Agency Contracts
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| show | A principal-agent relationship in which the broker is the agent for the buyer, with fiduciary responsibilities to the buyer. The broker represents the buyer under the law of agency.
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| show | A comparison of the prices of recently sold homes that are similar to a listing seller's home in terms of location, style, and amenities; an estimate of market value.
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| show | Formal employment between employer & employee, principal & agent. In real estate, listing agreement, buyer agency agreement or management agreement.
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| exclusive-agency listing | show 🗑
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| exclusive-right-to-sell listing | show 🗑
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| extender clause or Override Clause | show 🗑
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| show | An employment contract between a property owner and a real estate firm/broker by which the broker is employed to find a ready, willing and able buyer for the owner's real estate on the owner's terms, for which service the owner agrees to pay a commission.
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| MLS | show 🗑
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| show | A listing based on the net price the seller will receive if the property is sold; broker can offer property at highest price to increase the commission.
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| show | A listing agreement under which the broker's commission is contingent on the broker personally producing a ready, willing, and able buyer before the property is sold by the seller or another broker.
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| show | Used to guarantee a broker a commission if that particular property is sold to a specific buyer. Same as Protection Agreement.
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| procuring cause | show 🗑
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| protection agreement | show 🗑
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| puffing | show 🗑
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| ready, willing, and able buyer | show 🗑
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| retainer fee | show 🗑
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| show | Due and payable by the buyer/principal on the signing and acceptance of an offer to purchase property found by the buyer's agent.
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Created by:
whitwill
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