A broker protection clause, often referred to as an extender clause, allows a real estate agent to earn a commission after the expiration of the listing contract if the agent introduced the buyer during the contract period.
A buyer's broker, also known as a buyer's agent, is a real estate professional hired by a prospective purchaser to locate an acceptable property for purchase and negotiate with the seller in the purchaser’s best interest.
An extender clause is a provision in a listing contract that automatically extends the terms of the contract upon expiration. This element can have significant implications for both the agent and the principal involved in the contract.
An Incentive is an added inducement or reward for successful performance. It is generally offered to better align the interests of an agent or employee with that of the principal or employer in a real estate context.
A Listing refers to the agreement between a real estate agent and a property owner that authorizes the agent to act as the owner's representative in the sale of the property.
A Listing Broker (Agent) is a licensed real estate professional who secures a listing of the property on behalf of the property owner for the purpose of marketing and selling the property. The Listing Broker is responsible for representing the seller in negotiation and facilitating the sale.
A personal assistant in real estate is an unlicensed staff person who works under the supervision of a licensed real estate agent, performing tasks that do not require a license.
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.
A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions. Real estate agents are generally compensated on a commission basis and operate under the supervision of a real estate broker.
A Real Estate License is a certification that allows regulators to ensure that real estate agents and brokers meet minimum requirements for honesty, competency, and securing the legal rights of consumers within real estate transactions.
A Real Estate Salesperson is a licensed professional who assists buyers and sellers in real estate transactions, providing expert advice, market analysis, and negotiation skills to facilitate property sales.
A Residential Broker facilitates the buying, selling, or leasing of residential properties such as houses or condominiums, providing essential services to both buyers and sellers.
A licensed real estate agent employed by a designated or employing broker who conducts daily sales activities and facilitates property transactions.
The Selling Broker (Agent) is a licensed real estate professional who introduces and represents the buyer in a real estate transaction, playing a critical role alongside the Listing Broker (Agent).
Standard of care refers to the level of diligence, caution, and professionalism expected from real estate brokers, agents, and appraisers in their professional activities.
