What term is used to describe a person, firm, or corporation that provides information regarding real estate for sale or lease?

Prepare for the Virginia Real Estate License Test. Use flashcards and multiple-choice questions with hints and comprehensive explanations to ace your exam. Start your study today!

The term that accurately describes a person, firm, or corporation that provides information regarding real estate for sale or lease is a common source information company. This designation typically refers to entities that compile and disseminate real estate listing data, often serving as a resource for buyers, sellers, and agents looking for properties. Common source information companies play a critical role in the real estate market as they gather data from various sources, making it easier for individuals and professionals to access a vast array of property listings.

Brokerage, while related to real estate transactions, specifically refers to licensed entities that facilitate the buying, selling, or leasing of properties and may employ agents. Dual agency and designated agency pertain to specific relationships within real estate transactions where an agent represents both the buyer and seller, or assigns responsibility to a particular agent within the brokerage, respectively. These terms focus more on representation and agency relationships rather than the provision of information about property listings.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy