Broker and Agent

Can real estate agents work independently?

No, real estate agents work under the supervision of a licensed broker and are not typically authorized to work independently.

How is an insurance agent compensated?

Insurance agents earn commissions from the insurance company for policies sold. The commission amount can vary based on the type and size of the policy.

Can insurance agents sell policies from multiple companies?

No, insurance agents typically represent a specific insurance company and sell policies offered by that company. They are exclusive representatives of their affiliated insurer.

Can real estate brokers work independently?

Yes, real estate brokers can work independently, managing their own brokerage. They may also choose to work for larger real estate firms.

How is an insurance broker compensated?

Insurance brokers earn commissions from insurance companies for policies sold. The commission amount can vary based on the type and size of the policy.

A Broker is a professional who acts as an intermediary in various industries, helping parties involved in transactions achieve their objectives. The specific roles and responsibilities of brokers can vary based on the industry and the type of transactions they facilitate, whereas, an Agent is an individual or entity authorized to act on behalf of another party, known as the principal, in various capacities. The agent has the authority to make decisions, represent the principal, and conduct transactions within the scope of the agreed-upon tasks.