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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Realtor


Synonyms:real estate agent, real estate broker, realty agent
Filed Under: real-estate
Tags: realty
 

Definition of realtor

realtor
1. A real estate broker or an associate that holds an active membership in a real estate board.

Related Terms and Acronyms:

  • agent (agt)   A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
  • broker (Bkr)   A person or firm who acts on behalf of another.
  • commission (comm)   A fee paid to a salesperson for selling a product to a customer.
  • contract   An agreement between two or more parties that can be enforced by law.
  • exclusive listing   A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.
  • finder fee   A fee paid by a party to another for services rendered.
  • for sale by owner (FSBO)   An arrangement by which a house's owner tries to sell the house without hiring a real-estate agent. Owners do this to avoid paying a commission.
      ➥  Can save the seller money by forgoing realtor fees.
  • real estate (RE)   A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
  • real estate attorney   A lawyer who specializes in the transfer of land and buildings and property tax issues.
  • subagent   A real estate agent who finds a buyer for a property, and is not the property's listing agent. The subagent usually earns a portion of the commission.

More Related Terms and Acronyms

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