real estate agency
A business whose agents help people buy, sell or rent property in return for commission or fees.
Definition
A real estate agency employs or hosts agents who market properties, find buyers or tenants, arrange viewings and guide negotiations and paperwork. Many operate under a broker who holds the license and supervises. Fees are usually a percentage of the sale price or a share of rent, but amounts and who pays vary by country and by agreement. Before signing with one, read the terms on exclusivity, duration, fees and marketing commitments. Interview more than one agency, and ask for examples of recent sales of similar properties in the same area with the time they took.
In a sentence
The real estate agency photographed the house and listed it online.
The seller compared commission terms from two agencies.
