An associate-level broker in real estate assists with tasks related to selling a home without having the responsibility of running their own firm. This associate has completed the necessary field training requirements. An associate broker can perform many of the same responsibilities as a brokerage owner, but does not typically earn the same percentage of profits from a sale as a brokerage owner.
An associate broker must have a certain level of education, which includes a high school diploma or the equivalent, as well as, in some cases, college training. Before practicing as a licensed associate broker, a broker may be required to take and pass a real estate course in the region where he or she resides in order to be eligible for certification in that region. A broker is usually required to be of a certain age before being granted a license. In the United States, the minimum age is 21.
An associate broker in real estate, once licensed, acts as a middleman between buyers and sellers in a purchase, sale, or rental transaction. He or she performs tasks on behalf of the party he or she is representing. When brokering a purchase, for example, an associate broker must complete a checklist. In addition to researching and showing properties and scheduling appointments, he or she must ensure that a potential buyer is qualified to receive a mortgage. An associate broker will eventually be required to submit, negotiate, and, ideally, close a deal.
An associate broker must follow a similar routine when representing a seller. He or she is now in charge of marketing the property, which includes things like putting up signs in front of the building or home to advertise its availability, writing advertisements for it, and informing other brokers that the property is for sale. Open houses are held to show off a listed property to other associate brokers and potential buyers, and a sale must eventually be negotiated.
Although the educational requirements for becoming an associate broker are relatively lax, with the exception of passing a regional certification process, an associate broker must possess certain skills in order to be successful. Communication, for example, is an important skill because you will be in constant contact with other people. Because real estate is one of the most expensive investments one can make, maintaining a professional demeanor is also essential.