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Multiple listing service. A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
The National Association of Realtors (NAR) is an American trade association [4] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [5] making it the largest trade association in the United States [6] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser.A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
e. The term Fourth Estate or fourth power refers to the press and news media both in explicit capacity of advocacy and implicit ability to frame political issues. [1] The derivation of the term arises from the traditional European concept of the three estates of the realm: the clergy, the nobility, and the commoners.
The Fifth Estate is a socio-cultural reference to groupings of outlier viewpoints in contemporary society, and is most associated with bloggers, journalists publishing in non-mainstream media outlets, and the social media or "social license". The "Fifth" Estate extends the sequence of the three classical Estates of the Realm, nobility, clergy ...
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) is transferred between two or more parties, e.g. in case of conveyance one party being the seller (s) and the other being the buyer (s). It can often be quite complicated due to the complexity of the property rights being transferred, the ...
Business broker. Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of privately held businesses in the buying and selling process. They typically estimate the value of the business; advertise it for sale with or without disclosing its identity; handle the initial potential buyer interviews ...