H. disclosures
Information that must be given to consumers about their financial
dealings
Q. listings
Owner agreements to place properties for sale with a brokerage
P. listing appointment
The opportunity a salesperson has to convince a prospective seller to
list
the home with that particular salesperson
V. pre-listing package
A professional marketing piece sent to a prospective seller before a
listing
appointment that is designed to identify a salesperson
and highlight his or
her qualifications
D. career book
A marketing piece that reflects the personal history of a real estate
salesperson’s career
W. property marketing
plan
A detailed schedule of everything a real estate salesperson will do
to
market a property
F. CMA
A comparison analysis that real estate salespeople use while working
with
a seller to determine an appropriate listing price for the
seller’s house
T. net sheet
Shows the approximate net amount of money the seller can expect to
receive for a specified sales price
B. agency relationship
A special relationship of trust by which one person (agent) is
authorized
to conduct business, sign papers, or otherwise act on
behalf of another
person (principal). This relationship may be
created by expressed
agreement, ratification, or estoppel
O. listing agreement
A written contract by which a principal, or seller, employs a broker
to sell
real estate
Y. staging
Preparing a home for maximum appeal to buyers
R. marketing
The process involved in promoting a product or service
A. advertising
The mode and frequency through which a marketing concept is
communicated
U. open house
A prospecting activity that advertises the house and allows
prospective
buyers to visit the property spontaneously
S. MLS
A cooperative listing service conducted by a group of brokers,
usually
members of a real estate association
X. purchase contract
The contract that outlines all the special terms of a transaction as
agreed
upon by the buyer and seller
G. contingencies
Statements that define the terms of an agreement and give the other
party to the agreement cause to void an offer if the terms are
not met
L. execute
To make valid by signing
I. earnest money deposit
Down payment made by a purchaser of real estate as evidence of good
faith A deposit or partial payment
C. appraisal
The estimation of property value
K. escrow
The period during which all parties are held accountable for the
terms in
the purchase agreement
Z. title company
A company that performs a title search on the property and issues a
title
policy for the lender and the purchaser to ensure that
there is a valid
mortgage lien against the property and title is clear
M. Homebuyer’s Checklist
A detailed questionnaire about what a buyer is looking for in a home
E. closing statement
An accounting of funds made to the buyer and seller
separately.
Required by law to be made at the completion
of every real
estate transaction
J. electronic lock box system
a secure container typically attached to a property's door or gate
N. home warranty program
A contract between a homeowner and a home warranty company that
provides coverage for the covers repair or replacement of named
components of the home for a specified period of time, such as one year
AA. title insurance
An insurance policy that protects the named insured against
loss or damage due to defect in the property’s title