Term
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Definition
| A relationship in which one person acts for or represents another |
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Definition
| A person who is authorized by another to act on his/her behalf |
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Definition
| One who for another person, and for commission, negotiates a saleor option to sell an interest or estate in real estate; who shows real estate or a business or its inventory |
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Definition
| The sale or lease of the business and good will of an existing business, enterprise, or opportunity, including a sale of the majority of assets or stocks of the business. |
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Definition
| The actual person, within the buyer broker firm that procured the buyer. |
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Definition
| The firm that has entered into a buyer agency agreement with the buyer indicating that the broker will be representing the interests of the buyer. |
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Definition
| The person who employs an agent to perform a service on his/her behalf. |
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Definition
| A broker, who works in conjunction with another broker in procuring a buyer for the seller's property. |
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Definition
| A person who recieves services given on pehalf of an for the benefit of a client. |
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Definition
| A multiple representation relationship in which each client is receiving negotiation services from the agent of the broker but who are not providing negotiation services to any other client of the broker in the transaction |
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Definition
| Receiving compensation related to the realestate transaction from someone other than the licensee's client without prior written consent from all parties to the transaction |
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Definition
| A way to defer capital gains tax by exchanging like property for like property. |
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Definition
| One who is placed in a position of trust and confidence, normally responsible for the money and/or property of another. |
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Definition
| A term used by the Wisconsin Department of Regulations and Licensing to refer to any person licensed or registered under state law to practice real estate. |
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Definition
| The agent within the employing firm who actually acquired the listing. |
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Term
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Definition
| The firm that the seller has employed under a listing contract. |
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Term
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Definition
| An adverse fact that a party indicates is of such significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects the party's decision to enter into a contract or the terms of a contract. |
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Definition
| A realationship between a broker and two or more of the broker's clients in which the clients are parties in the same transaction |
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Definition
| An agreement to keep open, for a set period, and offer to sell or lease real property. |
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Term
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Definition
| One who has permitted or directed another to act for his/her benefit and subject to his/her direction and control. |
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Definition
| the firm which procured the buyer for a seller. |
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Definition
| The practice of representing either the buyer or the seller but never both in the same transaction. |
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Term
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Definition
| A broker who is engaged by another broker to provide brokerage services in a transaction, but who is not the other broker's employee. |
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