The Brokers Council of Idaho is a coalition of Independent
Brokers in the Treasure Valley area who cooperate together forming a network of
Realtors® and Brokers to better serve the people of Southwest Idaho. Independent
Brokers sell approximately 45% of the Real Estate in the Boise area.
Brokers Council members meet as a group weekly to present listings to each
other, and to tour members homes and properties. We also have speakers
present programs on financing, home inspections, advertising, staging, and other
areas of interest to home buyers and sellers. Brokers Council members
actively network to help fellow members market their clients properties and find
properties for buyers Clients. As an active member of the Brokers Council
of Idaho, I want to express my appreciation to my fellow members for all the
help and support.
With scores of Real Estate Companies we at Jon Gosche Real
Estate believe that it is in your best interest to understand some of the
information below to help you make an informed choice when you select your real
estate professional.
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Realtor®: Not all agents and Brokers are
Realtors®! Realtors® are agents and Brokers who are members of the
National Association of Realtors®. NAR members subscribe to the strict
ethical code of the NAR. They are also members of the MLS
(multiple listing system) and are the only people who have access to the
complete MLS data base.
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Broker: A broker is a real estate professional
who has worked as a licensed real estate agent for at least two years under
a broker, and has taken additional classroom training, and has passed state
board exams given by the Real Estate Commission and is licensed as a Real
Estate Broker.
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Designated Broker: Each Real Estate office by
Idaho Law must have one and only one designated broker. All other Real
Estate agents and Brokers in the office work under the license of the
Designated Broker. It is the responsibility of the Designated Broker
to oversee all agents and Brokers of the company. It is the Designated
Broker who has the contract with clients.
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Franchise Real Estate Company: Many Real Estate
Companies (agencies) have brand names attached to their company name.
These companies obtain a franchise, usually through the purchase of a
franchise. They acquire the rights to use the logos, and agree to
conform to the rules of the franchise. Although the company may be a
privately owned company, they are affiliated with other companies of the
same franchise through advertising, office policies, office models, and
other things. Many franchises have relocation programs where agencies
from other parts of the country refer customers and clients to local
companies or agents. Some people may think that they are just one
large national company. Usually this is not the case. Usually
they are privately owned offices with a franchise. Franchise Realtors®
network with all Realtors®, not just others of the same brand name.
(See Realtors® above for more information).
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Independent Brokerage: This is an unbranded
company. It is a company that may be owned by one or more owners just
like a franchise. As an independent company, the company pays no
franchise fee and is not bound to conduct business according to the rules of
a franchise agreement. Independent Brokerages for residential property
are almost always Realtors® and network with franchise and unfranchised
Realtors®. They are held to the same high standards as any
Realtor®. However we are not encumbered by franchise rules,
fees. I believe that this gives us the freedom to operate to serve the
best interest of our clients and customers.
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Real Estate agent: A person licensed by the
state to work under a broker aiding clients and customers with the purchase
and sales of Real Estate. Real Estate agents in Idaho MUST work under
a Broker. They are the agent of a Broker. Their Broker is
responsible to oversee their work. Customers and Clients are actually
customers and clients of the designated Broker of a particular office.
The Real Estate agent is generally a subcontractor of the agent acting as an
agent of the Broker and a sub agent of the client or customer.
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Exclusive Buyer's Broker/Agent: A Real Estate
agent or Broker who is exclusively representing the buyer in a
transaction. He or she is not in representing the seller. Your exclusive
buyer's agent can and should find out and reveal information to you about
the seller and the property that you are buying that the seller's agent can
not reveal to you, like last sale price, liens due and other things that
will help you as the buyer have an advantage by knowing. This Broker
and Agent not only hold the buyer's information confidentially, but act solely
in the best interest of the buyer.
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Exclusive Seller's Broker/Agent: A Real Estate
agent or Broker who is representing only the buyer in a transaction.
That Broker and Agent not only hold the seller's information confidentially,
but act solely in the best interest of the seller.
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Dual Agent: This is a Broker or agent that has
an agency agreement with both the buyer and the seller. The dual agent
is to hold both buy's and seller's information confidentially and is not to
act in any way to give an edge to either. The dual agent takes the
role of a mediator and facilitator and works for both buyer and seller to
facilitate a transaction. Click
here to see the Idaho Agency Brochure.
Jon Gosche Real Estate
Make sure that your agent is a member!