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URE-BROKERAGE TYPE

TermDefinition
Buyer Broker Principal broker who works and represents only buyers. Limited agency never happens because they never have listing agreements.
COOPERATING BROKER A broker who assists another broker in the sale of real property. Usually is the selling broker who found the buyer who offers to buy a pice of property that is listed with another broker.
Franchise The private right to operate a business using a designated trade name and operating procedures of a parent company.
Independent Broker A broker who chooses not to affiliate with any real estate franchise.
Multiple Listing Service (MLS) Provides access to data from current available properties and the history of those that have sold. Entities that focus on technologies that bring information and services to agents and brokers.
National Association of Realtors (NAR) The dominant real estate industry trade association in the United States.
Referral Companies Designed to house agents that do not wish to be part of local realtor board. Agents in these brokerages may still operate as any other active real estate agent, but without the benefits of services and information of the board of realtors.
Utah Association of Realtors (UAR) The dominant real estate industry trade association in the state of Utah.
Created by: Megan07