What is a real estate brokerage?
A real estate brokerage is a person, a group of individuals, or a firm that has taken the necessary education and passed a broker's license exam. This exam consists of about 500 questions and is required by state laws.
There is an important difference between a brokerage and a real estate agent. While all agents must have a real estate license, a broker is technically a level above an agent because of the extra education and license. Brokers can work for themselves or they can hire agents that have yet to complete their broker's license exam to work for them.