What is one main function of a real estate broker?

The primary function of a real estate broker is to act as an intermediary between buyers and sellers in real estate transactions. This involves negotiating contracts, which can encompass price, terms of sale, contingencies, and other critical elements that determine the success of the transaction. The broker's role is to ensure that both parties understand their rights and obligations and to facilitate an agreement that satisfies the needs of everyone involved.

While appraising property values for taxes, managing rental properties, and owning listed properties are all related activities that involve real estate, they are not the main function of a broker. Appraisals are typically performed by licensed appraisers, property management is a specialized field often handled by property managers, and brokers do not have ownership of the properties they list unless they are also the property owners. The negotiation of contracts is central to what brokers do, making it their most significant responsibility in the real estate market.