Acronyms
The main contract document used when making an offer.
What is REPC?
Document that must be signed before being able to show a house to a client.
What is a buyer broker agreement or a limited showing agreement?
Contractural agreement between sellers and agent/brokerage allowing representation.
What is an ERS? Exclusive Right to Sell Listing Agreement and Agency Disclosure
99% of the time do not use your phone for this.
What is photos?
The document used when a home was built before 1978.
What is the Lead Based Paint Disclosure?
The document sellers fill out to tell buyers all about the property.
What are SPCDS? (Seller Property Condition Disclosures)
The program used to schedule appointements to show houses.
What is Aligned Showings?
The document from the title company that tells the seller what liens and judgements are attached to the property.
What is the PR or preliminary title report?
The equity logo or brokerage name must be on it when advertsing properties for sale.
What are all written advertisements/postcards/yard sign and social media channels?
This document is used when a buyer wants to make an offer and they need help from the seller to pay for some of the loan or other fees.
What is the closing costs addendum?
The document outlining the rules of a neighborhood.
What are CCRs? Codes, Covenants, Restrictions
This deadline is the 'last chance' for your buyer to get their earnest money back.
What is the finance and appraisal deadline?
The form that needs to be filled out outlining all of the details about the property being sold.
What is the listing input form?
The place you keep all of your contacts and information about them.
What is your CRM? (customer relationship manager)
This is the addendum you use if you are purchasing a property for yourself.
What is the disclosure of interest addendum?
When a newly built property is completely ready they have received this.
What is COO? or Certificate of Occupancy
The document that title provides that outlines all of the final numbers for your buyer or seller before they close on a property.
What is a settlment statement?
A fee that must be researched and reported on the MLS if the seller is listing a property that has an HOA.
What is The HOA transfer fee/reinvestment fee or monthly HOA fee?
The best way to generate business.
What is repeat and referral clients? Or your sphere?
This is the document you would use if you want to counteroffer a buyer that has a home they have to sell before they can purchase your listing.
What is a time clause addendum?
Must be shared with your buyer at least 72 hours before closing on a property when getting a loan to purchase it.
What is a CD? or Closing Disclosure
LPMAMA
What is Location, Price, Motivation, Agency, Mortgage, Appointment?
When the property OFFICIALLY transfers ownership from seller to buyer.
What is Funding and Recording?
The term used when an agent focuses heavily on one specific geographic location to get clients.
What is geographic farming?
This is often the last form you fill out and share with your clients to initial and sign before submitting your loop to corporate. It reminds them what forms they've already signed.
What is the transaction document receipt?