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8 Cards in this Set

  • Front
  • Back

Buyer agency agreement

A principal agent relationship in which the sponsoring broker is the agent for the buyer, with fiduciary responsibilities to the buyer

Comparative market analysis (CMA)

A comparison of the prices of recently sold homes that are similar to a listing seller's home and terms of location, style, and amenities

Contemporaneous offers

2 offers on the same property. Same broker 2 different clients.

Exclusive-agency listing

A listing contract under which the owner appoints a broker as his exclusive agent for a designated period of time to sell the property on the owners stated terms for a commission. The owner reserves the right to sell without paying anyone a commission if he sells to a prospect who has not been introduced or claim by the sponsoring broker

Exclusive right-to-sell listing

A listing contract under which the owner appoints a designated broker as his exclusive agent for a designated period to sell a property on the owners stated terms. The owner agrees to pay the designated broker a commission when the property is sold, whether by the designated broker, the owner, or another broker

Market value

The most probable price that property would bring in an arm's length transaction under normal conditions on the open market

Minimum services

A provision of the real as state license act of 2000 there requires a licencees to perform a minimum level of service to clients

Multiple listing service (MLS)

A marketing organization composed of member brokers who agreed to share their listing agreements with one another In the hope of procuring ready, willing, unable buyers for their properties more quickly than they could on their own