Real Estate Commission
Definition of "Real estate commission"
- Amount a manger of real estate receives for his efforts. For example, a manger is to receive 2% of rentals collected as compensation from the landlord to manage the property. If the rentals received in a given month are $1,000,000, the manager's commission is $20,000.
- Amount received by a real estate salesperson when a property is sold. For example, if the commission rate is %% and the home is sold for $500,000, the commission would be $25,000.
- Governmental agency that enforces legal statues in connection with real estate transactions.
Popular Real Estate Terms
The escrow fee is basically how the escrow agent or manager get his/her compensation for assisting and handling both the parties and the funds involved in escrow. In real estate, the ...
If you live anywhere else besides Houston, TX, in the US, you probably heard of zoning ordinances. The reason for that is the city of Houston Texas is the only city that doesn’t use ...
(1) Bracket used to support an extended eave or cornice on the outside of a house. (2) Truss or beam projection beyond its base and supported by its strength and rigidity, such as a ...
Statement made verbally. It is better legally to have a written statement because verbal ones without witnesses may be denied. ...
Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
Refurbishing or rebuilding a property, such as a house, back to its original or earlier condition. ...
Restraining a person or business from denying an appropriate conveyance of property evidenced by a deed has given. ...
The term after-tax rate of return calculates an investor’s net return after income taxes. The calculation is used by many businesses and investors to determine their real earnings. ...
Creates a lien against the mortgagor's property, but does not permit a lien against his or her personal assets. See also non recourse. ...
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