An agent or broker who is concerned with the sale, letting, management and valuation of real and leasehold property. The work is often combined with that of an auctioneer. The agent works on an ad valorem commission. He is a general agent. He is not legally bound to belong to any organization or to have any special educational qualifications in order that he may call himself an estate agent. There is, however, a senior professional body know as the Chartered Auctioneers and Estate Agents Institute, and movements are afoot to provide for the registration of estate agents for the better protection of the public.
|Reference: The Penguin Business Dictionary, 3rd edt.|