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Duration: The exclusive right to sell clause in the contract you establish with your real estate agent should have an expiration date, which might be anywhere from 30 days to six months or more ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
The Texas Real Estate Commission (TREC) is the state agency that governs real estate practices in the state of Texas. The agency is headquartered at 1700 North Congress in Austin. [1] TREC is composed of nine members appointed by the Governor with the concurrence of the Texas Senate. The members are appointed for six-year terms, with the terms ...
An exclusive buyer agent is a real estate agent who works for a company that does not ever represent sellers in real estate transactions. Exclusive buyer agents (and their clients) avoid the conflict of interest of working with an agent who promotes their listings or their firm's listings.
Ken H. Johnson, a real estate economist at Florida Atlantic University and a former real estate broker, says the new rules just add another layer of complexity to an already-confusing process.
His 1987 book "Agency Relationships in Real Estate" was the culmination of several years working with the National Association of Realtors (NAR) and NARELLO the license law arm of the association. In November 1985 California entrepreneur Ridgely Evers' America's First Home Store opened in Chandler, Arizona, as the first Exclusive Buyer ...
In the real estate industry in the United States, a pocket listing or hip pocket listing is a property where a broker sells a property through private connections rather than entering it into a multiple listing system (MLS) or otherwise publicly advertising it. [1] In Canada, this is called an Exclusive Listing. [2]