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CH 1
Intro to Real Estate Business
Term | Definition |
---|---|
Broker | One who acts as an intermediary on behalf of others for a fee or commission |
Licensee | A person who has the skills and knowledge to be licensed in real estate |
Market | A place where goods can be bought and sold and a price established |
Salesperson | A person who performs real estate activities while employed by or associated with a licensed real estate broker |
Supply and demand | Amount of goods available in the market to be sold at a given price vs the amount of goods people are willing and able to buy at a given price. Principle of the interrelationship of these terms. |