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GA MLS Unit 1

TermDefinition
Associate Licensee A licensed real estate salesperson who is employed by or associated with the broker to perform brokerage activities on behalf of or for the broker.
Broker Any person or entity issued a broker’s real estate license by the Georgia Real Estate Commission pursuant to Real Estate License Law statutes. The term “broker” may also refer to the broker’s licensee.
Code Of Ethics A written system of standards for ethical conduct
Market A place where goods can be bought and sold and a price established.
Real Estate Licensee In real estate practice, a person who has the skills and knowledge to be licensed as a real estate broker or salesperson
Salesperson Any person, other than an associate broker, who acts on behalf of a real estate broker in performing any act authorized to be performed by the broker in this unit.
Supply And Demand The appraisal principle that follows the interrelationship of the supply of and demand for real estate. Because appraising is based on economic concepts, this principle recognizes that real property is subject to the influences of the marketplace as with
Sales Associate A person who performs real estate activities while employed by a licensed real estate broker.
Created by: Keljuan79
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