What is the "elect"?

When we use the word "elect" we are often referring to a
person who has recently been elected to an office, whether it be locally or at the state
or federal level. They are referred to as the elect in the time between when they win an
election and when they actually take office. Thus, right now, all of the new senators
and legislators who are about take office in January 2011 after the November 2010
elections are called Senator Elect Smith (or whatever their last names
are).

There are many forms of the word elect. The way you
refer to it in your question suggests this form of the word above that I have suggested
which is a noun. To elect someone would be to vote for them with is an action and thus a
verb. The electorate are those who vote. The election is the act (another noun) or event
held which allows voters to cast their ballots.