Real Estate Glossary and Terms
Realty Terms beginning with R
Real Estate Agent
An individual who is licensed to represent a buyer or a seller of real estate in a sales transaction. Real estate agents typically work on commission.
Real Estate Attorney
An attorney or lawyer who specializes in real estate transactions. This includes dealing with property tax issues and the transfer of land and buildings.
Real Estate Broker
An individual who is licensed to represent a buyer or a seller of real estate and collects commissions for the work. Most brokers have agents working for them and they collect a portion of those commissions in exchange for providing office space, marketing, and other overhead.
To pay in full and discharge a mortgage with the proceeds of a new mortgage.
The price or dollar amount that a property owner is able to negotiate when selling an existing home or property.