The role of a real estate broker is primarily to facilitate transactions between buyers and sellers, acting as an intermediary to bring together those interested in buying and selling real estate. Brokers possess a thorough understanding of the real estate market, including pricing, property value, and the intricacies of real estate contracts. They guide clients through the buying or selling process, negotiating terms and conditions that align with their clients’ interests.
Often, brokers earn a commission based on the sale price of the property, which incentivizes them to ensure that transactions close successfully. Their extensive knowledge and network of contacts in the industry also help them provide valuable insights and advice to clients.
While property management, conducting appraisals, and handling legal paperwork are important aspects of the real estate industry, these activities are typically associated with property managers, appraisers, and real estate attorneys, respectively. Each of those roles has its specific focus and responsibilities, but the broker's primary duty remains the facilitation of real estate transactions between buyers and sellers.