difference between a realtor and a broker

[Theone2432]

What is the name of your state?What is the name of your state? CA

- Could someone please tell me what the difference is between a realtor and a real estate broker?
- Why would you hire one as opposed to the other?
- Is it legal to tell a buyer that they have been out bid on a real estate offer?

Thanks!

 

[Some Random Guy]

Brokers are a level above Realtors. Generally, all realtors will work under a Broker who manages the office or runs the company. Most Brokers will also sell properties. Pick the person who you think will sell your property the quickest or for the most $.

If you or the bidder are represented by Realtors, you should not be communicating directly with each other. Leave the bidding process to the professionals. If you sign a contract with the Realtor, you may violate the terms of that contract by directly contacting the seller.

 

[Theone2432]

Thanks, that was very helpful Random Guy.

One last question--for clarification. I understand that my question may not have been clear on this point.

- I guess that I wanted to know if it was legal for a broker/realtor to tell a potential buyer that they have been out bid?

 

[Some Random Guy]

Absolutely.

You are not running a silent auction here. This is a negotiation for your property. So long as you have not accepted as offer, you can still ask buyers to improve their original offers. You can receive multiple bids from buyers and choose to accept one or make a counter offer or just tell the buyers that their offers are not good enough. You are not obligated to accept the highest offer (and may not want to if it has too many contingencies or hasles).

Your Realtor should be able to talk you through the process.

 

[Theone2432]

Thanks again! As a famous cyborg once said "I'll be baac", probably.