What is the main role of a mortgage broker in real estate transactions?

The primary role of a mortgage broker in real estate transactions is to package financial arrangements. This involves several tasks, including assessing a buyer's financial situation, determining their borrowing capacity, and finding suitable mortgage products from various lenders that meet the buyer's needs. The broker acts as an intermediary between borrowers and lenders, helping clients navigate the complexities of financing a property.

By packaging these financial arrangements, the mortgage broker ensures that clients receive the best possible mortgage terms and rates, which is crucial for making informed buying decisions. They also assist with the application process, paperwork, and communication with lenders, streamlining the experience for buyers.

In contrast, conducting appraisals, engaging in sales negotiation, and property management are not typically within the scope of a mortgage broker's responsibilities. Appraisals are generally handled by licensed appraisers, sales negotiations are the purview of real estate agents, and property management involves overseeing rental properties, which is beyond the financial expertise that a mortgage broker provides.