What is typically the first thing a broker must do?

The first thing a broker must do is define their role. This foundational step is critical because it sets the stage for all subsequent actions and responsibilities a broker will undertake. Defining the role involves understanding the specific duties, ethical obligations, and the legal framework within which they will operate. By clearly establishing their role, a broker can effectively navigate the complexities of the real estate market, including managing client relationships, negotiating contracts, and ensuring compliance with regulations.

By understanding their role, brokers can also cultivate a professional identity, which is essential for building trust with clients and other professionals in the industry. This clarity allows them to determine the best approach to serving clients, whether it involves residential sales, commercial transactions, or property management. Ultimately, defining their role helps brokers create a strong foundation that guides their strategies and operations throughout their career.