Brokers, investors and realtors oh my! - Posted by Rich

Posted by jeff on September 27, 2002 at 14:19:55:

investors are people who buy property in order to make money, simple enough. there are multiple strategies in doing this, but the basic rule is still there.

realtors are people who sell property for other people. they are also a member of the realtor board and only members of this organization can claim to be a realtor.

brokers, hmmmmmmmm. this depends. what type of broker? there are brokers that sell property, similiar to a realtor without being a member of the organization, there are mortgage brokers who specialize in findnig people mortgages from several different lendnig sources, there are note brokers buy and sell notes, and probably 50 other types of brokers.

these are very condensed versions of each, but its the simple end of it.

Brokers, investors and realtors oh my! - Posted by Rich

Posted by Rich on September 27, 2002 at 14:03:30:

Can anyone tell me the difference between a broker, investor and a realtor? Myself and 2 partners are studying REI and that question/argument came up during one of our sessions. If it is a state-specific thing, then we are located in PA, if that is of help. Thanks.

REALTORS, salespeople, brokers and investors - Posted by Rob

Posted by Rob on September 29, 2002 at 23:24:26:

Brokers and Salespeople are usually REALTORS, provided they are members of the local, state and national boards of REALTORS.

Investors need not be REALTORS because they are usually principals in their deals. They can buy and sell for themselves. But cannot legally represent others in real estate transactions unless they are licensed.

In Illinois, and most states (I believe), a salesperson must be sponsored a broker. Or if they themselves are brokers, they may “sponsor” themselves.

Generally, when you deal with an “agent” the chances are pretty good that s/he is salesperson, not a broker. It’s a matter of the degree of education s/he has received, and the tests s/he has passed.