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Glossary of Terms

Real Estate Broker

Aka broker. A person who has passed a broker’s license exam. A broker can work alone, or hire real estate agents to work for them. Notice therefore a broker is a more qualified position. A broker cannot assess the value of a property (you must be an appraiser for that) but as real estate professionals they have a knowledge of the local real estate market that uniquely qualifies them to perform the informal estimates required of a BPO. Not to be confused with Real Estate Agent.