New York real estate glossary
Know the term. Understand the rule.
Search 189 exam terms from all 19 New York salesperson curriculum subjects. Every definition opens into a sourced guide with an exam cue, a practical example and the distinction students often miss.
How to use this glossary
Read the short definition first. Then open the term for the exam pattern, New York example and common mix-up.
Filter by topic All 19 topics
189 terms
Showing 37 to 54
C
Real estate math
Commission
Compensation paid for brokerage services under an agreement.
Open term guideCondominiums and cooperatives
Common charges
Amounts assessed against condominium unit owners for common expenses under the governing documents and budget.
Open term guideCondominiums and cooperatives
Common elements
The parts of a condominium property owned collectively by unit owners rather than as part of one unit.
Open term guideValuation
Comparable
A property used as market evidence because it is sufficiently similar to the property being analyzed.
Open term guideValuation
Comparative market analysis
A broker's analysis of relevant market data to help a seller or buyer consider a probable price range.
Open term guideCondominiums and cooperatives
Condominium
A form of ownership in which a person owns an individual unit and an undivided interest in common elements.
Open term guideCondominiums and cooperatives
Condop
A property structure that combines a condominium framework with a cooperative component, often through separately owned condominium units.
Open term guideMunicipal government
Conservation advisory council
A local advisory body that may inventory natural resources and advise officials on environmental matters.
Open term guideContracts and leases
Consideration
Something of legal value exchanged as part of a contract.
Open term guideContracts and leases
Contingency
A contract condition that must be satisfied or waived for a stated obligation to become final or continue.
Open term guideLicense law
Conversion
Wrongful exercise of control over another person's money or property that seriously interferes with that person's rights.
Open term guideCondominiums and cooperatives
Cooperative
A housing arrangement in which a corporation owns the real property and occupants own shares tied to proprietary leases.
Open term guideValuation
Cost approach
A valuation approach that adds land value to the depreciated cost of the improvements.
Open term guideContracts and leases
Counteroffer
A response that rejects an offer and proposes different terms.
Open term guideMunicipal government
County clerk
The county official or office that maintains specified public records, including land records recorded for property in the county.
Open term guideAgency
Customer
A person who receives services from a licensee but is not represented by that licensee as an agent.
Open term guide