Real Estate Glossary

Real Estate Terms, Explained

We’re proud to launch our brand new Real Estate Glossary! It takes the confusing and confounding terms of real estate and gives them easy-to-understand, real world explanations. At least that’s our intent! Think we could do a better job? Know of a term we should add to the real estate glossary? LET US KNOW!   Seriously, please leave a comment with your input – thanks in advance!

Our Real Estate Glossary

We’ve broken it down here into four categories: Real Estate PeopleSearching for and Marketing the Home, the Offer & Due Diligence, and Closing. Or use the search bar. Or just browse. Have fun!

Real Estate People

Closing Agent

Designated Broker

Listing Agent

Managing Broker

Real Estate Agent (aka Real Estate Broker, aka Realtor)

Selling Agent

Title Insurance

Title Officer

Searching for and Marketing the Home

Comps (or Comparables)

Comparative Market Analysis (CMA)

Covenants, Conditions, and Restrictions (CC&Rs)

Multiple Listing Service (or MLS)

Pre-Approval Letter

Pre-MLS Listing

Pocket Listing

Offer & Due Diligence

Offer

Offer Expiration Date

Contract

Contingency

Earnest Money

Escrow

Financing Contingency

Preliminary Title Report (or Title Commitment)

Title Contingency

Inspection Contingency

Due Diligence

Legal Description

Closing

Closing

Closing Agent

Closing Costs

Prepaids

Quit Claim Deed

Selling Office Commission (or SOC)

Settlement Statement

Title Insurance

Warranty Deed