Definition: A person who is qualified to be issued a broker’s license but who operates as a sales associate in the employ of another. Pronunciation: \ˈbrō-kər\\ə-ˈsō-shē-ˌāt, -sē-\ Used in a Sentence: The broker associate helped us to sell ..
Definition: A formal (written) opinion of value for a property determined by a broker. Additional Information: Usually used for distressed properties such as short sales. Pronunciation: ˈbrōkərs prīs əˈpinyən Used in a Sentence: The lender would like a BPO of the property in..
Definition: A strip of land that separates one land use from another. Pronunciation: \ˈbə-fər\ Used in a Sentence: There was a large buffer zone separating the t..
Definition: Government regulations controlling construction practices and materials. Pronunciation: \ˈbil-diŋ\ Used in a Sentence: The inspector checked to make sure the construction conformed to the build..
Definition: An ownership theory describing all the legal rights that attach to the ownership of real property, including disposition, enjoyment, exclusion, possession and control. Pronunciation: \ˈbən-dəl\ \ˈlē-gəl\ Used in a Sentence: The right to sell our property is covered by the bundle of leg..
Definition: A broker that specializes in the sale or lease of a business or business opportunity. Pronunciation: ˈbiznəs ˈbrōkər Used in a Sentence: We are going to hire a business broker to find a buyer for our..
Definition: A business for sale. Pronunciation: ˈbiznəs ˌäpərˈt(y)o͞onədē Used in a Sentence: We are looking for a broker that specializes in business oppo..
Definition: A business entity formed by any number of persons who make an investment at a stipulated amount per unit. The monies collected in this manner are then used to buy, develop and/or sell real estate. Pronunciation: \ˈbiz-nəs, -nəz,\ Used in a Sentence: The large apartment complex was bought by a busin..
Definition: A financing method in which points are paid by the seller or developer that lowers (buys down) the effective interest rate paid by the buyer/borrower, therefore reducing the amount of the monthly payment for a set period of time Pronunciation: Used in a Sentence: In order to have lower payments, the buyer decided to ..
Definition: An employment contract with a buyer. Pronunciation: \ˈbī(-ə)r\ \ˈbrō-k(ə-)rij\ \ə-ˈgrē-mənt\ Used in a Sentence: The prospective buyer signed a buyer’s brokerage agreement with ..