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	Real Estate Real estate licensees and realtors   Agents and Brokers Real Estate Broker Real estate licensees and realtors Listing Contract and Commission Services provided to customers What is a Lockbox? The National Association of Realtors Developers   Economics: The Economic aspect Real Estate Economics Real estate pricing   Management: Property management Relocation services   Supply/Demand Supply of housing Demand for housing In the United States, individual states categorize individuals/ persons into two levels of professionals in the area of real estate. Then, they are issued licenses by the individual states, and certainly not by the Federal Government: 1. After getting the necessary license -- real estate sales person's license -- from the individual state, in which the real estate agent has interest, the agent gets the approval from the state to do the business. To get the license from the state, each individual has to undergo a coursework designed by the state and then clear exam on real estate sales. Then, the agent has to practice by working with (and act under the authority of) a real estate broker as mandated by the law. In fact, some of the states have reciprocal agreements by which the agents are exempted from undergoing the course. However, they need to take the exam of another state for being qualified.   2. By gaining necessary expertise in the area, the agent may become a real estate broker by under going more course work and clearing the stipulated exam by the state. After getting the license, the agent may continue his/her association with the previous broker as broker associate or become a branch manager of a real estate office or do business on his/her own. In fact, a valid license is required to showcase properties for interested parties for sale by the real estate agents. However, principals (sellers or buyers) are exempted from this rule.   Real estate agent or broker is known as Realtor(R), who is associated with the National Association of Realtors(R). Generally, realtors are expected to adhere to the rules and regulations of the association. In fact, the realtors are brokers or salespersons involved actively in real estate arena. In fact, the professionals offer real estate services to interested persons by doing a single transaction and not commission-based brokerage relationship. The brokers offer services like market analysis, FSBO document preparation, property appraisal, MLA marketing, facilitate sale/ purchase, among other things.