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This question is about what a broker does, what a sales person does, and broker.
Broker vs. Salesperson
A broker is a person who represents the parties in a transaction and is licensed to own a firm, while a salesperson is a professional who is licensed to sell products while representing a brokerage firm.
A broker is typically licensed to own a firm and may choose to work independently or to open a brokerage that hires salespeople. They must pass a licensing exam and typically earn their salaries through commissions on sold products. Types of brokers include real estate, stocks, and commodities.
A salesperson works under the direction of a broker and represents their firm. They are usually required to pass a licensing exam and may need to submit for fingerprints and background testing depending on the business area. There is less legal and financial risk when working as a salesperson as opposed to a broker.
There is overlap in the duties of a broker and a salesperson, but there are differences in how they can work and salary expectations.
Here are the key differences between a broker and a salesperson:
A broker can work independently or choose to own their own brokerage firm
A salesperson can only work under a broker and does not have the right to directly contract with clients
A broker averages $120,000 per year
A salesperson averages $90,000 per year
A technician averages $49,000 per year
An engineer averages $83,000 per year
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