New To Real Estate - Use The BiggerPockets Glossary!

102 Replies

@Bekkah Vidal What a great idea! I wish I had this years ago. This is a very valuable resource. Are you taking suggestions for more entries that are not currently in the glossary?

Yes! We are working on building a feature where you can request it on the page but for now feel free to post terms here you would like defined or you can DM me a list of terms you think would be useful! 

That's great!

I know a bunch of licensed professionals of various types work at bp, are you going to give any of them a chance to go through the glossary and give it a "well, technically, for this to be true..." type treatment? 

Super obvious example -->

"Realtor: A person who acts as an agent for the sale and purchase of buildings and land; a real estate agent."

Lots of real estate agents are not Realtors, and will not show you 10 different houses this weekend (or any at all). Myself being an example. 

Further, there are lots of real estate agents who "act as an agent for the sale and purchase of buildings and land" who are not Realtors, many commercial real estate agents for example. 

All squares are rectangles, but not all rectangles are squares. This is one of those.

"Realtor" means you are part of a private sector trade group. Real estate agent is a state gov't license. 

Oh wow. I didn't even know this existed. Thank you! We should all continue learning no matter how much experience we have in the game. 

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