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10 Cards in this Set
- Front
- Back
Broker
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A licensee who acts as an intermediary between two parties and negotiates contract between them.
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Broker Associate
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And individual who is qualified to be issued a broker's license but who operates as a sales associate in the employ of another.
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Caveat Emptor
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Let the buyer beware!
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Compensation
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Anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received.
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License
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A privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest.
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Nolo Contendere
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A pleading of no contest by defendant; a plea in a criminal action not admitting guilt but subjecting the defendant to punishment as if it were a guilty plea. (No Contest)
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Owner-Developer
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An unlicensed entity that sells, exchanges, or leases its own property.
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Real Estate Services
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Real estate activities involving compensation for performing activities for another.
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Registration
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Authorization by the state to place an applicant on the register (record) of officially recognized individuals and businesses.
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Sales Associate
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A licensed individual who, for compensation, is employed by a broker or owner-developer.
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