What To Expect From A Real Estate Broker

Your Business Deserves Experienced, Knowledgeable Representation.

As you begin your house hunting keeping straight certain terms for real estate licensees will be helpful. for example:

1. Agent: Is a general term for anyone empowered to act on behalf of another. Many real estate agents that you’ll met have been hired by the seller and have special fiduciary duties with the seller.

2. Broker: Is a legal term for someone licensed by the state to negotiate real estate transactions and to charge for such services.

3. Sales Associate: Is the term for the person who is allowed to assist the broker in providing their services. The broker is legally responsible for all the sales associate activities related to the real estate industry.

4. Realtor: Is a trademarked designation for a broker who belongs to the National Association of Realtors. Realtors subscribe to a code of ethics that goes beyond state license law, and usually they sponsor a local Multiple Listing Service which offers access to properties listed for sale by many different firms.

How Do Brokers Work? The law of agency clearly sets out a brokers duty to their principal. The principal is the one who retains the services of the broker in a real estate transaction.