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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 many other countries.
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Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
The Association of Real Estate License Law Officials (ARELLO), founded in 1930 in Canada, supports regulatory agencies in the administration and enforcement of real estate license (or registration) laws in their respective jurisdictions. Among its positions, the organization encourages licensure and education recognition between jurisdictions.
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For example, Colorado has the Colorado Open Records Act (CORA); [11] in New Jersey the law is known as the Open Public Records Act (OPRA). [12] There are many degrees of accessibility to public records between states, with some making it fairly easy to request and receive documents, and others with many exemptions and restricted categories of ...
The oldest real estate brokerage firm was established in 1855 in Chicago, Illinois, and was initially known as "L. D. Olmsted & Co." but is now known as "Baird & Warner". [8] In 1908, the National Association of Realtors was founded in Chicago and in 1916, the name was changed to the National Association of Real Estate Boards and this was also ...
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