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Real Estate Broker
A licensed individual or firm that acts as an intermediary between sellers and buyers of real estate, assisting in the negotiation and sale process.
Commission
A fee paid to an agent or employee for transacting a piece of business or performing a service, often calculated as a percentage of sales.
Recording Statutes
Laws that govern the recording of documents (such as deeds or mortgages) to provide notice of their content and to establish legal priority.
Race-Notice Statute
A law pertaining to real estate which gives priority to the first party to record an interest in a property, provided that party did not have notice of any other claims at the time of recording.
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