GossipSloth

Real Estate Brokers

1

A real estate broker, real estate agent or realtor is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy.

Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this an item of real property, buildings or housing in general.

An estate agent is a person or business that arranges the selling, renting or management of properties, and other buildings, in the United Kingdom and Ireland or other countries around the world.

In English common law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and whose improvements come from human efforts.

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2

In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

The United States of America, commonly referred to as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, and various possessions.

A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties.

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3

A real estate broker typically receives a payment called a commission for successfully matching a seller's real estate with a buyer such that a sale can be made.

4

This commission can be divided up with other participating real estate brokers or agents when applicable.

5

An estate agent being used as a term in the United Kingdom means a person or organization whose business is to market real estate on behalf of clients, but there are significant differences between the actions and liabilities of brokers and estate agents in each country.

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign state in Europe.

6

Beyond the United States, other countries take markedly different approaches to the marketing and selling of real property.

7

In the United States, however, real estate brokers and their salespersons assist sellers in marketing their property and selling it for the highest possible price under the best terms.

8

Crucially, in the U.S. each state has their own laws defining the types of relationships that can exist between clients and real estate professionals and those relationships, such as brokerage and agency, can vary markedly.

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