Definitions for real estate broker
re·al es·tate bro·ker

Princeton's WordNetRate this definition:0.0 / 0 votes

1. real estate broker, real estate agent, estate agent, land agent, house agentnoun

   a person who is authorized to act as an agent for the sale of land

   "in England they call a real estate agent a land agent"

WikipediaRate this definition:0.0 / 0 votes

1. Real estate broker

   A real estate broker or a real estate agent is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually work under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. In North America, some brokers and agents are members of the National Association of Realtors (NAR), the largest trade association for the industry. NAR members are obligated by a code of ethics that go above and beyond state legal requirements to work in the best interest of the client. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency, and many states require written disclosures to be signed by all parties outlining the duties and obligations. Generally, real estate brokers/ agents fall into four categories of representation: Seller's Agents, commonly called "listing brokers" or "listing agents," are contracted by owners to assist with marketing property for sale and/or lease. Buyer's Agents are brokers or salespersons who assist buyers by helping them purchase property. Dual Agents help both the buyer and the seller in the same transaction. To protect their license to practice, a real estate broker owes both parties fair and honest dealing and must request that both parties (seller and buyer) sign a dual agency agreement. Special laws/rules often apply to dual agents, especially in negotiating price. In dual agency situations, a conflict of interest is more likely to occur, typically resulting in the loss of advocacy for both parties .Individual state laws vary and interpret dual agency rather differently, with some no longer allowing it. In some states, Dual Agency can be practiced in situations where the same brokerage (but not agent) represent both the buyer and the seller. If one agent from the brokerage has a home listed and another agent from that brokerage has a buyer-brokerage agreement with a buyer who wishes to buy the listed property, dual agency occurs by allowing each agent to be designated as an "intra-company" agent. Only the broker himself is the Dual Agent. Transaction Brokers provide the buyer and seller with a limited form of representation but without any fiduciary obligations. Having no more than a facilitator relationship, transaction brokers assist buyers, sellers, or both during the transaction without representing the interests of either party who may then be regarded as customers. The assistance provided are the legal documents for an agreement between the buyer and seller on how a particular transfer of property will happen.A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S. this commission can generally range between 5-6% of the property's sale price for a full service broker but this percentage varies by state and even region. This commission can be divided up with other participating real estate brokers or agents. Flat-fee brokers and Fee-for-Service brokers can charge significantly less depending on the type of services offered.

ChatGPTRate this definition:0.0 / 0 votes

1. real estate broker

   A real estate broker is a licensed professional who represents sellers or buyers of real estate or property. Their tasks include marketing properties, providing guidance to buyers and sellers, coordinating transactions, and negotiating contracts on behalf of their clients. They typically earn a commission when a property is sold or rented, and often supervise real estate agents. They must meet specific legal requirements in their jurisdiction, which usually involves advanced coursework and passing a licensing exam.

WikidataRate this definition:0.0 / 0 votes

1. Real estate broker

   A real estate broker or real estate agent is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients. Estate agent is the term used in the United Kingdom to describe a person or organization whose business is to market real estate on behalf of clients, but there are significant differences between the actions and liabilities of brokers and estate agents in each country. Beyond the United States, other countries take markedly different approaches to the marketing and selling of real property. In the United States, real estate brokers and their salespersons assist sellers in marketing their property and selling it for the highest possible price under the best terms. When acting as a buyer's agent with a signed agreement, they assist buyers by helping them purchase property for the lowest possible price under the best terms. The real estate broker "broker" is obligated to provide fiduciary duties to whomever that broker services as client, this agency relationship can become very confusing; if the broker is helping both the buyer and seller, this is called dual agency. Traditionally, the broker represents the seller, and has a fiduciary duty to the seller. If the broker suggests to the buyer that he will help them negotiate the best price, then it is said the broker is practicing undisclosed dual agency, which is unethical and illegal in all states. Under a dual agency transaction it is vital the broker discloses to either/or part whom they represent as client, and whom they represent as customer. A real estate broker owes his client fiduciary duties, those duties include care, confidentiality, loyalty, obedience,accounting & disclosure. A real estate broker owes his customer fair & honest dealing. A real estate broker must request all partiessign a dual agency agreement, to protect their license.

Matched Categories

1. • Agent

How to pronounce real estate broker?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say real estate broker in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of real estate broker in Chaldean Numerology is: 8

2. Pythagorean Numerology

   The numerical value of real estate broker in Pythagorean Numerology is: 4

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=real estate broker
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Real_Estate_Broker
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=real estate broker