Commission paid by the seller in a transaction to the broker who arranged the sale, based upon some percentage of the selling price. A brokerage allowance usually refers only to transactions in which the broker does not take possession of the goods sold.
A buyer's broker in real estate brokerage represents the buyer's interests explicitly, locating appropriate properties, assisting in making offers, and negotiating contracts. The buyer may or may not pay a fee for these services.
A company that offers a wide range of financial services under one roof. For example, some large retail organizations offer stock, insurance, and real estate brokerage as well as banking services.
A designated period during which salespeople, especially in real estate, are required to stay in the office to handle inquiries from prospective clients who do not have an existing relationship with the firm.
In real estate brokerage jargon, a handyman special refers to a property that is in need of repairs, often marketed as a fixer-upper. The implication is that the property is a bargain for someone who can accomplish the repairs economically.
