Definition of "Employing broker"

Mariette  Gagne real estate agent
Mariette Gagne, Real Estate Agent Market Place Realty, Inc.

That licensed broker who employs a licensed real estate salesperson for renting and selling real estate. This broker must pay commissions to the real estate salesperson for real estate transactions.

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Comments for Employing Broker


Gerald Fleckenstein Gerald Fleckenstein said:

What are all the requirements in colorado to become an employing broker?

Dec 18, 2020  20:19:01

 
Real Estate Agent

Hey, Gerald!

Becoming an employing broker is very similar in all states. The exam will vary in content and context from state to state, but this might be the only difference you encounter. First, you need to know how to become a real estate agent before you become a broker. After you did your pre-licensing education and passed the final exams, you can work as a real estate agent under a broker. Going one step further requires you to take the Colorado Real Estate Broker License exam, submit fingerprints at the Colorado Bureau of Investigation for background checks, and have an E&O insurance policy in place.

Dec 24, 2020  06:42:12
 
Kraig Forbes Kraig Forbes said:

What is the difference between employing broker and managing broker?

Sep 09, 2020  18:15:24

 
Real Estate Agent

Hey, Kraig!

An employing broker is the person you come in contact with if you want to start working as a licensed real estate salesperson. It is mandatory for a real estate agent to have an employing broker listed on their application in order to receive an active license. An employing broker also has the responsibility of mentoring agents, holding the license of the agents, provide office space, collect commissions, and make payouts to agents. A managing broker is a person designated to represent the company in front of the Commission. In order to be the manager of the company, you need to have the Managing Broker Eligible on your license. Managing brokers are higher-level brokers tasked with managerial responsibility in a firm.

Sep 16, 2020  03:32:44
 

 

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