selling agent
The real-estate broker’s representative who sells the property, as opposed to the agent who lists the property for sale. Cf. LISTING AGENT. [Cases: Brokers 18. C.J.S. Brokers § 49.]
Search Results for: real-estate agent
real estate agent
An agent who represents a buyer or seller (or both, with proper disclosures) in the sale or lease of real property. • A real-estate agent can be either a broker (whose principal is a buyer or seller) or a salesperson (whose principal is a broker). [Cases: Brokers 6. C.J.S. Brokers §§ 25–26, 31–32.]
listing agent
listing agent. The real-estate broker’s representative who obtains a listing agreement with the owner. Cf. selling agent under AGENT(2). [Cases: Brokers 40. C.J.S. Brokers §§ 117–120, 125, 143.]
exclusive right of sale
exclusive right of sale. The right to sell a principal’s products or to act as the seller’s real-estate agent to the exclusion of all others, including the owner. — Also termed exclusive right to sell. Cf. exclusive agency under AGENCY(1).
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list
list, n. 1. A roll or register, as of names. 2. A docket of cases ready for hearing or trial. See CALENDAR(2); DOCKET. list, vb. 1. To set down or enter (information) in a list. 2. To register (a security) on an exchange so that it may be publicly traded. 3. To place (property) for
realtor
realtor (reel-t[schwa]r). 1. (cap.) Servicemark. A member of the National Association of Realtors. [Cases: Brokers 3. C.J.S. Brokers §§ 14–24.] 2. Loosely, any real-estate agent or broker. [Cases: Brokers 2. C.J.S. Brokers §§ 2–5.]
commission
commission, n. 1. A warrant or authority, from the government or a court, that empowers the person named to execute official acts (the student received his commission to the U.S. Navy after graduation). 2. The authority under which a person transacts business for another (the client gave her attorney express commission to sign the contract).
exclusive agency
The right to represent a principal — esp. either to sell the principal’s products or to act as the seller’s real-estate agent — within a particular market free from competition. • Strictly speaking, an exclusive agency merely excludes all other brokers, but not the owner, from selling the products or property. — Also termed exclusive
closing statement
closing statement. 1. CLOSING ARGUMENT. 2. A written breakdown of the costs involved in a particular real-estate transaction, usu. prepared by a lender or an escrow agent. — Also termed settlement sheet; settlement statement.
national association of realtors
National Association of Realtors. An association of real-estate brokers and agents promoting education, professional standards, and modernization in areas of real estate such as brokerage, appraisal, and property management. — Abbr. NAR. [Cases: Brokers 3. C.J.S. Brokers §§ 14–24.]
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