A real estate broker license is required to represent a buyer or seller in a real estate transaction, and earn a commission or compensation for the services. This includes listing, selling, purchasing, leasing, lease options and renting of real property. In addition, a license enables the licensee to advertise and market real estate properties and their services.
A broker license is not required to sell or buy your own home. Also, an attorney is not required to hold a real estate license in order to assist with a real estate transaction.