Common Real Estate Terms
Although the real estate market represents more than 70% of the peoples’ wealth, the real
estate terms are misunderstood by the public and even by specialists unfortunately. For
example, there are many economists and those who work in media field do not know what the
differences are between "a broker,'' "a property developer," and "a real estate marketer." They
would, metaphorically, use the term « Real estate agent » for everything above, in spite of the
big difference between their specialties.
Through monitoring the Arabian real estate, Imtilak real estate noticed that there is a weakness
in the awareness of real estate terms, so this article comes up to correct understanding of the
most common real estate terms.
1. (The client, customer, or buyer): That would be the person or the entity who wants to
purchase, has the ability to pay the property allowance, and has the ability to make a decision.
2. (Real Estate Marketing): It is a science by its own that studies the current and future needs
and desires of the customers to own a property, and we manage to achieve that for an
acceptable profit to the company. All that shall be done throughout researching, investigating,
and knowing the customers desires and ambitions.
3. (Property Investment): It means the process of making and developing money in real estates
and that would be, either by renting a home which guarantees a fixed monthly return, or by
buying a home and selling it after a period of time in an acceptable increased profits.
4. (Property Development): It means the process carried out by individuals or companies in
order to develop and improve neglected or old real estate units to take advantage of their
location, or to raise their investment value.
5. (Mortgages): They mean the financial loans that would allow the borrower, be that either an
individual or institution, to buy an apartment or any other property, and his ownership to this
property is a guarantee for the loan, in other words, the property remains conditional until the
loan is paid off.
6. (Real Estate Swap): It means buying a property with a property, with valued bonds, or with a
property and money.