If you are new to BiggerPockets and Real Estate Investing, you might feel a little lost when it comes to all the REI terms that are thrown around in the Forums. Be sure to bookmark our Glossary where you can easily look up terms and their definitions!
@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!
@Bekkah Vidal Thanks for this information! It is definitely a valuable resource as I begin as a new real estate investor and helps to make myself valuable to clients as a real estate agent.
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.
@Chris Mason just entering my 2nd year as a Realtor and investor. I appreciate the distinction you made. I did not understand the great difference until I became a professional in the industry, which led me to go a step further and join NAR.