I am often asked why I obtained my Broker’s license after my sales associate license. For me, it was largely because I promised my Mom I would, and because I knew it would help expand my abilities in performing standards of practice, transaction negotiations, real estate law as it relates to the role, and Brokerage management should I ever decide to own or manage my own brokerage. My Mother became a Broker a couple years after she began her career and felt it was important for me moving forward in mine. So, what is the difference between a Broker and a Sales Associate?
In order to sell real estate in the state of Kentucky, you must obtain a real estate sales license. This is the initial level of real estate license necessary to practice as a real estate agent or REALTOR®. To practice, that license must be retained by a real estate Principal Broker. A sales associate may not operate a brokerage on their own. Many REALTOR®s choose to advance their training to obtain a Broker’s license. In our state, you must have completed at least 2 years of full time real estate sales, completed a Kentucky Brokerage Management course, upwards of over 300 classroom hours in real estate, and complete sections of the state exam in real estate law. Candidates must also present a business, marketing and financial plan to course constituents as part of the mandatory course work. Once the curriculum is complete, and the candidate sits for and passes the state exam, they are eligible for a Brokers license. Once a Broker’s license is obtained, that person may open their own brokerage, manage an existing brokerage, or practice as a Broker Associate, a sales associate who holds a Broker’s license.
Completing the training and obtaining my Broker’s license allows me to extend a greater understanding of standards of practice to my clients. And has helped me develop skills outside my original training. Continuing my education and keeping up with the latest information in the industry is top priority for me to provide the absolute best service I can to my clients. Becoming a Broker Associate was one more way for me to accomplish this.