Real Estate Agent

Importance: 0.43

Is a company: no

Is a proper noun: no

Synonyms

  • real estate broker
  • property agent
  • realtor

Alternate Spellings

  • Realtor

Definition of Real Estate Agent

  1. An individual who is licensed to represent a buyer or a seller of real estate in a sales transaction. Real estate agents typically work on commission.

Related Terms and Acronyms

  • Agent (agt) Abbreviation,
    • 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.
  • Broker (Bkr) Abbreviation,
    • A person or firm who acts on behalf of another.
  • Agency (agcy) Abbreviation,
    • A relationship between two parties -- a client and an agent -- in which the agent represents the client in transactions with a third party.
  • Motivated Buyer Definition,
    • A prospective buyer who has a strong reason to buy, and quickly.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Real Estate Attorney Definition,
    • A lawyer who specializes in the transfer of land and buildings and property tax issues.
  • Realtor Definition,
    • A real estate broker or an associate holding active membership in a real estate board.
  • Motivated Seller Definition,
    • A home seller who has a strong reason to sell quickly, possibly because of an upcoming relocation or an impending default on a loan.
  • Building and Loan Association Definition,
    • A financial institution designed to help members finance real-estate transactions.
  • Real Estate Broker Definition,
    • An individual who is licensed to represent a buyer or a seller of real estate and collects commissions for the work. Most brokers have agents working for them and they collect a portion of those commissions in exchange for providing office space, marketing, and other overhead.
  • Finder Fee Definition,
    • A fee paid by a party to another for services rendered.
  • Backup Offer Definition,
    • A bid for a property that the owner will consider if the current transaction falls through.
  • Dual Agency Definition,
    • When a real-estate agent or broker represents both parties in a transaction.
  • Seller Broker Definition,
    • One who earns a commission from the seller of a property in exchange for finding a buyer and assisting in negotiation.
  • 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.
  • Caravan Definition,
    • An outing in which a group of real-estate agents look at houses that have been listed for sale recently.
  • For Sale By Owner (FSBO) Acronym, Very Important,
    • An arrangement by which a house's owner tries to sell the house without hiring a real-estate agent. Owners do this to avoid paying a commission.
    Can save the seller money by forgoing realtor fees.
  • Real Estate (RE) Acronym, Very Important,
    • A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
  • Commission (comm) Abbreviation,
    • An agent's fee for negotiating a real estate or mortgage loan transaction, often expressed as a percentage of the selling price.
    • A fee paid to a salesperson for selling a product to a customer.
  • Exclusive Listing Definition,
    • A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.
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