Glossary

THE OWNER-BROKER RELATIONSHIP

Broker- one who acts as an agent for others in negotiating contracts

Exclusive Right to Sell- a listing that gives the broker the right to collect a commission no matter who sells the property during the listing period

Listing- a contract wherein a broker is employed to find a buyer or tenant

Principal- a person who authorizes another to act
Ready, Willing, and Able Buyer- a buyer who is ready to buy at the seller’s price and terms, who has the financial capability to do so

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