Real Estate (Level 1)

Real Estate Brokerage

The businesses of overseeing, consummating, and completing real estate transactions and business by bringing together the parties to a transaction

Real Estate Specialties

Seller’s Market

Seller's markets favor the seller. When you are in a seller’s market, the challenge is to make sure your buyer can get an offer accepted on a home without having to pay too much above the listing price.

Buyer’s Market

Buyer's markets favor the buyer. Sales prices are usually more negotiable for buyers in a buyer's market because the real estate supply is high

Broker

The name for a person who runs a brokerage

Brokerage

The physical building where brokers and their sales associates work; they are responsible for sales, leasing, counseling clients/customers, property management, value & financing, and development/construction

Business Broker

A broker who specializes in selling businesses in Florida

Business Opportunity

A real estate transaction involving a business that already exists and includes both tangible and intangible assets

Farm Area (target market)

A specific area a real estate associate chooses to specialize and become an expert in; aka target market

Follow-Up

The contact a sales associate makes with a buyer or seller after closing a real estate transaction

Multiple Listing Service (MLS)

A database in which local member brokers share listings so that fellow member brokers can procure buyers for those properties

Special-Purpose Property

A property created with a special, and often limited, purpose in mind

Community Association Manager (CAM)

A type of property manager that manages a community association for properties like condos, co-ops, timeshares, manufactured housing parks, & PUDs

Property Management

The vocation of renting or leasing someone else's real property on their behalf in exchange for compensation and in accordance with a property management employee contract

Property Manager

Someone who is hired by a property owner to market, maintain, and oversee the day-to-day operation of a property (usually a rental property)

Absentee Owner

A property owner who does not occupy the property in question and therefore often utilizes a property manager’s services