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| A - D | E - I | J - Q | R - Z |
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| EXCLUSIVE AGENCY AGREEMENT - The agreement between an agent and a vendor establishing an Exclusive Listing. |
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| EXCLUSIVE LISTING - Where only a single agent is appointed to sell or lease a property under an Exclusive Agency Agreement. Under the terms of an Exclusive Agency Agreement, the appointed agent is usually entitled to any commission resulting from a transaction relating to the property, even if it is sold/leased by another agent or the vendor during the term of the agreement. Also known as an Exclusive Agency or a Sole Agency. |
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| FLAT - a self-contained dwelling unit in multi-unit dwellings. Compare to APARTMENT. |
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| FOREIGN INVESTOR REVIEW BOARD (FIRB) - The Board that examines proposals by foreign interests to undertake direct investment in Australia and makes recommendations to the Government under its foreign investment policy. |
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| FITTINGS - Installed items that may be removed from real estate without causing irreparable damage to the land, structure or use of the premises. |
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| FIXED INTEREST RATE - An interest rate that remains unchanged for a set period, for example, for the whole term of the loan or the first year of a loan. |
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| FREEHOLD - Absolute ownership subject to limitations imposed by the state; also known as a fee simple estate. An estate held for perpetuity. |
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| GEARING (LEVERAGE) - Usually expressed as a ratio, a measure of indebtedness, i.e. the extent of borrowings against the equity held by a person or company in an asset. Positive gearing refers to the magnification of financial gain resulting from borrowing when the cost of capital (borrowed) is less than the return on capital and leads to magnification of returns to equity. Negative gearing refers to the same relationships but where the cost of capital exceeds the return on capital. Persons would normally only negative gear in the expectation of positive returns in the future. |
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| GOODS AND SERVICES TAX (GST) - A consumption tax, imposed by the Commonwealth, levied on the provision of goods and services. |
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| HOLDING DEPOSIT - An amount given by a buyer to the estate agent acting for the seller. It shows the buyer's serious commitment to the property and is commonly 10% of the purchase price. |
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| HOUSE - A single, self-contained place of residence detached from other buildings, generally consisting of enclosing walls with a roof to shelter occupants against both climate and intruders. |
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| INFLATION - An increase in the amount of money or credit available in relation to the amount of goods or services available, which causes an increase in the general price level of goods and services. Over time, inflation reduces the purchasing power of a dollar, making it worth less. |
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| INTEREST - The payment made by a borrower to a lender in return for the loan of money, in addition to the principal repayments. |
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| INTEREST ONLY LOAN - Only the interest on the principal is repaid during the term of the loan. At the end of that time the principal is repaid as a lump sum. |
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| INTEREST RATE - The rate of return earned on an investment, or charged by a lender, expressed in the form of a percentage per annum. |
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| INVESTMENT PROPERTY - Property (land, a building (or part of a building), or both) held by the owner or by the lessee under a finance lease to earn rentals or for capital appreciation or both. |
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