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To: gubamyster
Forgive my ignorance, gub, but what is the difference between a real estate broker and a realtor?

I can't believe I have to ask an elementary question such as this. :)

28 posted on 11/18/2003 3:29:43 PM PST by DumpsterDiver
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To: DumpsterDiver
Forgive my ignorance, gub, but what is the difference between a real estate broker and a realtor?

No apology necessary. Those terms are usually confused & used loosely. The term "Realtor" means you belong to the National Association of Realtors.

The real distinction is between broker & agent. An agent must work for a broker who reviews & signs off on the agent's paperwork. The broker gets the full commission & then splits it with the agent. So if you are an agent you must split your commission with your broker. However, if you are a broker, & complete the deal yourself, then you get the full commission. A broker can own their own company & complete sales/purchases on their own.

33 posted on 11/18/2003 3:39:43 PM PST by gubamyster
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