A multiple listing service is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation and accumulate and disseminate information to enable appraisals. A multiple listing service's database and software is used by real estate brokers in real estate, representing sellers under a listing contract to widely share information about properties with other brokers who may represent potential buyers or wish to work with a seller's broker in finding a buyer for the property or asset. The listing data stored in a multiple listing service's database is the proprietary information of the broker who has obtained a listing agreement with a property's seller.
A real estate broker or realtor is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency. Many states require written disclosures to be signed by all parties outlining the duties and obligations.
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need of real estate to be cared for and monitored, with accountability for and attention to its useful life and condition considered. This is much akin to the role of management in any business.
A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses.
A listing contract is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property.
The Texas State Board of Examiners of Psychologists (TSBEP) was established in 1969 by the Sixty-First Texas Legislative Session with passage of the Psychologists' Certification and Licensing Act, V.T.C.S., Article 4512c. The legislature authorized the agency to regulate the practice of psychology in the state of Texas. The original board consisted of six members who issued the first license for the independent practice of psychology in 1979. The legislature has since amended the “Act” numerous times. In 2004 the name of the Act was changed to the “Psychologists’ Licensing Act.”
The Texas Alcoholic Beverage Commission, or TABC, is a Texas public agency responsible for regulating, inspecting, and taxing the production, sale, and use of alcoholic beverages within the state. The agency was established in 1935 and is headquartered in Austin.
Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of privately held businesses in the buying and selling process. They typically estimate the value of the business; advertise it for sale with or without disclosing its identity; handle the initial potential buyer interviews, discussions, and negotiations with prospective buyers; facilitate the progress of the due diligence investigation and generally assist with the business sale.
An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers under a contract.
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice.
Custom brokers or Customs House Brokerages are working positions that may be employed by or affiliated with freight forwarders, independent businesses, or shipping lines, importers, exporters, trade authorities, and customs brokerage firms.
A buyer brokerage or buyer agency is the practice of real estate brokers and their agents representing a buyer in a real estate transaction rather than, by default, representing the seller either directly or as a sub-agent. In the United Kingdom and Australia, the most common term is buying agent.
Flat-fee MLS refers to the practice in the real estate industry of a seller entering into an "à la carte service agreement" with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. A flat-fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local multiple listing service (MLS) à la carte without requiring the seller to use all services.
In a real estate context, an option fee is money paid by a Buyer to a Seller for the option to terminate a real estate contract.
The Texas Commission on Law Enforcement or TCOLE, serves as the regulatory agency for all peace officers in Texas, which includes sheriffs and their deputies, constables and their deputies, police officers, marshals, troopers, Texas Rangers, enforcement agents of the Alcoholic Beverage Commission, investigators of the Attorney General, and game wardens. County jailers and public security officers are also regulated by TCOLE.
An exclusive buyer agent (EBA) is a U.S. real estate firm that represents only buyers of real estate. EBA firms never take listings and, therefore, never represent the seller in a real estate transaction.
The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States.
The Oklahoma Department of Securities (ODS) is an agency of the state of Oklahoma. The department oversees the securities business in Oklahoma. The department regulates securities agents, broker-dealers, and investment advisers as well as the registration of stocks, bonds, and many other types of securities.
The New Jersey Department of Banking and Insurance (DOBI) is one of 15 principal departments in New Jersey government. The department's mission is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of these industries. The Commissioner of DOBI is Marlene Caride.
The California Department of Real Estate (DRE) is a California state agency focused on safeguarding and promoting the public interest in real estate matters through licensure, regulation, education, and enforcement. The DRE is headquartered in Sacramento and has district offices in Oakland, Fresno, Los Angeles, and San Diego. There are 425,922 real estate licensees in California as of July 2021.
