UND Real Estate Pre-Licensure Course: ND License Law

appointed agent - Answer-a broker that appoints a licensee of the brokerage firm to represent a client to the exclusion of others in the brokerage firm client - Answer-a person that has a written agency agreement with a real estate brokerage firm dual agency - Answer-one broker represents a buyer and a seller in a single transaction real estate - Answer-any interest in land, other than oil, gas or mineral leases real estate broker - Answer-any person that expects to collect compensation from another person for a single transaction relating to real estate real estate broker firm - Answer-licensed by the commission as person that is providing brokerage services through a broker's license real estate salesperson - Answer-works under the direction of a licensed broker to collect a commission in a real estate transaction disposition - Answer-a transaction concerning a subdivision if undertaken for gain or profit offer - Answer-an attempt to encourage a person to acquire an interest in land if done for gain or profit purchaser - Answer-a person who attempts and/or succeeds to an interest in land subdivision - Answer-any land outside of North Dakota that is divided into 5 or more parcels and advertised for sale authorized financial institution - Answer-meets the state requirements to do banking in North Dakota advertising - Answer-all forms or representation, promotion and solicitation related to real estate brokerage trade name - Answer-a real estate brokerage business name licensed with the ND Real Estate Commission real estate transaction - Answer-any transaction involving residential property for 1 to 4 families