Broker is the term that describes a party acting as intermediary between the sellers and buyers of real estate, with the broker exercising the nature of legal trust in relation to the clients. These real estate brokers and their salespersons are called "agents", and assists sellers in marketing their property and selling it for the lowest possible price under such best terms. Other types of services a broker can provide are comparative market analysis, facilitating the purchase and the sale, property appraisals, property management, exchanging or auctioning the property or preparing contracts.

Real estate brokers are required to have a license in order to be paid the commission for the services rendered; however, buyers and sellers who act on their behalf in the sale or purchase of real estate are not required a license. Lawyers are also allowed to handle real estate sales transactions for a fee without being licensed as a broker or as an agent. The licenses held by real estate brokers often require continuing education and recertification after a period of years set individually by each governing state.

The act of mediating between the seller and the buyer is often legally bound by a signed agreement that entitles the agent or the broker to be paid accordingly. A broker may also represent and assist buyers in the acquisition of property and still represent the seller and the sellerТs interest without a signed agreement.

In general, the sellers and buyers are the principals in the sale and the real estate brokers are the agents. The use of a broker is not actually a requirement for the transfer of the property title from one person to another. Agents are not given power of attorney to sign the real estate deed, however once a broker is used, the person handling the closing ensures that all the people involved be paid.