A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions, facilitating the process of buying, selling, or renting properties. Agents work under the supervision of a broker and are responsible for tasks such as marketing properties, negotiating contracts, and coordinating inspections and appraisals.
Related Real Estate Terminology
- Broker: A licensed professional who oversees real estate agents and represents buyers or sellers in real estate transactions.
- Realtor®: A real estate agent or broker who is a member of the National Association of Realtors (NAR) and adheres to its Code of Ethics.
- Listing Agent: A real estate agent who represents the property owner in the sale of a property.
- Buyer’s Agent: A real estate agent who represents the buyer in a property transaction.
- Dual Agency: A situation in which a single real estate agent or brokerage represents both the buyer and seller in the same transaction.
- Commission: The fee earned by a real estate agent or broker for their services, typically a percentage of the property’s selling price.
- Multiple Listing Service (MLS): A database used by real estate agents and brokers to share information about properties for sale or rent.
References
- Jacobus, C. J. (2018). Real Estate Principles (14th ed.). Dearborn Real Estate Education.
- National Association of Realtors. (n.d.). The Code of Ethics. Link
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