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Real estate licenses are those authorizations by a local or state administration given to agents and/or brokers to be able to legally represent a seller or buyer in the process of buying or selling real estate in that specific community or state. These licenses are not necessarily required in all the States of the United States Of America (USA), nor in many countries internationally. Through a complicated arrangement, the National Association Of Realtors (NAR) sets the policies for most of the Multiple Listings Services and, in the late 1990s with the growth of the internet, NAR evolved regulations allowing ''Information Data Exchanges'' ''(IDX)'' whereby brokers would allow a portion of their data to be seen on the internet via brokers' or agents' websites. There were attempts to limit access to some or all of that data to certain brokers operating solely on the internet and, in 2005 , this prompted the Department Of Justice to file an Antitrust lawsuit against NAR alleging its MLS rules in regard to these types of limitations on the display of data were the product of a conspiracy to restrain trade by excluding brokers who used the internet to operate differently from traditional "brick and mortar" brokers. For a description of the DOJ action, see {Link without Title} . Action is pending. Today in many states, the real estate agent (acting as an agent of the broker with whom he/she is employed) is required to disclose to prospective buyers and sellers who represents whom. See below for a broker/agent’s relationship to sellers and their relationship to buyers. While some people may refer to any licensed real estate agent as a real estate broker, a licensed real estate agent is a professional who has obtained either a real estate salesperson's license or a real estate broker's license. In the United States, there are commonly two levels of real estate professionals licensed by the individual states, but not by the federal government: Real estate salesperson: When a person first becomes licensed to become a real estate agent, he/she obtains a real estate salesperson's license from the state in which he/she will practice. To obtain a real estate license, the candidate must take specific coursework (of between 40 and 90 hours) and then pass a state exam on real estate law and practice. In order to work, salespersons must then be associated with (and act under the authority of) a real estate broker. Many states also have reciprocal agreements with other states, allowing a licensed individual from a qualified state to take the second state's exam without completing the course requirements, or, in some cases, take only a state law exam. Real estate broker: After gaining some years of experience in real estate sales, a salesperson may decide to become licensed as a real estate broker. Commonly more course work and a broker's state exam on real estate law must be passed. Upon obtaining a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before (often referred to as a broker associate or associate broker) or take charge of his/her own brokerage and hire other salespersons (or broker) licensees. Becoming a branch office manager may or may not require a broker's license. Some states such as New York allow licensed attorneys to become real estate brokers without taking any exam. In states, such as Colorado, there are no "salespeople", as all licensees are Brokers. A REALTOR, pronounced "Re-al-tor" (rē΄əl tōr), is a real estate salesperson or broker who is a member of the National Association of Realtors (NAR). All Realtors are brokers/salespersons, but not all brokers/salespersons are Realtors. SEE ALSO
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