The word “real” ultimately derives from Latin res ”thing” and was used in Middle English to mean “relating to things, especially real property”.
The word mortgage is a French Law term meaning “death pledge”, meaning that the pledge ends (dies) when either the obligation is fulfilled or the property is taken through foreclosure.
The first known home inspection company, Home Equity Loss Protection Services dba/H.E.L.P.S.(Glen Ellyn, IL), was originally founded by Christopher P. Nolan and Loyola Professor Mark Goodfriend. Years later, the company was officially incorporated in the early 1980s.
An appraiser (from Latin appretiare, to value), is one who sets a value upon property, real or personal.
A real estate broker or real estate agent is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.
According to the U.S. National Association of Realtors:
In the late 1800s, real estate brokers regularly gathered at the offices of their local associations to share information about properties they were trying to sell. They agreed to compensate other brokers who helped sell those properties, and the first MLS was born, based on a fundamental principle that’s unique to organized real estate: Help me sell my inventory and I’ll help you sell yours. The official Multiple Listing Service (MLS) was introduced in 1967.
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