N. mentor
A person who guides a trainee through the first few months or
transactions as a salesperson
Q. property management
The operation and maintenance of rental properties
A. appraiser
A person who estimates property value
R. prospecting
The act of seeking out potential clients
L. listing agreement
A contract between the property owner and the broker to place
properties
for sale with the brokerage
P. offer to purchase
The proposal made by a potential buyer to an owner of property to
purchase the property under stated terms
E. counteroffer
The rejection of an original purchase and the submission of a new and
different offer
O. Multiple Listing Service (MLS)
A cooperative listing service conducted by a group of brokers,
usually
members of a real estate association
I. independent contractor
A person who chooses the method to use in completing the work under
contract, and is accountable for the results
D. commission
The main source of earnings for real estate salespeople and brokers
based
on a certain percentage of the property’s sales price
V. transaction sides
Buyer and seller sides to a transaction
T. Real Estate Professional Assistantsm
(REPA)
A comprehensive two-day certificate course that introduces the real
estate business and the specific ways support staff can become
valuable
assets to their employers
C. broker-owner
A broker who creates a firm and sets all the policies of the firm
H. franchise
A national real estate company that generally offers the greatest
opportunity for training
U. third party
The customer in an agency relationship
M. listing coordinator
A brokerage worker who manages all required paperwork for listings
F. escrow coordinator
A brokerage worker who guides the transaction through to closing and
manages all earnest money deposits, inspections, disclosures,
financing,
title, and escrow issues
S. prospecting coordinator
A brokerage worker who seeks new business to generate leads and set
up
appointments for the lead listing salesperson
B. advertising coordinator
A brokerage worker who makes sure every listing gets its share of ad
time
as well as making up flyers and brochures for team listings
W. transaction coordinator
Brokerage worker to whom salespeople give the paperwork for a
transaction just after a buyer and seller sign the offer to purchase
working smarter
developing a strategy that will help you complete more tasks in a shorter amount of time
earning potential
as a real estate salesperson it is in your own hands, not based on a pay established by an employer
independent firms
two types
Small independent firms usually have one or two office locations and
offer
the greatest amount of flexibility for a new
associate
Large independent firms are usually owned by private
parties or partnerships,
and may have many offices in one area.
job outlook
expected prospects for employment