GLOSSARY
The operator's glossary.
Plain-English definitions of the terms owner-operators of 2–30-agent residential brokerages actually run into. Free reference, no signup.
Commission split
The agreed division of gross commission between an agent and the brokerage — e.g. a 70/30 split gives the agent 70%. Modern brokerages often layer a cap on top.
Commission cap
The maximum an agent pays the brokerage in split commissions per year; after reaching it the agent keeps ~100% (minus flat fees) until the year resets.
GCI (gross commission income)
Total commission a deal or agent generates before splits, fees, or expenses — the top-line number brokerages measure production against.
BBA (buyer-broker agreement)
A written agreement between a buyer and a brokerage defining representation and compensation. Post-2024 NAR-settlement practice made these standard before showings in most markets.
Transaction coordination (TC)
The operational management of a deal from contract to close — tracking inspection, appraisal, financing, title, and closing milestones so nothing lapses.
Pending / under contract
A deal with an accepted offer not yet closed. The highest-risk window operationally, where missed deadlines quietly kill transactions.
Lead routing
The rules that assign an inbound lead to a specific agent — by rotation, geography, or price band — ideally within minutes of capture.
Speed to lead
The elapsed time from a lead's inquiry to first human contact. Contacting within ~5 minutes converts several times better than after an hour.
CMA (comparative market analysis)
An estimate of a property's likely sale range built from recent comparable closed sales, used to guide listing price.
Fair housing
Federal and state laws prohibiting discrimination in housing on protected bases. Listing copy and ads must avoid protected-class references, even coded ones.
Wire fraud
A scam where fraudsters impersonate a title company to redirect a buyer's closing funds. Verified out-of-band by phone using a known number, never the one in a suspicious email.
Recruiting / retention
The broker-owner work of attracting and keeping agents — where split, cap, tools, and culture are the levers, and structured pitches beat ad-hoc ones.
IDX
Internet Data Exchange — the framework letting brokerages display MLS listings on their own sites, a common lead-capture source.
Agent onboarding
The 30/60/90-day process of getting a new agent productive: systems access, compliance training, first-deal support.
Know the terms? Run the system.
Brokerage OS turns this vocabulary into a working operating layer for owner-operators of 2–30-agent residential brokerages.