Definition Of Real Estate Brokerage

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Broker Price Opinion (BPO) Definition

Broker Investopedia.com More results

1 hours ago A broker price opinion (BPO) is the estimated value of a property as determined by a real estate broker or other qualified individual or firm. A broker price opinion is based on the

Link: https://www.investopedia.com/terms/b/broker_price_opinion.asp

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Real Estate Broker Department of State

Real Dos.ny.gov More results

7 hours ago A Real Estate Broker is any person, firm, limited liability company or corporation, who, for another and for a fee, commission or other valuable consideration, lists for sale, sells, at auction or otherwise, exchanges, buys or rents, or offers or attempts to negotiate a sale, at auction or otherwise, exchange, purchase or rental of an estate or

Link: https://dos.ny.gov/real-estate-broker

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What Is A Real Estate Brokerage? Massimo …

What Massimo-group.com More results

8 hours ago A real estate agent must work for real estate brokers. They cannot work on their own. They also need to pass the state requirements and obtain a real estate license. In some states, an agent can be under one brokerage only. Brokers may work for themselves, build a real estate brokerage firm, and hire real estate agents. They may also deal with

Link: https://massimo-group.com/what-is-a-real-estate-brokerage/

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Broker Price Opinions Pennsylvania …

Broker Parealtors.org More results

4 hours ago The definition of a Comparative Market Analysis is: A written analysis, opinion or conclusion by a broker, associate broker or salesperson relating to the probable sale or rental price of a specified parcel of real property in an identified real estate market at a specified time, which is prepared for any of the following: An existing or

Estimated Reading Time: 12 mins

Link: https://www.parealtors.org/realtor-resource-library/broker-price-opinions/

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NYS Division of Licensing Services

NYS Dos.ny.gov More results

2 hours ago A "real estate broker" means any person, firm, limited liability company or corporation, who, for another and for a fee, commission or other valuable consideration, lists for sale, sells, at auction or otherwise, exchanges, buys or rents, or offers or attempts to negotiate a sale, at auction or otherwise, exchange, purchase or rental of an

Link: http://dos.ny.gov/licensing/re_broker/re_broker.html

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Real Estate Definition

Real Investopedia.com More results

1 hours ago Real estate is the land, plus any permanent man-made additions, such as houses and other buildings. Real property —one of the two main classifications of property—is the interests, benefits

Link: https://www.investopedia.com/terms/r/realestate.asp

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Definition Of Gross Sales Price In Real Estate

Gross Realestateagent.com More results

7 hours ago Definition of "Gross Sales Price". The definition of gross sales price in real estate refers to the combined cost of a property or listing before subtracting the real estate agent’s commission, sales tax and other auxiliary fees. In short, it is the price, in its entirety, that the buyer must pay in order to purchase the property.

Link: https://www.realestateagent.com/real-estate-glossary/real-estate/sales-price-gross.html

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Everything to Know About BPOs/BOVs in CRE

Know Reonomy.com More results

Just Now In commercial real estate, a broker opinion of value (BOV)—often referred to as a broker price opinion (BPO)—is used to come up with an estimate of value for a specific commercial property. BOVs/BPOs are used by many CRE professionals, including investors, property owners, lenders, CPAs and real estate attorneys.

Link: https://www.reonomy.com/blog/post/broker-opinion-of-value-commercial-real-estate

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497 Real Estate Terms: The Ultimate Real Estate …

Real Tomfeeley.com More results

4 hours ago A real estate broker may not conduct business without a real estate broker’s license. Real Estate Investment Trust (REIT) Ownership of real estate by a group of individual investors who purchase certificates of ownership in a trust. The trust invests in real property and distributes the profits back to the investors free of corporate income tax.

Link: https://www.tomfeeley.com/real-estate-terms/

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Defining a 'Trophy' Property by Price The New York …

Price Cityroom.blogs.nytimes.com More results

4 hours ago For some, a trophy is a property costing at least $20 million, but a recent survey of real estate brokers reveals a wide range of definitions. Defining a 'Trophy' Property by Price - …

Link: https://cityroom.blogs.nytimes.com/2011/01/28/big-deal-the-price-of-bragging-rights/

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Brokerage Relationships (BRRETA)

Price Krec.ks.gov More results

6 hours ago Brokerage Realtionships in Real Estate Transactions Act. The seller's agent represents the seller only, so the buyer may be either unrepresented or represented by another agent. The seller's agent is responsible for performing the following duties: promoting the interests of the seller with the utmost good faith, loyalty, and fidelity.

