Definition of "Board of REALTORS®"

Local group of real estate brokers who are members of the State and National Board of REALTORS®. Meets regularly with their membership and helps determine licensing requirements as well as managing the multiple listing service of their service area. They may also provide additional services to their members.

Comments for Board Of REALTORS®

Margaret Olian Margaret Olian said:

I had a contract to sell a commercial building in Texas. Two or three days prior to the expiration date, I sent an email to my realtor. In the subject line it said termination and lock codes. In the body f the letter I said nothing about terminating earlier than the signed contract. I sent this email to her to basically get the codes to supply my new realtor to access to the property. I never mentioned to terminate early. I knew she had a possible client and even though she didn't sell the property, I wanted to see if she could get an offer placed in the last couple of days. The contract had been extended one month and a couple of weeks as she was changing brokers. I did sign a new contract for her to work with a new broker, cut never signed a termination of contract. She is now saying I own her for money she spent while trying to find a buyer. Is there something you need to sign to terminate a contract? My local realtor said that there is.

Jan 09, 2023  18:19:34

 
Real Estate Agent

Hello Margaret! Thank you for contacting us1
Rules, laws, and requirements are different or can vary in each state. We recommend that they reach out to a real estate attorney who knows the law by heart and can give you an adequate response.

Jan 25, 2023  09:22:16
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The appearance definition isn’t as one might expect. The term itself is used in different ways, but they all are connected with perception or how something or someone is seen or ...

Time period that a round of regular recurring construction takes place. There may be boom and bust times in construction activity. ...

Roof design having two different pitches. See also gambrel roof. ...

Insurance affording protection against losses due to damage to or destruction of property or contents therein. Insurance protects assets and any future income thereon from loss, such as a ...

Cash flow before subtracting income taxes. ...

Amount awarded by a government when a person's property is condemned and he must move. ...

Levy charged to use something such as water supplied by the town. ...

Purchase of part of property or property rights when condemnation takes place. The owner must be justly reimbursed. ...

Business organized as a distinct legal entity with ownership evidenced by shares of stock. To form a corporation, "articles of incorporation" must be filed with the state. When approved, ...

Popular Real Estate Questions