Who acts as an intermediary on behalf of others in a real estate transaction for a fee or commission?

In a real estate transaction, a broker serves as an intermediary between parties, facilitating processes and negotiations for a fee or commission. This role is fundamental because brokers have the required licenses and training to handle real estate transactions and guide clients through the complexities involved, ensuring compliance with laws and regulations.

The broker is responsible for overseeing real estate agents, ensuring they operate within legal guidelines, and providing necessary support and resources. This role not only involves direct transactions but also managing relationships between sellers, buyers, and sometimes other real estate professionals.

While an agent can also act on behalf of others, they typically work under the umbrella of a broker and do not independently operate in the same capacity. A managing broker has additional responsibilities, such as overseeing agents and the operations of a brokerage. Lastly, a Realtor, while a recognized professional in real estate, is a member of the National Association of Realtors and may serve as an agent or broker, but does not inherently fulfill the intermediary function across all transactions unless they are acting in the capacity of a broker. Thus, the most accurate choice for who acts specifically as an intermediary for a fee is the broker.