Real Estate Glossary
From 'Abstract of Title' to 'Walk-up', the arcana of real estate explained.
Browse alphabetically by choosing a letter from the list below.
| E |
| Term | Description | | EIK: | The acronym used to describe an Eat-In-Kitchen. | | En Suite Bathroom: | French term literally meaning together. In the realtors lexicon, this term refers to a bathroom that is one with the adjoining bedroom. In other words, one does not have to leave his/her bedroom in order to go to the bathroom. This type of setup is most common with Master Bedrooms. | | Escrow: | The procedure of placing money in an account where neither buyer nor seller can access the money without the consent of an escrow agent | | Exclusive Listing: | An exclusive listing is a listing promoted by a single broker for which he/she has been hired by an owner to market his/her apartment. In an exclusive right-to-sell arrangement, the individual broker has the right to earn a commission in the event that the property sells during the term of the exclusive. This type of arrangement precludes the owner of the apartment from selling the property on his/her own. Under the terms of an exclusive, the broker has the fiduciary responsibility to market the property to other brokers. The exclusive broker is accountable to the owner of the property and is responsible for seeing the transaction through its conclusion. The other type of exclusive is an exclusive agency. The only difference between an exclusive right-to-sell and an exclusive agency is that in an exclusive agency arrangement, the owner can sell his/her property on their own and exclude the broker from any commission. |
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