← Glossary
Agents and brokerages
Real estate license
The state license you need to be paid for helping people buy or sell property. You take pre-licensing classes, pass a state exam and work under a broker.
Also called: license, salesperson license, pre-licensing
Related terms
Real estate agent
A licensed person who helps people buy, sell or rent property. Agents work under a broker and are paid by commission, not salary.
Broker
A license level above agent. A broker can run a brokerage and supervise agents. Agents must work under a broker.
Hang your license
Placing your license with a brokerage so you can work under it. Moving to a new brokerage means transferring it, usually online with your state.
Continuing education (CE)
Classes agents must take to renew their license. Hours and topics are set by each state.