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What Is An Independent Real Estate Broker?
An Independent Real Estate Broker is first a "Licensed Real Estate Professional" who has completed all state requirements (including Continuing Education) to serve the public as a Real Estate Broker.
In most states, the Real Estate Broker designation is reserved for professionals who have served an extended period of time as a Real Estate Agent or Real Estate Salesperson before they qualify to take additional training to become a Real Estate Broker. A Real Estate Broker is much more than just a Real Estate Agent who has served in the business for an extended period of time.
What is the difference between Real Estate Brokers and a Real Estate Agents?
Real Estate Brokers have additional rights and responsibilities to serve the public that Real Estate Agents do not have. These rights can include the right to do Appraisals, Manage other Real Estate Professionals and Own & Operate Real Estate Firms.
What's the difference between a Real Estate Broker and Independent Broker?
An Independent Real Estate Broker has made the decision not to increase the cost of doing business by paying large fees to a franchised company.
Franchise fees can easily cost tens of thousands of dollars. Franchises can charge local Real Estate Brokers thousands of dollars as an initiation fee. Then they can charge thousands of dollars for renewal fees and get additional income by marking up "business & promotional items" that are sold to local Real Estate Brokers. Plus, most franchises take an additional 4 - 7% from every commission Home Sellers pay the Real Estate Broker to get their home sold.
It is interesting to note that, in the beginning, all Real Estate Brokers were Independent Real Estate Brokers. Locally owned & operated companies serving the local community. Then, the big franchises entered real estate, forming large networks & charging equally large fees.
Of course, the franchises justify their expensive fees by talking about all of their benefits. Benefits like, a National Referral Network, Professional Development, Educational & Networking Opportunities that are all benefits of the National Association of Independent Real Estate Brokers. All NAIREB members get these benefits & more provided for a small fraction of the cost. That's why, our members have made the decision to operate a business free from the expensive franchise fees.
Because NAIREB members save thousands of dollars each year, this allows them to invest more in the things that are vital to serving your real estate needs.
What is the difference between Real Estate Brokers and REALTORS ®?
That's another question that we frequently hear, "the REALTOR ® question". People want to know if Real Estate Brokers or specifically, Independent Real Estate Brokers are REALTORS ® or members of the National Association of REALTORS ®. The fact is that some Real Estate Brokers are members of the National Association of REALTORS ® and some are not.
Currently, about 80% of our members are REALTORS ® and 20% are Non-REALTORS ®. We encourage all our members to get involved in the National Association of REALTORS®. In fact, NAIREB named August "National Volunteer For Service In The REALTOR® Association Month".
Remember, whatever your real estate needs, be sure to consult your local member of the National Association of Independent Real Estate Brokers first. You will see the difference!
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