A real estate broker is an individual or entity licensed by a state regulatory agency to represent real estate buyers and sellers. A broker has a fiduciary obligation to put clients' interests above their own, to lend their expertise in guiding clients through a real estate transaction, and to treat all parties of a transaction fairly. Brokers may also sponsor sales agents and are responsible for the actions of their sponsored agents. Brokers must have a minimum level of sales experience and are subject to additional education requirements. Brokers are not allowed to give legal advice or draft contracts unless they also hold a law license.