What is "real estate broker"

Broker \Bro"ker\ (br[=o]"k[~e]r), n. [OE. brocour, from a word akin to broken, bruken, to use, enjoy, possess, digest, fr. AS. br[=u]can to use, enjoy; cf. Fries. broker, F. brocanteur. See Brook, v. t.]

1. One who transacts business for another; an agent.

2. (Law) An agent employed to effect bargains and contracts, as a middleman or negotiator, between other persons, for a compensation commonly called brokerage. He takes no possession, as broker, of the subject matter of the negotiation. He generally contracts in the names of those who employ him, and not in his own.
   --Story.

3. A dealer in money, notes, bills of exchange, etc.

4. A dealer in secondhand goods. [Eng.]

5. A pimp or procurer. [Obs.]
   --Shak.

   Bill broker, one who buys and sells notes and bills of exchange.

   Curbstone broker or Street broker, an operator in stocks (not a member of the Stock Exchange) who executes orders by running from office to office, or by transactions on the street. [U.S.]

   Exchange broker, one who buys and sells uncurrent money, and deals in exchanges relating to money.

   Insurance broker, one who is agent in procuring insurance on vessels, or against fire.

   Pawn broker. See Pawnbroker.

   Real estate broker, one who buys and sells lands, and negotiates loans, etc., upon mortgage.

   Ship broker, one who acts as agent in buying and selling ships, procuring freight, etc.

   Stock broker. See Stockbroker.

n. a person who is authorized to act as an agent for the sale of land; "in England they call a realtor a land agent" [syn: realtor, real estate agent, estate agent, land agent, house agent]

A real estate broker, real estate agent or realtor is a person who acts as an intermediary between sellers and buyers of real estate/ real property and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients. A real estate broker typically receives a payment called a commission for successfully matching a seller's real estate with a buyer such that a sale can be made. This commission can be divided up with other participating real estate brokers or agents when applicable.

An estate agent being used as a term in the United Kingdom means a person or organization whose business is to market real estate on behalf of clients, but there are significant differences between the actions and liabilities of brokers and estate agents in each country. Beyond the United States, other countries take markedly different approaches to the marketing and selling of real property.

In the United States, however, real estate brokers and their salespersons (commonly called "real estate agents" or, in some states, "brokers") assist sellers in marketing their property and selling it for the highest possible price under the best terms. Crucially, in the U.S. each state has their own laws defining the types of relationships that can exist between clients and real estate professionals and those relationships, such as brokerage and agency, can vary markedly.