Quid Pro Quo
Definition of "Quid pro quo"
- Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of property.
- A business agreement whereby a real estate firm will provide business, typically referrals, to another company in exchange for receiving a service such as research of the real estate market.
Popular Real Estate Terms
Measure of land representing one square mile. A section equals 640 acres. ...
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Timber wood situated on the exteriors of a loading deck to safeguard it from damage resulting when trucks unload and load. ...
Limited partnership in which limited partners rely on the general partner to choose specific properties after the funds are available. ...
A detailed list of property. The goods of a business, such as houses by a builder. ...
List of business property. ...
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Interest rate on an adjustable rate mortgage based on the total of the current value of an index and margin applicable to the mortgage. The rate is the basis for the computation of monthly ...
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