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under the law of agency, a real estate broker is given the right to act on behalf of another individual or entity who is trying to buy or sell a property. the individual or entity that grants authority to the broker to act on their behalf is more commonly referred to as the

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The principal is a more common name for the broker who acts on their behalf.

What is broker?
In order to earn a commission whenever the deal is completed, brokers organise transactions between buyers and sellers. Brokers who take on dual roles as buyers or sellers are considered principal parties to the transaction. Neither function should be confused to that of an agent, who represents the principal party inside a transaction. An impartial party whose services are widely used in some industries is a broker. The main duty of a broker is to connect buyers and sellers; as a result, the broker acts as a neutral intermediary between a seller and a buyer. A real estate as well as stock broker who helps with the sale of a property would be an example.

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