In order to be able to talk to real estate brokers and attorneys, you should familiarize yourself with some common real estate terms:
1. Appraisal: a written report by a state-licensed professional that includes an unbiased analysis of the property’s value and the reasoning that led to that opinion.
2. Broker: an agent who brings together a buyer and a seller, or a landlord and a tenant, in a real estate transaction.
3. Build-to-suit: a method of leasing property in which the landlord makes improvements to a space based on the tenant’s specifications.
4. Concessions: benefits or discounts given by the seller or landlord of a property to help close a sale or lease.
5. Escalation clause: a clause in a lease that allows the landlord to increase rent in the future.