Because real estate brokers can function in various roles and capacities within real estate companies, the Commission has adopted certain terms to describe their functions for licensing and recordkeeping purposes. These terms are listed and defined below:
Real Estate Broker-A person, partnership, association or corporation who for compensation offers or undertakes the listing, sale, purchase, auction, leasing or renting of real estate for others.
Principal Broker-A licensed real estate broker who is an executive officer of a real estate brokerage corporation and who serves as the corporation's primary contact person with the Real Estate Commission regarding licensing matters. A Principal Broker may also serve as Broker-In-Charge of one of the corporation's offices.
Broker-In-Charge-A licensed real estate broker who supervises various activities at a real estate office (e.g., advertising, maintenance of trust account and transaction records, etc.). The Broker-In-Charge also acts as Supervising Broker for all licensed salesmen who work at the office and is the Commission's primary contact person at such office for licensing matters.
Supervising Broker-A licensed real estate broker responsible for personally, actively supervising the real estate acts of a licensed real estate salesman. The Broker-In-Charge of a real estate office is required to be the Supervising Broker for all licensed salesmen who work at such office.