Dictionary

Definition:   money that is made in a business after all the costs and expenses are paid Pronunciation:   \ˈprä-fət\ Used in a Sentence:   The company made a profit this year.

Definition:   a member of the FREC that holds either an active broker license or an active sales associate license Pronunciation:   \prə-ˈfesh-nəl\ \ˈmem-bər\ Used in a Sentence:    The broker from...

Definition:   a business corporation consisting of one or more individuals engaged in a primary business that provides a professional service (e.g., lawyer, doctor) Pronunciation:    \prə-ˈfesh-nəl...

Definition:   the person whose efforts are the cause of an executed sale contract, regardless of who actually writes the contract Pronunciation:   \prə-ˈkyu̇r, prō-\ Used in a Sentence:    To be a ...

Definition:   an administrative penalty imposed by the FREC that allows the licensee to continue to practice real estate under the guidance of the FREC Pronunciation:   \prō-ˈbā-shən\ Used in a Sen...

Definition:   reasonable grounds or justification for prosecuting Pronunciation:   \ˈprä-bə-bəl\  \ˈkȯz\ Used in a Sentence:  The investigators determined there was enough probable cause to file a...

Definition:   a special form of insurance used to insure all of the mortgage representing more than 80% of appraised value or purchase price Pronunciation:   \ˈprī-vət\ \ˈmȯr-gij\ \in-ˈshu̇r-ən(t)...

Definition:   an economic law of value; no prudent buyer will pay more for a property than the cost of an equally desirable replacement property Pronunciation:    \ˈprin(t)-s(ə-)pəl\ \ˌsəb-stə-ˈtü-...

Definition:  imaginary line running north and south and intersecting a base line at a definite point, used by surveyors as reference to locate land under the government survey system Pronunciation:...