What defines a broker in real estate?

A broker in real estate is defined as a person who performs real estate activities for compensation. This includes a range of responsibilities such as facilitating the buying, selling, leasing, or managing of properties, and they must typically hold a valid broker’s license issued by the state. The essential aspect here is that brokers engage in these activities with the expectation of receiving payment, reflecting their professional status and the legal obligations that accompany it.

To elaborate, while some may confuse a broker's role with that of simply selling properties or managing them, the definition encompasses a broader scope of services aimed at earning a commission or fee. Engaging in real estate activities without compensation does not align with the professional standards and practices associated with licensed brokers.