What is the meaning of the word Realty?
Realty is an industry term that most accurately describes the services rendered by real estate agents, property managers and brokerages related to the purchase, sale, leasing and managing of real estate. As a word, it most likely originated from the term real property (or real estate), taking the “real” and adding the -“ty” from “property.”
Real Estate Agent Explains Realty
The word realty may have originally meant real property, but currently is used much more often as a replacement for real estate services because it’s a short, quick way to describe a company. It may still be defined online as a synonym for real property, but I have never actually seen it used to that effect. It is almost always associated with a company name or a description of the services that company provides. In other words, when you’re looking at realty vs. real estate, the comparison only applies when the term realty is used as a synonym for property. In Edmonton, this typically isn’t the case.
Edmonton real estate agents may be referred to as realtors, which has a specific legal definition in Canada as a professional registered with the National Association of Realtors.
Why Does It Matter?
I think the word realty will continue to be used more often to describe services and the companies that provide those services and rarely to describe property itself.
