An individual or firm licensed to arrange real estate transactions, matching property buyers and sellers or tenants and landlords, while earning a commission for services rendered.
The term brokerage encompasses both the business operations of brokers and the commissions they earn through these services. Brokers act as intermediaries, facilitating transactions and charging fees for their expertise.
In the context of real estate, a client is an individual or entity that engages a broker, lawyer, accountant, appraiser, or other professional to represent their interests in a transaction.
Earnest money is a deposit made by a purchaser of real estate to evidence good faith.
Override refers to a fee paid to someone higher in the organization, or a percentage paid from earnings for additional expertise or management oversight.
A real estate agent is a licensed professional who assists in buying, selling, or managing properties. They work under the authority of a licensed broker and are pivotal in navigating real estate transactions.
The act of suggesting the use of a certain broker, which can be both a business strategy and a relationship-building exercise in the real estate industry.
