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| AgentA person authorized to act on another’s behalf. In real estate, this agent may be a listing agent representing the seller, a selling agent representing the buyer, or a dual agent which means the agent or company may represent both the seller and the buyer. There is a fourth option, a transaction agent (or broker) that represents neither party but helps the transaction to be completed. A real estate agent must be licensed under the laws of their state. An agent must place their license under the direction of a real estate broker. To become a broker, one must take the same courses that a salesperson does, but also complete addition training and meet experience requirements which differ from state to state. See also:AcceptanceAd Valorem TaxAdjustable Rate MortgageAgentAmortizationAmortization ScheduleAnnual Percentage RateAppraisalAppraised ValueAppreciationAPRARMAs Is ConditionAsking or Listing PriceAssessed ValueAssigneeAssumable MortgageAssumption of mortgage |
