Which account type must be a signatory for an escrow account according to broker requirements?

In an escrow account, the broker must be a signatory to ensure proper management and accountability of the funds held in that account. The role of the broker includes overseeing financial transactions and safeguarding clients' funds during real estate transactions. By being a signatory, the broker can authorize the release of funds and ensure that they are handled in accordance with the legal and ethical standards governing real estate transactions.

Having the broker as a signatory provides an additional layer of protection for all parties involved, ensuring that funds are only disbursed when certain conditions are met, such as the successful completion of a sale or fulfillment of contractual obligations. This requirement helps maintain trust in the real estate process and upholds the fiduciary duty that brokers have towards their clients.

The other options do not align with the requirements for handling escrow accounts. While buyers and sellers, licensed real estate agents, and bank representatives may have involvement in the transaction, they do not carry the same responsibility and authority as the broker regarding the oversight and management of the escrow funds.