Equity realization refers to the degree in which a hand will be able to claim its calculated equity in a hand matchup. Situational factors such as position, skill level, and post-flop playability can reduce or increase the likelihood a hand will win its calculated share of the pot
Raw equity is the average percentage of the pot a hand expects to win versus the opponent's range. This assumes both hands will reach showdown. For example, if you have AKs, which has a 50% chance of beating your opponent's 22 by showdown, you have 50% raw equity.