A real estate broker is a licensed real estate agent who has additional education earning a broker license. There are three types of real estate brokers:

  • Associate brokers, who have broker licenses but choose to work under another broker
  • Managing brokers, who manage broker offices along with training and mentoring new agents
  • Principal or designated brokers, who supervise real estate agent transactions to make sure they comply with state and national laws

Real estate brokers get paid either through commissions from their own deals or through a share of the commissions earned by real estate agents who work under them.