Legal Definitions - Real estate broker

A real estate broker is a licensed professional who helps people buy, sell, and rent properties like houses, buildings, and offices. They have a higher-level license than real estate agents, which allows them to work independently or run their own brokerage firms.

To become a broker, a person must have worked as a real estate agent for a certain number of years and completed additional training and a written exam. Once licensed, brokers earn commissions on real estate transactions, often at a higher rate than agents.

Brokers handle the technical aspects of real estate transactions, such as preparing contracts and establishing escrow accounts. They also oversee agents who work for them.

For example, if someone wants to sell their house, they might hire a real estate broker to help them find a buyer. The broker would handle the paperwork and negotiations, and earn a commission when the sale is complete.