Agency
An agency is the relationship, which exists at law between two or more persons whereby one (the agent) is authorised to act on behalf of the other (the principal) to do certain specified acts. A common form of agency occurs in the sale, purchase and leasing of real estate.

Angel
An angel investor is a person who invests in a business venture, providing capital for start-up or expansion. These individuals are looking for a higher rate of return than would be given by more traditional investments (typically 25% or more).

Asking Price
The price that the person selling the property would like to obtain (most often, this is greater than the actual sale price).

Asset
Any property owned by a person or business. Tangible assets include money, land, buildings, investments, inventory, cars, trucks, boats, or other valuables. Intangibles such as goodwill are also considered to be assets.

Auction
A public sale of property in which prospective purchasers bid until the highest price is reached.

Audit
The process of examining and verifying a company's financial records and supporting documents.