Real Estate in Turkey Common Real Estate Terms | Page 2

7. (Valuation): It means determining the price of the real estate unit for the purpose of selling or
otherwise.
8. (Property Management): there are many investors who have administrative or residential
buildings, yet may not have the time or expertise to manage the daily operations of these
buildings, so they assign the mission to an excellent real estate broker.
9. (Sale on Credit): It means the ownership of a property is transferred in exchange for a cash
amount paid to the seller and that would be after a period of time agreed upon.
10. (Broker): This means the person who makes the buyer known to the seller in order to get a
financial commission without having a license from the Property Brokerage License.
11. (Real Estate Broker): This means a person who is participating in making the buyer known to
the seller and getting a commission for that. Yet, the Real Estate Broker has a license from the
Property Brokerage License.
12. (Real Estate Agent): This means a real estate broker who passed an advanced and specialized
course in real estate marketing and then received a license for that, on the other hand, he
concluded agreements via legal contracts with construction real estate companies to market its
products exclusively through him. (This definition literally represents Imtilak real estate, we are
real estate agents).
13. (Seller or owner): This means a person or a construction company that wants to transfer
his\its ownership of a property in exchange for cash, barter, or both.
14. (Real estate consultant): This means a person who provides consulting services to individuals
and companies in the real estate investment or purchase.
15. (Commission): This means the fees charged by the real estate broker for the services he
provides to both the buyer and the seller. Commission is set as a percentage of the transaction
value.