Link: https://www.krec.ks.gov/resources/brokerage-relationships-(brreta)

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What Is a Broker's Price Opinion (BPO)? Millionacres

What Millionacres.com More results

8 hours ago A broker's price opinion is a broker's or licensed real estate professional's opinion of the value of a property. Like a comparative market analysis (CMA), the broker uses comparable properties (often referred to as comps) to determine the likely value, which is provided in a report. The broker or agent is looking for a minimum of three

Link: https://www.millionacres.com/real-estate-basics/articles/what-brokers-price-opinion-bpo/

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CHAPTER 2 BASIC REAL ESTATE ECONOMICS

CHAPTER Economicus.org More results

2 hours ago the quantity demanded declines with price or, in real estate terms, that a lower amount of space or number of units is demanded at higher prices. Embedded in the demand definition is the concept of effective market demand , that

Link: http://www.economicus.org/library/harvard-chapter2-basic-real-estate-economics.pdf

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How to determine the value of a real estate sales office

How Bizquest.com More results

3 hours ago If you calculate the value based upon revenues, then you can factor in around 25% - 50% of average annual commissions. If you use a multiple method of Owner's Benefits, which is the formula I prefer, then an average real estate sales office should trade around 1 -2 times this figure. There is one valuation formula that I was presented a number

Link: https://www.bizquest.com/resource/how_to_determine_the_value_of_a_real_estate_sales_-165.html

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NEW YORK STATE COMMERCIAL ASSOCIATION OF …

NEW Cbcworldwide.com More results

9 hours ago Broker may share the commission with any other cooperating agent authorized under law to receive a commis-sion. Owner agrees to refer any and all inquiries about the property to the Broker. 2. BROKER’S AUTHORITY Broker is licensed by New York State as a Real Estate Broker and will act as the limited agent of the owner

Link: https://www.cbcworldwide.com/media/blueprintlibrary/183.pdf

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Broker Price Opinion (BPO)

Broker Thebalancesmb.com More results

9 hours ago The broker price option (BPO) is a tool that lenders and mortgage companies use to value properties in situations where they believe the expense and delay of an appraisal are not necessary. Real estate brokers are given an order to do a BPO by the lender, mortgage company, or loss mitigation company. The broker does either a drive-by BPO or an

Estimated Reading Time: 3 mins

Link: https://www.thebalancesmb.com/all-about-the-bpo-or-broker-price-opinion-2866428

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Statutes & Constitution :View Statutes : Online Sunshine

Online Leg.state.fl.us More results

6 hours ago (a) Authorized brokerage relationships. — A real estate licensee in this state may enter into a brokerage relationship as either a transaction broker or as a single agent with potential buyers and sellers. A real estate licensee may not operate as a disclosed or nondisclosed dual agent. As used in this section, the term “dual agent” means a broker who represents as a fiduciary both the

Link: http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0475/Sections/0475.278.html

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Real Estate Agent Fees: A Quick Guide Contactually

Real Contactually.com More results

Just Now Brokers, on the other hand, are free to engage in any form of customer service or transaction, and they can receive payment directly for their assistance. Flat Fee Real Estate Brokers. Most real estate fees are set on a commission basis, as a percentage (usually 5 or 6 percent) of the selling price of a home.

Link: https://www.contactually.com/blog/real-estate-agent-fees-a-quick-guide

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Real Estate Is Getting Real: Whisper Prices Aren’t As

Real Apartmenttherapy.com More results

6 hours ago So, when there are several interested buyers, it’s in the seller’s broker’s best interest to do what he can to sell to a direct buyer. The broker’s best interest, not his client’s, and that’s where things can get dicey. In a situation where several potential buyers are all putting in their best offers, brokers often “whisper” the highest price to the unrepresented buyer in

Link: https://www.apartmenttherapy.com/real-estate-is-getting-real-whisper-prices-arent-as-innocent-as-they-sound-the-brick-underground-212881

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Definition Of Collusion In Real Estate

Real Realestateagent.com More results

9 hours ago C.V. Key, Real Estate Agent All Four Real Estate Smithlake The term collusion may make you think about colluding from the start, and you wouldn’t be far from the truth. The definition of collusion is a secret, non-competitive, and, at times, illegal agreement between two or more rivals that aim to destabilize the market’s balance.

Link: https://www.realestateagent.com/real-estate-glossary/real-estate/collusion.html

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Guidelines Interpretations of the Connecticut Real …

The Easternctrealtors.com More results

3 hours ago signed by the record owner and real estate broker. A listing for commercial real property must be signed by the real estate broker and the person ag ainst whom the listing agreement will be enforced. Buyer representation agreements must be signed by the real estate broker and the prospective buyer(s). As a result of an amendment to Conn. Gen

Link: https://www.easternctrealtors.com/wp-content/uploads/CTrelawsguidelinesandinterpretations.pdf

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The Law Relating to Real Estate Brokers and …

The Dol.wa.gov More results

1 hours ago ing broker's compensation is for services related to real estate brokerage services provided by the firm. Nothing in this sub-section is intended to relieve the managing broker or real estate firm of the supervisory duties identified in this chapter. (14) "Licensee" means a person holding a license as a real estate firm, managing broker, or broker.

