GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Subagent


Synonyms:sub-agency
Filed Under: real-estate
Tags: agent, realty
 

Definition of subagent

subagent
1. A real estate agent who finds a buyer for a property, but is not the property's listing agent. The subagent usually earns a portion of the commission.

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.
  • buyer broker   One who earns a commission from the buyer of a property in exchange for finding a seller and assisting in negotiation.
  • cooperating broker   A real-estate broker who finds a buyer for a property and initiates a negotiation and shares in a commission.
  • dual agent   A real estate agent who acts for both parties in a property sale.
  • 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.
  • open listing   A property that a number of brokers can market and sell for a commission.
  • real estate agent   A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it.
  • 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.
  • realtor   A real estate broker or an associate holding active membership in a real estate board.
  • seller broker   One who earns a commission from the seller of a property in exchange for finding a buyer and assisting in negotiation.

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