Define: Real Estate Agent

UK Accounting Glossary

Definition: Real Estate Agent



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Full Definition of Real Estate Agent


A real estate agent is a person licensed at the state level to represent another person in a real estate transaction, such as the purchase, sale, or lease of real property. The real estate agent can be either a real estate salesperson or a real estate broker. The real estate agent often works significantly more than 40 hours per week, and generally on evenings and weekends. In most cases, the real estate salesperson is a business owner or independent contractor. The typical real estate agent is compensated for services on a commission basis. The real estate agent, by establishing an agency relationship with a client, takes on a fiduciary duty to that client. The most common real estate agent speciality is residential property. The professional real estate agent is also usually a realtor.


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Modern Language Association (MLA):
Real Estate Agent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. March 29, 2020 https://payrollheaven.com/define/real-estate-agent/.
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Real Estate Agent. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/real-estate-agent/ (accessed: March 29, 2020).
American Psychological Association (APA):
Real Estate Agent. PayrollHeaven.com. Retrieved March 29, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/real-estate-agent/

Definition Sources


Definitions for Real Estate Agent are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th February 2020.