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
Raised concrete border constructed along a street or a sidewalk. A curb prevents vehicle from going on the adjacent property and sidewalks as well as directing runoff into storm drains. ...
In real estate terms, many consider having corner influence an extra financial advantage when it comes to transactions in most cases. Usually, enjoying a corner influence brings an ...
Increased satisfaction a buyer obtains from the purchasing an additional unit of a good, service, or property. ...
Something that is illegal. An example is an unenforceable debt because it has exceeded the statute of limitations. ...
The term statute is a written law that is adopted by a legislative body from the country, federal, state, county, or city level. The statute definition can be a legislative written decree ...
Home loans backed by the Veterans Administration. The veterans Administration issues a 60% loan guaranty for a sum not to exceed $27,500. The mortgaged home must be a principal residence. ...
(1) Individual or business that is engaged to do some sort of construction work for another for a fee. There are basically three types of contracting: A general contractor enters into a ...
Land surveying measurement that is 16.5 feet in length, or 5 1/2 yards. A perch is also called a rod or a pole. Today the term perch is seldom used. It is found in old deeds, surveys, and ...
A saving bank owned by its depositors. They are mostly located in the northwestern United States and are an important supplier of real estate financing. All mutual savings banks are state ...
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