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.
A Controlled Business Arrangement allows real estate brokerage offices to provide related services such as financing, title, and hazard insurance through subsidiary companies without violating the Real Estate Settlement Procedures Act (RESPA).
A Counselor of Real Estate (CRE) is a professional designation granted to individuals who are recognized for their expertise, experience, and high ethical standards in the field of real estate. This designation is awarded by The Counselors of Real Estate organization, an international group of real estate professionals.
A flat fee broker is a licensed real estate broker who charges a predetermined fixed fee for providing brokerage services instead of a conventional commission percentage based on the property's sales price.
A Real Estate Commission is a fee charged by a real estate agent or broker for their services in facilitating a real estate transaction, typically a percentage of the property's sale price.
