What is a real estate brokerage?
A real estate brokerage is a person, a group of individuals, or a firm that has taken the necessary education and passed a broker’s license exam. This exam consists of about 500 questions and is required by state laws.
There is an important difference between a brokerage and a real estate agent. While all agents must have a real estate license, a broker is technically a level above an agent because of the extra education and license. Brokers can work for themselves or they can hire agents that have yet to complete their broker’s license exam.