Internet Glossary for Real Estate Agents
A
Appraisal: An evaluation of a property’s value, often conducted by a professional appraiser, based on factors such as recent sales, location, size, and condition.
As-is: A term indicating that a property is being sold in its current condition, with no guarantees or repairs provided by the seller.
B
Broker: A licensed individual or firm that arranges transactions between buyers and sellers for a commission when the deal is executed.
Buyer’s Agent: A real estate agent who represents the interests of the buyer in a transaction.
C
CMA (Comparative Market Analysis): An evaluation of similar, recently sold homes (called comparables) to help determine a realistic listing price.
Closing Costs: Expenses over and above the price of the property in a real estate transaction. They include things like taxes, insurance, and lender fees.
Commission: A fee paid to a real estate agent for their services, typically a percentage of the property’s sale price.
D
Dual Agency:…
