Real estate agent
A licensed person who helps people buy, sell or rent property. Agents work under a broker and are paid by commission, not salary.
Also called: agent, salesperson, broker associate
Related terms
A license level above agent. A broker can run a brokerage and supervise agents. Agents must work under a broker.
An agent or broker who belongs to the National Association of Realtors (NAR) and agrees to its code of ethics. Every Realtor is an agent; not every agent is a Realtor.
The state license you need to be paid for helping people buy or sell property. You take pre-licensing classes, pass a state exam and work under a broker.
The company agents work under. Commission checks go to the brokerage first, which pays the agent their share after its split and fees.
What agents are paid when a deal closes, usually a percent of the sale price. It's always negotiable. It goes to the brokerage, which pays the agent their share.