Broker

A real estate broker is a licensed professional authorized to represent others in real estate transactions for compensation.

• Acts as an agent for clients
• May represent buyers, sellers, landlords, or tenants
• Owes fiduciary duties to the client
• May work independently or employ salespersons
• Earns compensation through commissions or fees

• Broker-Associate
  • Holds a broker license but works under another broker

• Employing (Designated) Broker
  • Supervises salespersons and broker-associates
  • Responsible for trust funds and compliance

• Broker
  • Can operate independently
  • Can hire and supervise others

• Salesperson
  • Must work under a broker
  • Cannot operate independently

• Obedience
• Loyalty
• Disclosure
• Confidentiality
• Accounting
• Reasonable Care and Diligence

• A broker represents people, not property
• Compensation must be disclosed and agreed upon