means Professional Association
No wonder it didn't click . . . . most of the Professional Associations I'm familiar with happen to be Not-for-Profit Organizations
like Trade Unions, Religious Bodies or Political Parties . . . . and they make a point of not making profits; and usually don't have to pay Taxes to the Government.
I don't suspect there are many Real Estate Brokerages who have organized themselves as Professional Associations . . . . even though many do unintentionally fail to make a profit (in some years). When operating at a loss, Brokers still have to report any Income.
The National Association of REALTORS® (NAR) is a Professional Association; but they spend all of our Annual Dues just to make sure they remain a Non-Profit entity.
I'd be surprised if any Real Estate Brokers here on this Forum are organized as Professional Associations; but maybe I'm just in the dark.
You might be the first one ?