Conversion.

Last updated 08-20-2026

California Department of Real Estate

Updated 08-20-2026

Conversion.

COMMISSION — An agent’s compensation for performing the duties of the agency; in real estate practice, a COMMITMENT — A pledge or a promise or firm agreement to do something in the future, such as a loan company giving a written commitment with specific terms of mortgage loan it will make.

California Department of Real Estate Glossary

California Department of Real Estate · p. 7

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