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The difference between a real estate agent and a real estate broker pretty much boils down to experience. A real estate agent must be at least 18 years old, have a high school diploma, have completed an accredited real estate exam licensing course, have passed a real estate licensing exam, be sponsored by a licensed real estate broker, and provide proof of errors and omissions insurance. In addition to these requirements, a broker must complete additional course work, have been an actively licensed real estate agent for at least two years, and pass the broker licensing exam. You can check whether a particular agent or broker is licensed in good standing by checking with your state's real estate licensing board.