Agency

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • company
  • representatives
  • firm

Acronyms

  • agcy

Definition of Agency

  1. An agency generally exists because of a relationship between two parties where one party acts on behalf of the other. For example, an agent will represent a client and conduct transactions with a third party on that client's behalf.

Related Terms and Acronyms

  • Cooperating Broker Definition,
    • A real-estate broker who finds a buyer for a property and initiates a negotiation and shares in a commission.
  • Subagent Definition,
    • A real estate agent who finds a buyer for a property, and is not the property's listing agent. The subagent usually earns a portion of the commission.
  • Buyer Broker Definition,
    • One who earns a commission from the buyer of a property in exchange for finding a seller and assisting in negotiation.
  • Real Estate Agent Definition,
    • A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it.
  • Seller Broker Definition,
    • One who earns a commission from the seller of a property in exchange for finding a buyer and assisting in negotiation.
  • Dual Agency Definition,
    • When a real-estate agent or broker represents both parties in a transaction.
  • Agent (agt) Bank,
    • A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
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