Team vs. Brokerage: What’s the difference?

722 409 The Busse Group
  1. A brokerage is a licensed real estate agent who wears all the hats – they are running their own independent business. In addition to being a licensed real estate agent, they must complete additional courses and testing to receive a brokers license. As a broker, they hold all responsibility if there are questions about transactions. They provide the technology, advertising, and either do or hire every task required to transact. The brokerage can be comprised of individual licensed real estate agents, a real estate team, or non-licensed supporting team members.
  2. A real estate team is a group of individuals who each have a specialty. Team leadership provides the vision, standards, and finances to make the team successful. Some team members are licensed real estate agents, while others may not be licensed and may handle aspects of real estate behind the scene such as financials or operations. Each team must be associated with a brokerage in order to conduct real estate.