GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Cooperating Broker


Synonyms:joint broker, real estate agent
Filed Under: real-estate
Tags: broker, realty
 

Definition of cooperating broker

cooperating broker
1. A real-estate broker who finds a buyer for a property and initiates a negotiation for a share of the commission with another broker (usually with the "listor").

Related Terms and Acronyms:

  • agency (agcy)   A relationship between two parties -- a client and an agent -- in which the agent represents the client in transactions with a third party.
  • broker (Bkr)   A person or firm who acts on behalf of another.
  • exclusive listing   A legal agreement giving one real-estate agent the right to sell a property for a specified period, but owners retain the right to sell their property themselves without paying the agent commission.
  • real estate broker   An individual who is licensed to represent a buyer or a seller of real estate and collects commissions for the work. Most brokers have agents working for them and they collect a portion of those commissions in exchange for providing office space, marketing, and other overhead.
  • seller broker   One who earns a commission from the seller of a property in exchange for finding a buyer and assisting in negotiation.
  • subagent   A real estate agent who finds a buyer for a property, and is not the property's listing agent. The subagent usually earns a portion of the commission.

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