A realtor is a person who is licensed by the Arizona Corporation Commission to buy and sell commercial and residential real estate throughout the state. Real estate is property consisting of the structures and land on it, and its accompanying natural resources including water, plants or minerals; immovable personal property of that kind; and ancillary interests in it. Real estate brokers are persons engaged in the business of buying and selling commercial real estate in Arizona and may be employed by individual sellers, banks, developers or leasing agents. There are some properties which may be the responsibility of one broker, such as office buildings.
Within the United States, there are six different types of real estate brokers. The most common in the United States is the residential real estate broker. This type of broker specializes in purchasing residential property and various kinds of residential leases. In commercial real estate brokers, one can find those involved in buying and selling commercial properties, such as office buildings. There are also those involved in the buying and selling of manufactured homes, hotels, and apartment buildings.
The cost of dealing with the Arizona Corporation Commission is computed by receiving a commission, which is based on the sale price and the number of units sold. The six classes of commission include the public broker’s commission, the limited purpose commission, the mixed commission, the open market commission and the specialty commission. These commissions can also be called a salesperson’s fee, a broker’s fee, or a contractor’s fee. Private realtors and limited partnerships may also be required to pay certain additional sales commissions.