What is a responsibility of a managing broker of a brokerage firm?

The primary responsibility of a managing broker is to ensure effective oversight and compliance within a brokerage firm. This includes aspects like training, supervision, and adherence to licensing laws. Among the choices provided, ensuring that all salespeople are trained and competent to practice real estate, supervising salespeople, and ensuring compliance with state license laws all pertain to the managing broker's key responsibilities.

However, attending every closing with each salesperson is not a typical mandate for a managing broker. Managing brokers are expected to provide leadership and ensure that salespeople are properly trained and compliant, but they do not need to be present for every transaction. This would be impractical and would detract from their ability to manage the overall operations and support their team effectively. Ultimately, the correct focus of a managing broker's role lies more in oversight of competency, supervision, and compliance rather than personally attending every closing event.