Link: https://www.dol.wa.gov/business/realestate/docs/relawbook.pdf

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52 essential real estate terms you should know …

Real Opendoor.com More results

5 hours ago 52 essential real estate terms you should know. Real estate is full of jargon (“DOM”, “HOA”, “pre-qual”, etc), and it can add layers of confusion to an already convoluted process. Whether you’re buying or selling a home, we created this resource to help you learn the vocabulary. We’ve compiled an ever-growing list of 52 real

Link: https://www.opendoor.com/w/blog/real-estate-terms-you-should-know

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Broker's price opinion Wikipedia

Price En.wikipedia.org More results

4 hours ago A broker's price opinion is a report that is performed by a licensed real estate agent, broker or appraiser. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an Exterior Drive-By or a Full Interior report.

Link: https://en.wikipedia.org/wiki/Broker%27s_price_opinion

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Purchase Price Super Brokers Glossary

Price Superbrokers.ca More results

4 hours ago In real estate, the delivery of a deed, the payment of the purchase price, the signing of notes, and the paying of closing costs, which completes a real estate transaction. Down Payment — Definition, The portion of the purchase price a buyer pays, in cash, at the time the loan originates. Fair Market Value (FMV) — Acronym, Very Important,

Link: https://www.superbrokers.ca/library/glossary/term/purchase-price

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Broker Price Opinion (BPO) Real Estate, Homes for …

Broker Redfin.com More results

4 hours ago Definition of Broker Price Opinion (BPO) Similar to an appraisal, a Broker Price Opinion (BPO) is a real estate broker 's estimate of a home's value. Banks often order BPOs instead of appraisals during short sales, foreclosures, or loan refinancing, since BPOs are typically less than half the cost of an appraisal. BACK TO GLOSSARY.

Link: https://www.redfin.com/definition/broker-price-opinion

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RCW 18.85.011: Definitions.

RCW App.leg.wa.gov More results

18.85.0114 hours ago Definitions. The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "Advertising" means any attempt by publication or broadcast, whether oral, written, or otherwise, to induce a person to use the services of a real estate firm, broker, managing broker, or designated broker.

Link: https://app.leg.wa.gov/rcw/default.aspx?cite=18.85.011

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Real Estate Glossary What Does it All Mean?

Real Masonmorse.com More results

7 hours ago Designated broker: An employing or employed broker designated in writing by an employing broker to serve as a single agent or transaction-broker for a seller, landlord, buyer or tenant in a real estate transaction; does not include a real estate brokerage firm that consists of …

Link: https://www.masonmorse.com/real-estate-glossary

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What Is Real Estate? The Balance

What Thebalance.com More results

4 hours ago Real estate is defined as land that might or might not have yet been improved upon by adding a structure or other improvements. Statistics about new home construction can give you a heads-up on the future of the housing market for investing purposes. The real estate market can be heavily dependent on the economy.

Link: https://www.thebalance.com/real-estate-what-it-is-and-how-it-works-3305882

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A Short Guide to Real Estate Lingo Real Estate News

Real Realtor.com More results

5 hours ago Listing: An agreement between a real estate broker and a home owner that allows the broker to market and arrange for the sale of the owner’s home. The word “listing” is …

Link: https://www.realtor.com/advice/buy/short-guide-real-estate-lingo/

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Regulations of the Real Estate Commissioner

The Dre.ca.gov More results

2 hours ago (4) The late license renewal fee under Section 10201 of the Code shall be $450 for a real estate broker or restricted real estate broker license and $36 7 for a real estate salesperson or restricted real estate salesperson license. (5) The license fee for the restricted real estate broker license under Section 10209.5 of the Code shall be $300.

Link: https://www.dre.ca.gov/files/pdf/relaw/2019/regs.pdf

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Seller Representation Agreement Definition, …

Seller Corporatefinanceinstitute.com More results

6 hours ago A seller representation agreement, also known as a listing agreement, is an agreement between a seller of real estate and a brokerage firm that provides detailed information on the property being sold. It forms the foundation of negotiations between the seller and the buyer through an agent. It is used when drafting a sale agreement.

Link: https://corporatefinanceinstitute.com/resources/knowledge/deals/seller-representation-agreement/

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Glossary and Definitions Institutional Real Estate, Inc.

