A real estate broker helps clients buy, sell, or rent properties, including homes, commercial buildings, and land. Brokers have more experience and education than real estate agents and have taken and passed a broker’s license exam. Brokers may also manage real estate agents and are typically responsible for overseeing all real estate transactions within their brokerage.
Being a broker means having more expertise and responsibility in the real estate industry. Brokers can own their own brokerage or work for an existing brokerage. In addition to managing agents and overseeing transactions, brokers are responsible for ensuring that all activities within their brokerage adhere to local, state, and federal laws and regulations. Brokers often earn a higher commission than agents but also have higher expenses, including licensing fees and other costs associated with a brokerage.