Brokerage Firm

Question 1

Brokerage Firm

Answer 1

is employed by the public to perform acts of brokerage; often referred to as a broker

Question 2

Principle Broker or Employing Broker

Answer 2

is in charge of and responsible for all real estate operations conducted by a real estate brokerage firm

Question 3

Salesperson/Associate Broker

Answer 3

act as the broker’s agent in conducting real estate transactions.

Question 4

Client

Answer 4

is the party who employs the broker to conduct one or more of the services of real estate for compensation.

Question 5

Prospect, Customer and Third Parties

Answer 5

are people with whom the broker hopes to be successful in accomplishing the object of his employment.

Question 6

Real Estate Market

Answer 6

Free Enterprise operates to produce and distribute goods and services by the free application of the four factors of production: Land, Labor, Capital Investment and Entrepreneurial activity and ability.