Real Estate Broker

Definition

• A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it and collect commissions for the work. Most brokers have agents working for them and collect a portion of their commissions in exchange for providing office space, marketing and other overhead.

Synonyms
real estate agent, realtor

Alternate Spellings
Realtor

Related Terms and Acronyms

• Broker (Bkr) — Abbreviation,
  • A person or firm who acts on behalf of another.
• Buyer Broker — Definition,
  • One who earns a commission from the buyer of a property in exchange for finding a seller and assisting in negotiation.
• Commission (comm) — Abbreviation,
  • A fee paid to a salesperson for selling a product to a customer.
  • An agent's fee for negotiating a real estate or mortgage loan transaction, often expressed as a percentage of the selling price.
• Cooperating Broker — Definition,
  • A real-estate broker who finds a buyer for a property and initiates a negotiation and shares in a commission.
• 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.
• Mortgage Broker (MB) — Acronym, Important,
  • One who finds clients perspective lenders at generally no cost. Mortgage Brokers have a special relationship with lenders and can offer their clients the best rates and service. CanEquity goes through great lengths to ensure you are serviced by the best Mortgage Brokers in Canada.
• Open Listing — Definition,
  • A property that a number of brokers can market and sell for a commission.
• 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.
• 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.