Real Estate Terms R

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Ranch House - A  single-story, low-roof house style that became popular in the western part of the United States.

realtorRealtor® - A licensed real estate agent or broker that is a member of the National Association of Realtors.  Realtors have access to the MLS, all listings and subscribe to a higher code of ethics.

realtor association certified executiveRealtor Association Certified Executive (RCE) - A NAR (National Association of Realtors) awarded to account executives with specialized industry knowledge as well as their experience, association and academic achievements.

REO - Real Estate Owned. Refers to a bank owned property.

residential accredited appraiserResidential Accredited Appraiser (RAA) - A NAR (National Association of Realtors) accreditation that signifys a level of appraisal knowledge and experience that exceeds state requirements.

Reservation of Interest (ROI) - Formal reservation of a unit(s) or other preconstruction project, usually accompanied by a deposit.

resort and second home property specialistResort and Second Home Property Specialist (RSPS) - A NAR (National Association of Realtors) awarded to realtors who have completed the two core classes required as well as two related elective courses. The certification signifys a specialty in vacation or retirement property.  Unlike some of the other NAR designations, there are no experience requirements.

Return on Investment (ROI) - The amount of profit made, if any, on an investment property.

Right of  First Refusal - An agreement that gives a person or entity the first opportunity to purchase or lease a property before it would be offered to others.

Real Estate Terms