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Real Estate Brokers vs. Real Estate Salespersons
While most people understand that buying and selling real estate as a profession requires a license, few know that Wisconsin has two levels of real estate license. Fewer still understand the differences between these two licenses. The basic license is the “Real Estate Salesperson.” This is the most common type of license. Salesperson license holders must work for a Real Estate Broker. They are limited in scope to doing whatever their employing broker allows them to do. Salesperson licensees generally must complete a 72 hour education course or have 10 hours of real estate courses at an institution of higher education. Salesperson licensees must complete six 3-hour continuing education classes every other year. Salespersons may not practice real estate under any circumstances unless employed by a supervising Broker. The advanced real estate license is the “Real Estate Broker.” Brokers may conduct business without an employer. They are not limited in scope and may conduct whatever transactions they please within the confines of the law. In addition to meeting the requirements of a Salesperson license, Brokers must generally complete an additional 36 hour education course or have 20 hours of real estate courses at an institution of higher education. Brokers must also complete six 3-hour continuing education classes every other year. Brokers have the right to hire Salesperson licensees to work underneath them. Michael Kwiatkowski holds a Wisconsin Real Estate Broker license. While he could have stopped at a Salesperson licensee, Mike wanted to go further and do more in his real estate career. Salesperson license holders are limited in the scope of their duties and do not always understand the subtle nuances of Wisconsin real estate practice. Even though many Salesperson licensees perform well enough in their own right, well enough has never been good enough for Mike. Though holding a Broker license gives Mr. Kwiatkowski the right to practice under his own name, he partners with Coldwell Banker HomeSale Realty as a Broker Associate. Mike does this because Coldwell Banker is a world class real estate company. With offices on six continents, Coldwell Banker literally offers the world to its clients. Whether one of Mr. Kwiatkowski’s clients seeks a bungalow across town, investment property across the country, or a condominium across the world, Coldwell Banker is there to make it a reality. Mr. Kwiatkowski also values the flexibility Coldwell Banker offers its Broker Associates to meet the needs of his clients, including variable commission rates and multiple potential marketing plans. He is proud to call himself a Broker Associate for Coldwell Banker HomeSale Realty. |