What is the first thing a broker should do?

Defining their role is crucial for a broker as it lays the foundation for their business practices and interactions with clients. Understanding their responsibilities, whether they are acting as a listing agent, buyer's agent, or in a different capacity, helps the broker establish clear expectations for both themselves and their clients. This self-awareness allows for more effective communication and the development of a tailored strategy to meet client needs.

Once their role is defined, the broker can then proceed with the other tasks such as conducting market research, setting pricing strategies, and building a client database, all while aligning these activities with their defined role in the market. A strong initial understanding of their responsibilities positively influences the overall success and integrity of their business practices.