Compensation

Definition of "Compensation"

Money and nonmonetary consideration given to employees for work performed. The reward will typically be increased the better the job is done. Salary and fringe benefits are a major cost of a business so the amount paid must be within the financial abilities of the entity. Compensation depends on union contract and must not violate any laws.

Search Real Estate Glossary

Related Real Estate Glossary terms

Financing Statement

Same as term financial statement : Report containing financial information about a business or indi ...

Channeling

Hospital insurance program that provides medical professional liability insurance coverage to non em ...

Loading

Addition to the pure cost of insurance that reflects agent commissions, premium taxes, administrativ ...

Combination Agent

Representative of an insurance company who sells ordinary and industrial life insurance policies. In ...

Guaranteed Payment Loan

An assurance a loan's financial obligation will be secured by a third party. ...

Primary Residence

The house in which the borrower will live most of the time, as distinct from a second home or an in ...

Related Real Estate FAQ

What Does Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

What Is Earnest Money?

Earnest money is a deposit you make when you make an offer on a house. ...

What Is A Negative Amortization?

A negative amortization is a type of loan situation that occurs when the monthly payments do not cov ...

Should I Pay Extra Each Month?

This calculator figures how much interest savings you will have depending on how much extra you pay ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or run ...

What Is A Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? Tax Breaks for the First Time Home Buyer Should you Buy a Home with Cash? Build or Buy? That’s the Big Question Foreclosure - The Pros and Cons of Buying

FAQ

What does an appraisal mean? What is a housing ratio? What is a survey? How Much Income Do I Need ? What is a mortgage broker?