Real Estate Broker Definition

A real estate professional licensed to negotiate the purchase and sale of real estate for a commission or fee. In most states, a broker is one step up from a real estate agent, having more training and the power to supervise agents. However, in some states, the term "broker" is used for all agents. In Washington State, for example, regular real estate agents are referred to as "designated brokers," and those who can supervise others are called "managing brokers."