outline10 - Chapter 10 Real Estate Brokerage Lecture...

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Chapter 10 Real Estate Brokerage Lecture Outline The Real Estate Sales Process listing agreement marketing the property and qualifying buyers presentation and negotiations contracts settlement or closing Real Estate Brokers and Sales Associates A broker is an intermediary who brings together buyers and sellers, assists in negotiating agreements between them, executes their orders, and receives a commission (or brokerage) in compensation for services rendered. Real estate brokers are individuals licensed by state governments to arrange real estate sale or lease transactions for a commission Real estate sales associates are individuals licensed by state governments to arrange real estate sale or lease transactions under the supervision of a real estate broker All states require real estate brokers and sales associates to meet minimum educational requirements and to pass an examination that covers basic real estate concepts. Many states also require that licensees complete regular continuing education courses to keep abreast of current developments in the field. Licenses may be revoked and other penalties imposed on licensees who violate the regulations imposed on them by the licensing authority. Legal Aspects of the Broker-Client Relationship
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outline10 - Chapter 10 Real Estate Brokerage Lecture...

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