Rental income, received from property, which exceeds the costs of owning and maintaining the property.
Exchange
Reciprocal transfer of property from one entity to another. Alternately, a market for securities, such as the New York Stock Exchange (NYSE).
Excitation
The power required to energize the magnetic field of a generator.
Exclusionary zoning
Property zoning which has the net effect, intended or not, of excluding the poor and minority groups from living in a particular area. Large property size requirements are often responsible exclusionary zoning.
Exclusive agency
Employment of a particular broker. If a sale by another broker is accepted, both are entitled to commissions.
Exclusive buyer's agent (eba)
An agent or company, which works exclusively for buyers. They do not represent sellers or list properties.
Exclusive listing
Contract which gives one agent the exclusive right to market a particular property for a set period of time.
Exclusive right to sell
Contract with a real estate agent that pays a commission to the agent even if the property is sold to a buyer found by the owner.
Exculpatory clause
A provision in a mortgage, which allows the borrower to surrender the property to the lender without personal liability for the loan.
Execute
To sign, complete, perform and carryout all the terms of a contract including signing the contract and delivering it to the proper party.
