A real estate agent is a licensed person who helps buyers and sellers of real estate find each other and facilitates the negotiation and closing of real estate transactions. A buyer and seller will each often have an agent representing and assisting them in this process.

Real estate agents are often referred to as agents or sales agents—and may be referred to as a Realtor®—which indicates the agent is a member of the National Association of Realtors® trade association. Real estate agents may also assist landlords and tenants (renters) with finding each other and negotiating leases and are referred to as rental agents in that context.

There are various fee structures available in the market, but agents traditionally work on a commission basis, taking a percentage of the sale price of a completed real estate transaction as their fee. The seller of a property will typically sign an agreement with their agent (the listing agent) to list and market the property and will split this fee with the buyer’s agent.

The commission fee shared by the seller's agent and the buyer's agent is typically deducted from the funds paid by the buyer at the closing of the transaction (along with other closing costs) before the remaining funds are distributed to the seller.

In most states a real estate agent must be affiliated with or sponsored by a licensed real estate broker or real estate brokerage firm. A real estate broker is generally required to have a certain amount of experience as an agent in the real estate industry and must meet additional licensing requirements to own a brokerage firm and handle escrow accounts and earnest money deposits.

A real estate agent will typically split the agent’s share of the sales commission with the agent’s brokerage firm—although the percentage or amount shared may vary.

In Oklahoma, real estate agents are licensed professionals who facilitate the buying, selling, and leasing of real estate properties. They represent and assist both buyers and sellers, and may also serve as rental agents. Real estate agents in Oklahoma must operate under a licensed real estate broker or brokerage firm, as they are not authorized to handle transactions independently. The broker oversees the agent's work and ensures compliance with real estate laws and regulations. Agents typically earn income through commissions, which are a percentage of the property's sale price, and these commissions are usually shared between the seller's and buyer's agents. The commission is often paid at closing, where it is deducted from the buyer's payment before the remaining funds are given to the seller. To use the title Realtor®, an agent must be a member of the National Association of Realtors®, adhering to its code of ethics. Real estate brokers have additional experience and licensing requirements, which allow them to manage a brokerage firm and handle escrow accounts and earnest money deposits. The split of the commission between the agent and their brokerage firm varies and is subject to their agreement.