real estate agent

Also known as: estate agent

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Last updated

June 30, 2026

Quick Summary

A real estate agent is primarily a person in the business of selling land and buildings. These professionals, who can be agents or brokers, guide clients through the process of buying or selling a home. Traditionally, agents and brokers earned a commission, a percentage of the sale price, which was often split between the representatives of the buyer and seller.12

Recent rule changes in 2024 have introduced more transparency and negotiation options regarding these commissions. Buyers and sellers now negotiate commissions directly with their own agents, and while sellers may still cover buyer's fees, it's no longer a standard assumption. Agents must work under the supervision of a broker, who holds a higher license and can manage an agency.2

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agency
The variety of Anglo-American agents
…are the powers of the real estate agent, who may show the land and state the asking price to the potential buyer without ordinarily being empowered to make further representations. The store salesman is similarly restricted in his power to represent his principal and can usually do no more than…
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…are the powers of the real estate agent, who may show the land and state the asking price to the potential buyer without ordinarily being empowered to make further representations. The store salesman is similarly restricted in his power to represent his principal and can usually do no more than…
Read More