Buyer's Agent

Beginner 🏠 Real Estate

Definition

The agent who represents you as the buyer, though technically the broker still wants you to overpay.

Example Usage

Our buyer's agent negotiated an additional $3K in seller concessions.

Origin

Formalized broker role in modern real estate practices

Fun Fact

Buyer's agents are typically paid by commission from the seller's side of the transaction.

Source: Real estate industry terminology

Related Terms

Beginner

subject to inspection

The escape hatch in every smart buyer's offer—a contingency allowing them to back out or renegotiate if the inspection reveals the house is held together by hope and termites. It's the 'just kidding' clause of real estate.

🏠 Real Estate
Intermediate

segregation

The practice of separating people or things, which can range from voluntary self-sorting to legally enforced discrimination that stains history books. In genetics, it's the boring-but-important Mendelian process where parent organisms pass only one allele to offspring. Real estate agents know it as that uncomfortable topic from the industry's shameful past that fair housing laws were created to combat.

🏠 Real Estate
Beginner

vacancy rate

The percentage of rentable space sitting empty and generating zero income, serving as a referendum on your property's appeal and your pricing strategy. Low is good; high means you're bleeding money.

🏠 Real Estate
Advanced

habendum clause

The deed section beginning with 'to have and to hold' that defines the extent of ownership being conveyed. Medieval legal poetry that survived into modern contracts for no good reason.

🏠 Real Estate
Intermediate

GRM (Gross Rent Multiplier)

Property price divided by annual rental income, a quick valuation metric for income-producing properties.

🏠 Real Estate
Intermediate

cloud on title

Any claim, lien, or encumbrance that impairs the property's title and creates doubt about legal ownership. Like a stain on your property's permanent record that needs bleaching before you can sell.

🏠 Real Estate

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