Real Estate Broker Law and Legal Definition

Real Estate Broker means any person, co-partnership or other entity who sells or offers for sale, buys or offers to buy, or negotiates the purchase, sale, or exchange of real estate. These activities would be done for a compensation or valuable consideration. A real estate broker also leases/rents any real estate or the improvements thereon to others. Such a broker must secure a state license to engage in these activities legally. It is usually required that all active partners and officers be licensed real estate brokers in order for a license to be issued to a firm.