Real estate broker the licensed real estate agent. There are state laws defining the types of relationships that can exist between clients and real estate licensees, and the lawful duties of real estate licensees to represent clients and members of the public. Rules vary substantially as defined by the law from state to state, for example, on subjects that include what legal language is necessary to transfer real property, agency relationships, inspections, disclosures, continuing education, and other subjects. In the United Kingdom, an estate agent is a person or business entity whose business is to market real estate on behalf of clients. There
Estate agent warnings right through to more severe penalties of up to £5,000 for each rule breached, and a maximum penalty of €5 million for breaches of the specific Anti Money Laundering rules. Some estate agents are members of the Royal Institution of Chartered Surveyors (RICS), the principal body for UK property professionals, dealing with both residential, commercial and agricultural property. Members, known as "Chartered Surveyors", are elected based on examination and are required to adhere to a code of conduct, which includes regulations about looking after their clients' money and professional indemnity insurance in case of error or negligence. The "Ombudsman