In real estate, what is the role of a broker?

The role of a broker in real estate primarily involves representing one of the parties in a transaction, typically for compensation. Brokers are licensed professionals who facilitate the buying, selling, and leasing of properties. They have the training and resources to assist clients with negotiations, market evaluations, and the overall transaction process. By representing either the buyer or the seller, brokers help ensure that their client’s interests are well protected and that they receive maximum value from their real estate dealings.

While legal advice may seem relevant, brokers are not qualified to provide legal counsel unless they also hold a legal license. Additionally, while managing properties is an important aspect of real estate, it is a specific function typically associated with property management rather than the broader broker role. Similarly, inspecting properties for safety compliance falls under the purview of inspectors and does not define a broker's responsibilities. Therefore, the most accurate representation of a broker's role, as indicated by the correct answer, is their function of representing parties in transactions for compensation.