managing broker | Real Estate Dictionary

The licensee responsible for a brokerage, and who is responsible for exercising the rights conferred on the brokerage as well as for the performance of the duties imposed on the brokerage by its licence. In addition, the managing broker is responsible for the control and conduct of the brokerage's real estate business, including the supervision of its related licensees. Sometimes also meaning the human representative of a corporate real estate brokerage. See the Real Estate Services Act, sections 5 and 6.