agency - ANSWERa legal relationship between a principal and an agent
agent - ANSWERthe party authorized to conduct business on the principal's behalf
blockbusting - ANSWERthe illegal practice of encouraging property owners to sell their homes when minorities begin moving into an area
broke...
agency - ANSWERa legal relationship between a principal and an agent
agent - ANSWERthe party authorized to conduct business on the principal's behalf
blockbusting - ANSWERthe illegal practice of encouraging property owners to sell their homes when
minorities begin moving into an area
broker - ANSWERan intermediary who brings together buyers and sellers, assists in negotiating
agreements between them, executes their orders, and receives compensation for services rendered.
buyer representation agreement - ANSWERthe legal agreement between a buyer and a broker hired
to represent the buyer's interest
commission agreement - ANSWERan agreement between a seller and a broker for the payment of a
commission if the broker is successful in locating a buyer for the seller's property.
dual agent - ANSWERan agent who attempts to work in the best interest of two parties on opposing
sides of a transaction. Illegal in many states.
exclusive-brokerage listing - ANSWERan agreement between a property owner and a single broker
authorizing that broker to seek a buyer for the property in exchange for compensation
exclusive-right-to-sell listing - ANSWERa listing agreement that guarantees the broker's right to a
commission if the property is sold by the seller or any licensed real estate broker or salesperson
fair housing laws - ANSWERlaws that protect the rights of certain citizens in housing transactions;
prohibit housing discrimination based on a buyer's (or lessee's) sex, race, color, religion, national
origin, disabilities, or familial status.
fiduciary - ANSWERa person who is obligated to act in the best interest of another
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