What term refers to the uniqueness of individual parcels of real estate?

The term that refers to the uniqueness of individual parcels of real estate is non-homogeneity. This concept highlights that every parcel of real estate is different and has its own distinct characteristics, such as location, shape, size, and surrounding features. In real estate, non-homogeneity indicates that no two properties are exactly alike, even if they are similar in many respects.

For leasing agents, understanding non-homogeneity is crucial when evaluating properties or presenting them to potential clients, as it emphasizes the importance of individual property attributes in determining value, appeal, and usability. By recognizing non-homogeneity, agents can better articulate the specific benefits and limitations of a property, thus aiding clients in making informed leasing decisions.