A gain that has occurred financially but isn't necessary taxable due to a tax-free exchange.
Realized profit or loss
Reported in the income statement for tax purposes, it's the taxable profit or loss resulting from a sale.
Realtist
Member of the National Association of Real Estate Brokers, Inc.
Realtor
Designation for an agent or broker who is a member of the National Association of Realtors and subscribes to a strict code of ethics.
Realtor-associate
Licensed salesperson, not a broker, who is a member of the National Association of Realtors.
Realtor-national marketing institute (rnmi)
An affiliate of the National Association of Realtors, which produces educational programs and literature for its member. Publications include, Real Estate Today and Real Estate Perspectives.
Realty
Land and anything permanently affixed to it, such as buildings.
Ream
To widen or smooth a hole.
Reamed and drifted (r&d)
Pipe commonly used in water wells having a special, heavy-duty coupling and a guaranteed I.D. clearance.
Reamer
A grinding tool used to level or remove burrs from valve seats in faucets so that the valve stem will fit properly.
