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Assessor's parcel number. An assessor's parcel number, or APN, is a number assigned to parcels of real property by the tax assessor of a particular jurisdiction for purposes of identification and record-keeping. The assigned number is unique within the particular jurisdiction, and may conform to certain formatting standards that convey basic ...
Multiple listing service. A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
The National Association of Realtors (NAR) is an American trade association [4] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [5] making it the largest trade association in the United States [6] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
An Internet Data Exchange ( IDX, also known as Information Data Exchange[ 1]) refers to the agreement between listing (Selling) Agents or Brokers and Buyers' Agents to display Multiple Listing Service properties online, across multiple websites (via Real Estate Syndication where the listing Agent/Broker allows a listing to be Syndicated).
Accession has different definitions depending upon its application. Accession in property law is a mode of acquiring property that involves the addition of value to the property through labour or the addition of new materials. For example, a person who owns a property on a river delta also takes ownership of any additional land that builds up ...
Common area. A common area is, in real estate or real property law, the "area which is available for use by more than one person..." [1] The common areas are those that are available for common use by all tenants, (or) groups of tenants and their invitees. [2][3] In Texas and other parts of the United States, it is "An area inside a housing ...
WAULT. WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties. It is one of the many key performance indicators (KPIs) used in the field. A WAULT is the product of currently contracted rental ...
Certified Property Manager (CPM) is a real estate professional designation awarded by the Institute of Real Estate Management (IREM) [ 1] and recognized by the National Association of Realtors (NAR). The Institute offers a comprehensive program developed exclusively for property and asset managers working with different size portfolios of all ...