Real Estate Broker

A real estate broker is a licensed professional who has completed additional education and experience requirements beyond those of a real estate salesperson. In New York, brokers must complete 75 hours of approved education, pass a state exam, and have at least two years of experience as a licensed salesperson or equivalent real estate experience.

Brokers can work independently, own their own firms, and hire salespersons to work under them. In NYC real estate transactions, brokers typically represent either the buyer or the seller and earn a commission based on the sale price, usually 5% to 6% split between the buyer's and seller's brokers.

For international buyers, working with a broker experienced in cross-border transactions is particularly valuable. These specialists understand the unique challenges faced by foreign nationals, including financing options for non-residents, tax implications of foreign ownership, visa-related considerations, and the cultural nuances of conducting real estate transactions in the U.S. market. In NYC, many brokers are multilingual and specialize in serving specific international communities.