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 term developer’s profit is the actual profit generated by a developer’s project after the costs of the development have been covered. This profit can come from the sale of ...
Method of selling and obtains possession, but the seller retains the title. ...
Undeniably, some terms can make your head spin if you dive into real estate for the first time. Today, we’re breaking down a key term: Realtor Associate. It sounds official, ...
Sections of a homeowner policy. Section I relates to the home, contents, and accompanying structures. Section II provides comprehensive coverage for personal liability and the medical ...
To understand what liquidity risk entails, first, we must investigate what liquidity means. On the one hand, it refers to an individual or company’s capacity to meet debts without ...
Occupant's right in a structure to see out of the window without being hindered. For example, if someone wants to construct an office building adjacent to a home that will significantly ...
Cash earnings generated from a real estate investment or property. Cash earnings equals cash revenue less cash expense. The cash earnings may or may not be discounted to its present value ...
(1) Method of measurement lumber using the board foot cubic measure. The board measure is used to estimate quantities and prices of lumber materials. (2) Method of estimating lumber ...
Process of simultaneously appraising several pieces of property. Normally, occurs when a local government conducts a reassessment. ...
Have a question or comment?
We're here to help.