Dictionary
B
Buyer’s Market
Definition: The inventory of available properties exceeds the demand.
Pronunciation:
Used in a Sentence: We were able to get a better price on the house due to the buyer’s market.
B
Buyer Brokerage Agreement
Definition: An employment contract with a buyer.
Pronunciation: \ˈbī(-ə)r\ \ˈbrō-k(ə-)rij\ \ə-ˈgrē-mənt\
Used in a Sentence: The prospective buyer signed a buyer’s brokerage agreement with the agent.
B
Business Trust (syndicate)
Definition: A business entity formed by any number of persons who make an investment at a stipulated amount per unit. The monies collected in this manner are then used to buy, develop and/or sell real estate.
Pronunciation: \ˈbiz-nəs, -nəz,\
Used in a Sentence: The large apartment complex was bought by a business trust.
B
Bundle Of Legal Rights
Definition: An ownership theory describing all the legal rights that attach to the ownership of real property, including disposition, enjoyment, exclusion, possession and control.
Pronunciation: \ˈbən-dəl\ \ˈlē-gəl\
Used in a Sentence: The right to sell our property is covered by the bundle of legal rights.
B
Building Codes
Definition: Government regulations controlling construction practices and materials.
Pronunciation: \ˈbil-diŋ\
Used in a Sentence: The inspector checked to make sure the construction conformed to the building codes.
B
Buffer Zone
Definition: A strip of land that separates one land use from another.
Pronunciation: \ˈbə-fər\
Used in a Sentence: There was a large buffer zone separating the two houses.
B
Broker Associate
Definition: A person who is qualified to be issued a broker’s license but who operates as a sales associate in the employ of another.
Pronunciation: \ˈbrō-kər\\ə-ˈsō-shē-ˌāt, -sē-\
Used in a Sentence: The broker associate helped us to sell our house.