The most common and most likely answer to this crossword clue is the 6 letter word MILORD
I've seen this crossword clue in The Times
M
I
L
O
R
D
More clues leading to the result MILORD
- Old term of respect, or mild ragging
- Gentleman abroad abandoned limo by side of road
- Old Mr Batty keeps one posh address
- Clement secures gold for the title
- I’m backing superior song by Edith Piaf
- Gentleman’s address built by beer drinking men
- Soldiers in gentle address to superior
- Aristocratic address centres on family plot and garden
Buddy explains!

The straight part
We know that "Old term of respect" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case old term of respect = milord.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does MILORD mean?
MILORD noun- An English nobleman, especially one traveling Europe in grand style; a wealthy British gentleman.
- My Lord (used to address peers temporal, judges, etc).