While the difference between a real estate agent versus a broker or principle will have little to no effect on their clients, the distinction will have some career implications for the real estate professional in question.
According to Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, the difference ultimately boils down to a higher qualification and the ability to run your own office.
To qualify as a registered estate agent, Goslett said one must have successfully completed Grade 12 as a minimum requirement before he or she can begin training.
“The qualification process includes a 12-month internship under a certified principal estate agent as well as completing a Further Education and Training Certificate (FETC):
Real Estate (NQF 4) qualification, as well as writing the final Professional Designation Examination (PDE).
“To become a principal estate agent or broker, one needs to study a bit further to acquire an NQF 5 training certificate,” he clarified.
The main reason some choose to get their broker or principle estate agent qualification is so they may open their own office and work for themselves rather than working under another real estate principle.
This allows them freedom as well as the opportunity to hire other real estate agents in order to grow their earning potential.
“For homeowners, it might not make much of a difference whether their real estate professional is a broker/principle or an agent. What really makes the difference is how strongly motivated the real estate professional is about selling the home,” he said.
Read: Five things to consider for your estate planning during the festive season
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