Real estate brokers are real estate professionals who have been trained to act as a mediator between real estate buyers and sellers. This distinguishes the real estate broker from the similar profession of real estate agent, which is primarily concerned with property sales. Real estate brokers will take the proactive approach of seeking out buyers who are looking for the type of property that a seller wants to sell, and will work to ensure that both parties reach an agreement that is fair to both parties.
Although some freelance brokers choose to focus on high-profile projects outside of their local geographic area, real estate brokers are frequently associated with a local realtor. Real estate brokers are typically thought of as the brokers’ salespeople, and they will collaborate closely with the broker to help build rapport between buyers and sellers who appear to be a good match. The agent, on the other hand, is more concerned with the sale’s successful completion, whereas the broker is more proactive in convincing sellers to join the agency and allow it to represent their best interests. As a result, real estate brokers are frequently compensated through the application of agency fees related to the services rendered, rather than receiving a commission for their efforts.
The ability to work as a real estate broker is regulated in many countries around the world. Often, some form of formal education is required, as well as certification from a recognized and accredited real estate entity. In order to receive proper remuneration for services rendered, most jurisdictions have at least a few specific legal stipulations that must be followed by the broker.
It is important to note, however, that not everyone involved in the task of matching a buyer and a seller is a real estate broker. An attorney may be able to serve in this capacity and still be paid for his or her services related to the sale, depending on the circumstances. Furthermore, buyers and sellers who choose to conduct a transaction without the assistance of a real estate agency are not required to be licensed real estate brokers.