And Irei.com More results

6 hours ago An agreement between the owner of a property and a real estate broker giving the broker authorization to attempt to sell or lease the property at a certain price and terms in return for a commission, set fee or other form of compensation. Loan-to-value ratio (LTV) The ratio of the value of the loan principal divided by the property's appraised

Link: https://irei.com/glossary/

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Five Antitrust Concerns for RealEstate Professionals

Five Theantitrustattorney.com More results

7 hours ago Antitrust law is especially relevant to real-estate professionals like brokers and salespeople because (1) competitor brokers both compete and cooperate on a daily basis; (2) prices and commission splits are often announced and well-known; (3) there is a history of tension and battles between a traditional business model and new business models

Link: https://www.theantitrustattorney.com/five-antitrust-concerns-real-estate-professionals/

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Chapter 392 Real Estate Brokers and Salespersons

Chapter Cga.ct.gov More results

7 hours ago Sec. 20-311. Definitions. As used in this chapter, unless the context otherwise requires: (1) “Real estate broker” or “broker” means (A) any person, partnership, association, limited liability company or corporation which acts for another person or entity and for a fee, commission or other valuable consideration, lists for sale, sells, exchanges, buys or rents, or offers or attempts to

Link: https://www.cga.ct.gov/current/pub/chap_392.htm

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How a Broker Price Opinion Works Commercial Real …

How Propertymetrics.com More results

4 hours ago The broker price opinion (BPO), also known as a broker opinion of value (BOV), is a popular way of estimating the value of a property. Typical reasons for ordering a broker price opinion include estimating value prior to purchase or sale, understanding collateral value when securing a new loan or refinancing, estimating liquidation value, buying out a partner’s interest in a property, among

Link: https://propertymetrics.com/blog/broker-price-opinion/

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Real Estate Terms Real Estate Glossary Pleasant View

Real Pleasantviewrealty.com More results

6 hours ago A real estate broker is a properly licensed person who, for a valuable consideration, serves as an agent to others to facilitate the sale or lease of real property. BROKERAGE – That aspect of the real estate business which is concerned with bringing together the parties and completing a real estate transaction. Brokerage involves exchanges

Link: https://www.pleasantviewrealty.com/real-estate-glossary/

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Gross Price vs. Net Price in Home Buying Sapling

Price Sapling.com More results

9 hours ago The net price of real estate is the other way that professionals discuss real estate prices. The net purchase price in real estate is how much the seller will have in his pocket after the transaction is completed and all fees for attorneys and real estate brokers are deducted.

Link: https://www.sapling.com/12024557/gross-price-vs-net-price-home-buying

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Real Estate Glossary CENTURY 21

Real Century21.com More results

4 hours ago Real Estate Glossary. There is a lot of real estate terminology used during the home buying and selling process and CENTURY 21® is here to help you understand those terms. We have created a glossary of the most commonly used real estate terms and their definitions in order to help you better understand terminology used along your home buying

Link: https://www.century21.com/glossary

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Sherman Antitrust Laws Real Estate Exam …

Sherman Prepagent.com More results

6 hours ago Sherman antitrust laws prohibit price-fixing, group boycotting, the allocation of customers or markets, and tie-in agreements.. Price fixing is prohibited. This means that competing brokers, real estate governing bodies, or multiple listing organizations cannot agree to set sale conditions, fees, or management rates.

Link: https://www.prepagent.com/article/sherman-antitrust-laws

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How to Define Luxury Real Estate in Today's Market …

How Realestate.usnews.com More results

Just Now Luxury real estate is defined differently across different markets, as property values, median resident income and area development varies widely depending on the metro area. For example, the Los Angeles area has a significantly higher top end of the market and a higher cutoff point for buyers to afford these properties compared to smaller

Link: https://realestate.usnews.com/real-estate/articles/how-to-define-luxury-real-estate-in-todays-market

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Illinois General Assembly Home Page

General Ilga.gov More results

8 hours ago The activities of a real estate broker or managing broker engaging in the ordinary course of business as a broker, as defined in this Section, shall not be considered a broker price opinion if no compensation is paid to the broker or managing broker, other than compensation based upon the sale or rental of real estate. A broker price opinion

Link: https://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=1364

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Frequently Asked Questions

What does it mean to be a broker in real estate?

(2) "Broker" means a natural person acting on behalf of a real estate firm to perform real estate brokerage services under the supervision of a designated broker or managing broker.

When do real estate brokers have to discuss pricing?

Of course, brokers negotiating a particular transaction must discuss pricing (for that transaction). Finally, it might be tempting for a broker to respond to a customer inquiry about a commission that the price is standard or is what some real-estate association suggests they charge. That should not, however, be the response.

What's the difference between broker fees and real estate agent fees?

Brokers, on the other hand, are free to engage in any form of customer service or transaction, and they can receive payment directly for their assistance. Most real estate fees are set on a commission basis, as a percentage (usually 5 or 6 percent) of the selling price of a home.

What does the gross price of real estate mean?

The gross price in real estate is the how much the buyer will have to pay to purchase the property. This is not the amount that the seller will receive because the fees for attorneys and real estate brokers are not included. This is usually the advertised price of real estate.

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