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10 Cards in this Set

  • Front
  • Back
Broker
A licensee who acts as an intermediary between two parties and negotiates contract between them.
Broker Associate
And individual who is qualified to be issued a broker's license but who operates as a sales associate in the employ of another.
Caveat Emptor
Let the buyer beware!
Compensation
Anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received.
License
A privilege granted by the state to operate as a real estate broker, broker associate, or sales associate; a type of time-share interest.
Nolo Contendere
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)
Owner-Developer
An unlicensed entity that sells, exchanges, or leases its own property.
Real Estate Services
Real estate activities involving compensation for performing activities for another.
Registration
Authorization by the state to place an applicant on the register (record) of officially recognized individuals and businesses.
Sales Associate
A licensed individual who, for compensation, is employed by a broker or owner-developer.