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(redirected from Cooperative (real estate)) Also found in: Wikipedia. a form of cooperation in which the members are united for joint construction and use of housing units. The housing cooperative originated under capitalism as an expression of the struggle of working people against the housing shortage.
A real estate brokerage contract or a listing agreement creates an agency relationship between a real estate broker and another person, called the principal, which covers the broker's efforts to sell, buy, lease or exchange real estate for the principal. The principal can be a seller, buyer, lessor or lessee. If you're selling your real estate, you can hire a real estate broker by signing a brokerage contract or listing agreement with the broker. The listing agreement will contain such things as price, terms of sale and length of the listing time.