Also known as: realtors · real estate agent · real estate broker
Written by attorneys · grounded in primary & secondary sources — see below
2 senses
A member of the National Association of Realtors entitled to use the servicemark. The designation signals adherence to the association's code of ethics and professional standards.
A member of the National Association of Realtors entitled to use the servicemark. The designation signals adherence to the association's code of ethics and professional standards.
The city landmarks commission included a realtor among its required members when it designated Penn Central's terminal as a historic site. The realtor's professional expertise informed the commission's evaluation of the building's architectural significance. The designation triggered the regulatory process that later produced the takings challenge.
Any real estate agent or broker who assists in the sale or rental of property. The term is often used interchangeably with broker even when the individual is not a member of the National Association of Realtors.
Renata Russo, a real estate broker, located Riverfront Developments as a purchaser willing to pay the full listed price for a waterfront warehouse under an exclusive listing agreement. The parties executed a written contract with no financing contingency. When the seller later refused to close and withheld the commission, the broker's production of a buyer meeting the seller's terms entitled her to recover the six percent fee.
Any real estate agent or broker who assists in the sale or rental of property. The term is often used interchangeably with broker even when the individual is not a member of the National Association of Realtors.
Each sense below has its own examples, sources, and questions.
No. The capitalized term is a servicemark reserved for association members, but the lowercase term is commonly used to refer to any real estate agent or broker regardless of membership.
A realtor joined Defenders of Wildlife as a plaintiff asserting injury from federal funding decisions affecting overseas habitats. The realtor claimed professional interest in the affected regions but lacked concrete plans to visit the sites. The court examined whether that interest satisfied the injury-in-fact requirement for standing.
A realtor filed suit against a manufacturing plant for failing to file required environmental reports under federal law. The complaint sought civil penalties payable to the government rather than to the realtor personally. The court first addressed whether the realtor possessed standing before reaching the merits of the reporting violation.
A realtor petitioned the city after it conditioned approval of a commercial development on dedicating land for a bike path and drainage easement. The realtor argued the conditions lacked an essential nexus and rough proportionality to the project's impacts. The dispute centered on whether the exactions violated the Fifth Amendment.
A realtor advised a property owner on rental practices that resulted in racial steering of prospective tenants. The owner defended on the ground that the conduct reflected private preferences rather than state action. The court considered whether the realtor's involvement triggered constitutional scrutiny under the Fourteenth Amendment.
A realtor earns the commission by producing a buyer ready, willing, and able to purchase on the seller's terms or upon execution of the contract of sale, depending on the listing agreement. The seller may not in bad faith refuse to complete the transaction and then deny the commission.
An oral contract to employ a realtor and pay a commission is generally not within the statute of frauds as a contract for the sale of land. Many states, however, have enacted separate statutes that expressly require a writing for any agreement to pay a real estate broker's commission.
Recovery in restitution is barred when the purpose of the statute would be frustrated by allowing the realtor to recover the same amount promised under the unenforceable contract. The statute's goal of requiring written evidence of the commission agreement would be undermined by such restitution.
…that it include at least three architects, one historian qualified in the field, one city planner or landscape architect, one realtor, and at least one resident of each of the city’s five boroughs. N. Y. C. Charter § 534 (1976). In addition to the ordinance’s requirements concerning the composition of the Commission,…