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The broker works for the principal who has signed an agency agreement with the broker's company. If the brokerage agency, ex. Coldwell Banker John Smith, has a listing agreement with the Jones family to sell their home through their salesman, John Doe the brokerage and the agent John Doe represent the Jones family as their principal.
The gray area would be if John Doe gets a phone call from a buyer who wants to be represented by an agent to look at homes and he decides to buy the Jones' listing. Now the brokerage and John Doe represent 2 opposing interests in a transaction, which is called dual agency.
Most agencies and real estate agents disclose this issue up front and offer a designated agency option, but it is confusing for many people not in the business or who are not attorneys.
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∙ 11y ago
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What is a principal real estate agent?
A person with a state/provincial license to represent a buyer or a seller in a real estate transaction in exchange for commission. Most agents work for a real estate broker or realtor.
Can A Texas Real Estate Broker take a Net Listing?
Yes, texas real estate broker can take a net listing.
Who is the principal for whom a real estate broker works?
A real estate broker has only one fiduciary duty and that is to his or her client, also known as the principal. Real estate agents act as the broker's representatives -- always. In every part of a real estate transaction, he or she is the broker's agent. Therefore, despite the fact that the agent may have procured the client, he or she did so as the broker's representative. Therefore, the only principal for whom a broker works is the client -- the home buyer or seller.
What real estate broker sells the most real estate in the US?
Coldwell banker
What does an estate broker do?
An Estate Broker is a person who acts as the middle man between buyers and sellers of real estate. They help with the transaction.
What makes a real estate broker different from a real estate agent?
Real estate broker & Real estate agent are same both of them will do the same job.Answer:Real Estate Brokers required to have more experience and education, than agents. And also a real estate agent may be a person who works under a registered broker.
What is the average real estate commission in Florida?
In Florida, real estate commissions is being negotiated between the principal (seller or buyer) and real estate broker during exclusive listing appointment or when representing a buyer through an exclusive buyer's broker agreement.
Can a principal broker who is supposed to devote his full time to the management of an office also sell real estate from that office?
Yes, a principal broker can participate in all real estate functions. Listing, selling, leasing, management etc. while managing his/her office and agents.
What is a principal real estate agent?
A person with a state/provincial license to represent a buyer or a seller in a real estate transaction in exchange for commission. Most agents work for a real estate broker or realtor.
Can a real estate broker waive his commission to another person?
A real estate broker can waive a commission at will.
How is a real estate broker different from a real estate agent in California?
A real estate "agent" is licensed to practice real estate, but only under the direct supervision of a broker. Without a broker to oversee their activities and take responsibility for their actions a real estate agent is not allowed to practice. There is a trick of language here though, and it has to do with Agency Law. By law, an agent is a person who acts on behalf of someone else. A real estate broker is also called a real estate agent. This is because they are acting as an agent for the buyer or seller in a transaction. So the broker has the legal title of "broker" generally and the title of agent in relation to his or her client. A real estate agent working under a broker is an agent only to the broker, the broker is agent to the client.
Real estate broker?
Real estate broker Find a Real estate broker in USA, Michellecooper Exprealty is a First-time homebuyer realtor with the best Real estate agent reviews in USA. Contact Now /michellecooper.exprealty
Can A Texas Real Estate Broker take a Net Listing?
Yes, texas real estate broker can take a net listing.
Who is the principal for whom a real estate broker works?
A real estate broker has only one fiduciary duty and that is to his or her client, also known as the principal. Real estate agents act as the broker's representatives -- always. In every part of a real estate transaction, he or she is the broker's agent. Therefore, despite the fact that the agent may have procured the client, he or she did so as the broker's representative. Therefore, the only principal for whom a broker works is the client -- the home buyer or seller.
Would you capitalize 'real estate broker'?
No, the term "real estate broker" is not typically capitalized unless it is at the beginning of a sentence or part of a title.
What real estate broker sells the most real estate in the US?
Coldwell banker
What does an estate broker do?
An Estate Broker is a person who acts as the middle man between buyers and sellers of real estate. They help with the transaction.
