Relocation Network
Definition of "Relocation network"
Nationwide group of independent real estate brokers who cooperate together and share information regarding clients who are seeking to relocate from one area of the country to another. The broker involved in the relocation networking will contact a cooperating broker in the area to which the client is seeking to relocate to assist in locating a new home. If the client purchases real estate thought the cooperating broker in the relocation network, the referring broker earns a percentage of the commission on the purchase.
Popular Real Estate Terms
Ownership rights to the minerals or other precious resources, such as petroleum, in one's property. A property owner having the mineral rights to the property can do one of three things ...
Small navigable body of water having limited water access and egress. Coves are often secluded and acts as a boating anchorage. Concave or cratered corner molding. A hollow cornice. ...
Latin term meaning legal capacity to act on behalf of oneself. ...
A fully amortized mortgage necessitating periodic payments of both interest and principal. In the early years of the loan, the share of principal is smaller and the interest larger, a ...
The appraisal approach is used to estimate the value of an asset, based on various factors to reach the closest educated guess of the asset. While an appraisal approach does consider the ...
Mock closing; all information is available prior to an actual closing in order to insure all documents are properly executed by the appropriate parties. A preclosing is normally used only ...
Contractor who constructs new roofs or repair old ones. ...
A corporation that owns housing units and whose tenants purchase shares in the corporation equivalent to the value of their housing unit. Also called co-ops. ...
A cooperating broker or agent defines a real estate broker who helps another broker in a private property transaction. Typically, the cooperating broker represents the seller and is ...
Have a question or comment?
We're here to help.