Real estate agents play a crucial role in land development, and to effectively market and sell properties, they need to be familiar with the terminology used in this field. Here are some essential terms that every real estate agent should know:
Zoning: Refers to the use of land for specific purposes, such as residential, commercial, or industrial. Zoning regulations can impact the value and development potential of a property.
Easements: Legal rights to use another person’s land for specific purposes, such as access to a property. Agents should be aware of any easements affecting a property they are dealing with, as they can have an impact on its value and development potential.
Site plan: Provides an overview of the proposed development and its layout. Site plans include information about building placement, parking, landscaping, and other site elements.
Shadow studies: Used to evaluate the impact of a building’s shadow on surrounding areas, including neighboring properties, public spaces, and transportation corridors.
Angular plane: Measures the angle between a building and a horizontal plane to regulate building heights and their impact on neighboring properties.
Environmental impact assessment: Evaluates the potential impact of a development on the environment, including air quality, water quality, and habitat preservation.
FSI (Floor Space Index): A ratio of the total floor area of a building to the area of the land it is built on. FSI is used to determine the maximum amount of built-up area allowed on a given plot of land.
GFA (Gross Floor Area): The total floor area of a building, including all floors and basements. GFA is used to determine zoning regulations and building codes.
Density: The number of people or units per unit of area, such as the number of residential units per acre. Density regulations can impact the number and size of buildings allowed on a property.
In conclusion, understanding the essential terms in land development is crucial for real estate agents to provide clients with accurate information and make informed decisions about their land investments. By familiarizing themselves with these terms, agents can navigate the complex regulations and requirements involved in land development and provide the best possible service to their clients.
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