Dictionary of Business Terms: co-op
co-op
- arrangement between two real estate agents that generally results in splitting the commission between them.
- type of housing in which each tenant is a shareholder in a corporation that owns the building. See also cooperative.
Dictionary of Real Estate Terms: co-op
co-op
an arrangement between 2 real estate agents that generally results in splitting the commission between them.
Example: Abel obtains a listing contract on a piece of property. Baker agrees to find a buyer in exchange for a portion of the commission. Abel and Baker have arranged a co-op agreement.a type of housing in which each tenant is a shareholder in a corporation that owns the building. Also termed cooperative.
Example: Upon moving to New York, Abel obtains an apartment in a co-op. This requires purchase of shares in the apartment corporation.
