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POCKET LISTING A listing which is retained by the listing broker or salesperson, who does not make it available to other brokers in the office or to other Multiple Listing Service members. LISTING A written employment agreement between a property owner and a broker authorizing the broker to find a buyer or a tenant for a certain real property. GOOD WILL An intangible, salable asset arising from the reputation of a business. PLAT A map or a town, section, or subdivision indicating the location and boundaries of individual properties. HOTEL A building or group of attached or detached buildings containing dwelling or lodging units in which 50 percent or more of the units are lodging units, usually distinguished by a front desk, dining and other common facilities. DEED Legal document by which title to real property is transferred from one owner to another. The deed contains a description of the property, and is signed, witnessed, and delivered to the buyer at closing. PREPAYMENT Full or partial repayment of the principal before the contractual due date. |
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