Term
|
Definition
Acts as a point of contact between two or more people in negotiating the sale, purchase, or rental of property. Licensed to buy, sell, exchange or lease real property for others and to charge a fee fore these services. |
|
|
Term
|
Definition
The business of bringing people together in a real estate transaction. |
|
|
Term
|
Definition
The process of estimating a property's market value, based on established methods and the appraiser's professional judgment. Also refers to the report that sets forth the process of estimation and conclusion of value. |
|
|
Term
|
Definition
The range of functions concerned with looking after a building, including collection of rents, payment of outgoing, maintenance, including repair, provision of services, insurance and supervision of staff employed for services, together with negotiations with tenants and prospective tenants. |
|
|
Term
|
Definition
The business of providing the funds that make real estate transactions possible.
The act of poviding funds for business activities, making purchases, or investing. |
|
|
Term
Subdivision and Development |
|
Definition
The act of breaking up a property into smaller parcels along with making improvements on the land such as adding water and sewer lines, building homes and so forth. |
|
|
Term
|
Definition
A thorough inspection that evaluates the structural and mechanical conditions of a property. |
|
|
Term
|
Definition
Involves providing clients with competent independent advice based on sound professional judgement. In real estate this could mean helping clients choose amoung the various alternatives involved in purchasing using or investing in property. |
|
|
Term
|
Definition
The relationship describing the amount of product available within a market, and the amount of consumers competing for said product. |
|
|
Term
|
Definition
Property used for single-family, or multifamily housing, whether in urban, suburban or rural areas. Includes co-ops, condominiums, apartments, townhomes, and single family homes. |
|
|
Term
|
Definition
Business property, including office space, shopping centers, stores, theaters, hotels, and parking facilities. |
|
|
Term
|
Definition
Warehouses, factories, land in industrial districts, and power plants. |
|
|
Term
|
Definition
Farms, timberland, ranches, orchards, basically any place where you grow stuff for human use or consumption. |
|
|
Term
|
Definition
Churches, schools, cemetaries and government held lands.
|
|
|
Term
|
Definition
Group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product. |
|
|
Term
|
Definition
In real estate, conducts brokerage activities on behalf of the broker. |
|
|