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The National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
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Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties.
Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...
Real estate economics is the application of economic techniques to real estate markets. It aims to describe and predict economic patterns of supply and demand . The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the business ...
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
The National Association of Real Estate Brokers (NAREB) is a real estate trade organisation that was established on July 29, 1947. NAREB was created by African-American real estate professionals as an alternative space for African-Americans who were racially and specifically excluded from the National Association of Realtors .