BROKER ASSOCIATE A broker associate is anyone who is qualified to be issued a license as a broker, but who operates as a sales associate in the employ of another broker. They are also called associate brokers. A broker associate can be an individual, a professional corporation, or a limited liability company. Broker associates must also work under a broker like a sales associate. Because of this, a broker associate cannot be registered or licensed as a general partner, member,
CONFUSING WORD PAIRS BROKER: a real estate sales associate is anyone who holds a real estate license and values, auctions, sells, exchanges, buys, or rents real estate for compensation. REALTOR: a licensed real estate professional who is a member of the National Association of Realtors. The public often uses the terms real estate agent, broker and realtor interchangeably.
manager, officer, or director of a brokerage firm.
LICENSURE REQUIREMENTS There are some basic licensure requirements which must be met before the applicant can take the state licensing exam.
AGE All licensees must be at least eighteen (18) years old.
EDUCATION All applicants must possess the minimum of a high school diploma or a GED equivalent. They must also complete and pass the state approved pre-license course for either the sales associate or the broker license. Some states allow exemptions to this educational requirement if the applicant is already licensed with the state bar association, have taken college courses which are equivalent to the state approved pre-license course, or hold a four-year degree in real estate.
EXPERIENCE Applicants for the sales associate license do not have to have any real estate experience. For a sales associate to advance to a broker’s license, however, she must have at least twenty6|Page
