Definition: the person whose efforts are the cause of an executed sale contract, regardless of who actually writes the contract Pronunciation: \prə-ˈkyu̇r, prō-\ Used in a Sentence: To be a procuring cause, the broker must have started the chain of events that resulted ..
Category : P
Definition: a business corporation consisting of one or more individuals engaged in a primary business that provides a professional service (e.g., lawyer, doctor) Pronunciation: \prə-ˈfesh-nəl\ \ə-ˌsō-sē-ˈā-shən\ Used in a Sentence: Florida law requires that a professional corporation includes the words “professional association” or the abbreviation “PA” in..
Definition: a member of the FREC that holds either an active broker license or an active sales associate license Pronunciation: \prə-ˈfesh-nəl\ \ˈmem-bər\ Used in a Sentence: The broker from our agency was a member of the F..
Definition: money that is made in a business after all the costs and expenses are paid Pronunciation: \ˈprä-fət\ Used in a Sentence: The company made a profit ..
Definition: a principal of appraisal that states that the value of an inferior property is enhanced by its association with superior properties of the same type Pronunciation: \prə-ˈgre-shən\ Used in a..
Definition: a written promise to pay a certain sum of money to another at a future specified time Pronunciation: \ˈprä-mə-ˌsȯr-ē\\ˈnōt\ Used in a Sentence: A broker must disclose to the seller if a prospective buyer’s offer is in the form of a promis..
Definition: the formal act of announcing a statute or an administrative rule Pronunciation: \ˈprä-məl-ˌgāt\ Used in a Sentence: The FREC may promulgate rules and re..
Definition: the rights or interests a person has in the thing owned but not, technically, the thing itself: bundle of rights including the right to possess, to use, to encumber, to transfer and to exclude. Pronunciation: \ˈprä-pər-tē\ Used in a Sentence: The two basic types of property are real property and personal..
Definition: a person who manages properties for various owners Pronunciation: \ˈprä-pər-tē\ \ˈma-ni-jər\ Used in a Sentence: A property manager is responsible for maintaining the property and managing the..
Definition: the area of the real estate profession that pertains to the leasing, managing, marketing and overall maintenance of the property of others Pronunciation: \ˈprä-pər-tē\ \ˈma-nij-mənt\ Used in a Sentence: The owner hired a property management firm to take care of his propertie..