Real Estate Agent vs Real Estate Broker in the Philippines

Key Differences Between a Real Estate Agent and a Broker

Whether you’re looking to buy a house or sell your property, you may encounter a real estate agent or a broker. Both these licensed real estate professionals can help you with buying or selling an estate. However, there are some differences that make each profession unique from each other in terms of qualifications. So let’s talk about what makes a real estate agent different from a broker in the Philippines.

What Is a Real Estate Professional

Real estate professionals are licensed individuals who specialize in real estate marketing. They are Filipino citizens with a bachelor’s degree and good moral character. Every three years, they need to renew their licenses with the Professional Regulation Commission of the Philippines to continue practicing in the real estate field.
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Generally, we call someone who assists in any real estate transaction a real estate agent. While this is often correct, it’s important to know that a real estate agent has a specific function. Depending on the tasks they need to perform per client, agents charge different fees. Now, a real estate broker is another specialization with a different focus and job.

Difference Between an Agent and a Broker

To better understand what makes a real estate broker different from a real estate agent, let’s break down the qualifications and functions of each. A licensed real estate broker must register and obtain a license from the Professional Regulatory Board of Real Estate Service before they can buy, sell, lease, or exchange real property.
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On the other hand, a real estate agent or salesperson is simply an expert who works for a broker to conduct real estate transactions legally. Agents are also licensed to perform tasks such as assisting clients in purchasing a listing or processing rental properties. The main function is to connect sellers and buyers, where they can earn commissions.

Requirements for Real Estate License

An agent and a broker may hold different responsibilities and qualifications, but both require a real estate license to practice legally in the Philippines. Here are the requirements to obtain this license:

• 18 years of age or above.
  
  
• At least 72 units in college are shown in the Transcript of Records.
  
• Collaboration with a licensed real estate broker. 
• 12 CPD units.
  
• Duly accomplished Application for Accreditation as a Real Estate Salesperson form signed by the broker.

Continued learning is also required for license renewal, which occurs every three years. Brokers perform many similar functions and tasks to agents, including negotiating, assisting buyers, preparing offers, and addressing issues that may arise during transactions.

Final Thoughts

Now that you know how a real estate agent and a broker are different in so many ways, it’s easier to differentiate the two in terms of functions. At REALS.PH, we work with established real estate agents to provide the best services as your most trusted real estate brokerage company in the north. Check our listings, including house and lot for sale in Baguio City, for your next property investment.