<p>Can real estate agents work for themselves or do they have to work under brokers and get paid by commission? If the latter is true, then why? Is it because the brokers can handle some legal documents that the real estates can't?</p>
<p>under brokers...atleast in Cali that is</p>
<p>You can become a broker and then work for yourself.</p>
<p>In most states, a real estate agent must work for a real estate broker. To be a broker, one must have significant experience as an agent and have passed a test for brokers. The broker test is usually more complex than the agent's license test. When an agent sells property, that commission is split between the broker and the agent depending on the employment agreement between the broker and agent. There are some brokers (such as Re/MAX) which permit agents to keep 100 percent of the commission but charge the agent a monthly fee. Being a real estate agent can be a miserable life. You usually have to work evenings and weekends when people like to look at property. Some months you make a lot of money, others you are broke. To be a successful real estate agent, you need to be extroverted (because clients don't come to you; you find them) and consider it very important that other people like you.</p>
<p>since we're on this subject, I jsut wanna ask what is the signifcance of gettin an undergraduate degree in Rel Esate at a prestigous school such as Wharton?</p>