RE Managing Broker vs. Agent/Relator

[Terran]

A friend from Washington told me to work only with ?Managing Brokers? verses an Agent or Relator.  This is because the Managing Broker would have more years of experience and have to pass stringent exams.  Is this true?

 

[usctrojancpa]

A friend from Washington told me to work only with ?Managing Brokers? verses an Agent or Relator.  This is because the Managing Broker would have more years of experience and have to pass stringent exams.  Is this true?

Different states have different requirements to become a broker.  A managing broker is just a broker who manages a realty office of agents.  It doesn't mean that they are anymore experience or better than any other agent.  In California, as long as you meet the educational requirements you do not have to have any years of experience being an agent to become get your broker license.  The broker exam versus the salesman exam is marginally more difficult as it covers some of the admin that's required being a broker.  For myself, I prefer to work under a broker so that I do not have to deal with liability, file retention, and other administrative requirements of the DRE.  Being a broker or managing broker does not make you better than a regular agent.

 

[irvinerealtor]

A friend from Washington told me to work only with ?Managing Brokers? verses an Agent or Relator.  This is because the Managing Broker would have more years of experience. and have to pass stringent exams.  Is this true?

Managing broker = office manager for a brokerage. Many of the larger brokerages do not allow their managers to compete with their agents.

I would tend to disagree with the generalization that your friend made. Some agents are very experienced, and some brokers are very inexperienced, but have the license.

Neither the agency exam nor the broker's exam have very much to do with the actual practice of real estate.

My suggestion to you would be to interview several people, and work with whom you are comfortable with. Questions might include:
# of total transactions?
# of recent transactions (in last year)?
approximate % buyer rep vs. % seller rep?
will the broker rebate/kickback? (hat tip usc) 
years of experience?
years of local experience?
areas of specialization?
how many active clients/partners?
how many active escrows?
how many current listings?
how much time can he/she dedicate to you?
and any other expectations you might have...

Good luck,
-IrvineRealtor

 

[usctrojancpa]

A friend from Washington told me to work only with ?Managing Brokers? verses an Agent or Relator.  This is because the Managing Broker would have more years of experience. and have to pass stringent exams.  Is this true?

Managing broker = office manager for a brokerage. Many of the larger brokerages do not allow their managers to compete with their agents.

I would tend to disagree with the generalization that your friend made. Some agents are very experienced, and some brokers are very inexperienced, but have the license.

Neither the agency exam nor the broker's exam have very much to do with the actual practice of real estate.

My suggestion to you would be to interview several people, and work with whom you are comfortable with. Questions might include:
# of total transactions?
# of recent transactions (in last year)?
approximate % buyer rep vs. % seller rep?
will the broker rebate/kickback? (hat tip usc) 
years of experience?
years of local experience?
areas of specialization?
how many active clients/partners?
how many active escrows?
how many current listings?
how much time can he/she dedicate to you?
and any other expectations you might have...

Good luck,
-IrvineRealtor

Very well put...at the end of the day it comes down to who you feel you most comfortable representing you as your realtor.  Having a good working relationship/chemistry is the key.