When trying to sell or buy a property, it is recommended for anyone to hire their won real estate agent. But there are different types of real estate agents that can help you. The question is which type of real estate agent can help you the most? The different types of real estate agent determine their work and specialization in the real estate business. Once you know the types of real estate agents, you’ll be able to get the right agent that can help you the most. Here are the types of real estate agent:

Real Estate Broker

A real estate broker is basically more educated than an agent. But that’s not always the case. There are different ways of getting a broker’s license. The first method is to complete a four-year degree and finished eight courses on real estate to qualify for the broker’s exams. Another method is to have at least two years of sales experience of real estate and completing eight college-level courses. The last method is to be a lawyer that has passed the bar exam to qualify for the broker’s exam.

A real estate broker may choose to work independently or hire a real estate salesperson. The Broker’s exam is way more difficult than that of a salesperson’s exams, which means that brokers are known to have a higher standard of knowledge.

Broker Associate

A broker’s associate is a broker that chooses to work under another real estate broker. They get to work on a larger real estate network to get a pay from the employing broker and have a percentage of each transaction they made.

Real Estate Agent

A real estate agent is a salesperson and not a broker. They must work under a broker and a broker is responsible for the agent’s actions. Requirements to become an agent vary from different states.

REALTOR®

A REALTOR® is either an agent or a broker. This title means that they belong to the National Association of REALTOR® and abides by its Code of Ethics as well as paying an annual due. Not all the brokers and agents belong to NAR.

Listing Agent

A listing agent is more popularly known as a seller’s agent. They are the representative of a seller and they abide by a listing agreement. A listing agent can be a broker or an agent.

Buyer’s Agent

A buyer’s agent is also known as the selling agent or a buying agent. Depending on a local custom, a buyer’s agent may require a buyer to read, understand and sign a buyer’s broker agreement. An exclusive buyer’s agent does not work for sellers but many agents would prefer to work along with buyers and sellers.

Dual Agent

A dual agent is both the buyer and the seller’s representative. Dual agency occurs when there are two agents involved that work for the same broker. Be reminded that dual agency is illegal in all 50 states.

Transaction Agent

A transaction agent is the solution to dual agency. A listing agent might find himself writing an offer to a buyer and so becomes a transaction agent. Transaction agents do not represent either the buyer’s or the seller’s party.