A Broker and a real estate agent (salesperson) are both Realtors actually. Here is how our office breaks down.
M is the owner of the business and the Principal Broker aka THE BOSS. She has her salesperson's license AND her Broker's license. She is responsible for all of the people under her which consist of both salespeople (like me!) and other Brokers (like T). T has his Broker's license but is a Broker/Agent, meaning he works under the Principal Broker.
In Indiana you have to hold your salesperson's license for a year before you can take the Broker's test.
The bottom line is this: M or myself or T can give you the same service as a buyer or seller. We can all do the same things to help you buy or sell a home.
I think you need to really feel comfortable with the Realtor you choose. Some people like to deal with the experienced Realtor's like my Broker M, or some like to deal with young and hungry agents like myself.
Whew, long winded on that one!