Business, Legal & Accounting Glossary
A middleman or agent who purchase and puts up for sale real estate for a company, firm or individual in order to receive a commission.
A real estate broker is a real estate agent that has accumulated sufficient experience to obtain a license to operate a real estate brokerage and to supervise to work of other real estate agents. Like the real estate salesperson, the real estate broker is licensed at the state level. Most real estate agents do not become a real estate broker. The real estate broker may primarily act as a real estate agent, or may focus on the management of the real estate brokerage. The real estate broker usually has expertise in a single area, such as residential, commercial, or industrial property. For the individual needing to complete an important transaction, that expertise is probably more important than the licensing distinction between real estate broker and salesperson. The professional real estate broker is very often a realtor.
A good real estate broker helps clients find just the right property.
The real estate broker called her client on Sunday to let her know that the seller had accepted her bid on the house, and that she needed to be at the office first thing Monday morning to sign the papers.
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This glossary post was last updated: 14th February, 2020 | 2 Views.