What is an Associate Broker?
FAQ: What is an associate broker, anyway?
One of my goals for 2014 was to pass my Associate Broker Licensing Exam, and I’m proud to say that I did it. But what is an associate broker? It’s a question I’m often asked by clients. An associate broker has achieved the highest level of education possible in real estate—a graduate degree of sorts. The title also indicates an individual’s commitment to being the best they can in their field.
In Utah, an associate broker must take 120 hours of broker-specific classes, pass an exam with both state and national sections, and have actively worked as a real estate salesperson for five years with a requirement of transactions completed.
What does my associate broker designation mean for my clients, both buyers and sellers? It means that I have a deeper knowledge of the sale of real estate in the state of Utah, a broader range of experience in transactions, and a stronger ability to serve my clients.
Common Titles for Real Estate Professionals
Whether you’re entering the real estate market for the first time or you’re a seasoned property owner, you may find real estate professional titles a little confusing. Sometimes consumers use these titles interchangeably. But important differences exist between the roles of the various professionals. Particular titles also entail different requirements. State governments regulate the real estate profession, so specific titles may vary from state to state. The most common titles you will come across are:
Real estate agent: Anyone who earns a real estate license can be called a real estate agent, whether that license is as a sales professional, an associate broker, or a broker. State requirements vary, but in all states you must take a minimum number of classes and pass a test to earn your license.
Real estate salesperson: Another name for a real estate agent.
REALTOR®: A real estate agent who is a member of the National Association of REALTORS®, which means that he or she must uphold the standards of the association and its code of ethics.
Real estate associate broker: Someone who has taken additional education classes and earned a broker’s license but chooses to work under the management of a broker.
Real estate broker: A person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. Brokers can work alone or they can hire agents to work for them.