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
Cement or mortar with a high moisture content developing it into a slurry solution allowing the ability to be poured or pumped into crevices, fissures, and masonry cracks and joints. ...
Main structural support beam. A girder is made of steel, reinforced concrete, or timber. It is designed to support loads at different points along its length. ...
Standard days when an organization is open and conducts business. Business days exclude weekends and holidays. ...
Date of the valuation of property, usually contained in a report. ...
The American Planning Association, also known as APA, is a nonprofit professional organization representing the US’s urban planning field. The APA provides extensive educational ...
In an electrical system, the connection box where all the circuit systems are installed with a series of electrical breakers. The major distribution or collection duct in an ...
Real property usable in a trade or business. Such as, the property on a which retail store, hotel, or office building are located. ...
The rate at which a market can absorb additional units of supply without causing market saturation and severe price distortions. For example, during a recessionary period, many homeowners ...
Visible area that can be readily seen by outside traffic. This is particularly important for a commercial business. ...
Have a question or comment?
We're here to help.