broker! They do not have a clear line of communication to ask advice and guidance.
Our South Pasadena Listing Agents say it is pivotal when one is buying or selling to ask your South Pasadena Real Estate Agent if they even know who their broker is? Can they call their broker if need be? Is their broker available to help out? Will the broker oversee your transaction?