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Business Glossary

Business Definition for: flat fee broker

Dictionary of Real Estate Terms

flat fee broker

a licensed broker who charges a fixed fee for the provision of brokerage services instead of a commission based on a percentage of the sales price of the property.

Example: Kramden, a flat fee broker, charges $5,000 to arrange the sale of a home, no matter what price is agreed upon by the buyer and seller. If a sale is not consummated within the term of the listing contract, no fee is paid.

See also discount broker

Related Terms:

discount broker

brokerage house that executes orders to buy and sell securities at commission rates sharply lower than those charged by afull-service broker.

Referring Terms:

discount broker

Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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