Acronymns
DOM
Days on Market
This form you write an offer.
What is the Purchase Contract.
A financial institution that makes loans directly to you.
Who is a Lender.
Under all is the land...
What is the Preamble.
GRI
Graduate REALTOR® Institute
FHA
Federal Housing Administration
The meeting that takes place where the sale of the property is finalized.
What is a Closing.
Responsible for preparing a home for sale, most times before photographs of the home are taken, to make it more appealing while still allowing the potential buyers to envision putting their own personal touch on the property.
Who is a Home Stager.
A group of REALTORS® who initially reviews an ethics complaint, and determines whether there was a possible ethics violation.
Who is the Grievance Committee.
CRS
Certified Residential Specialist
MLS
Multiple Listing Service
An exchange of like properties on a tax-deferred basis.
What is a 1031 Exchange.
The final step in the home buying process, in which documents are prepared for the closing; and, manage the movement of funds from the real estate transaction.
What is Title & Escrow.
Broad ethical principles are established in each Article of the Code of Ethics. This interprets & explains the Articles.
What are the Standards of Practice.
ABR
Accredited Buyer's Representative
CMA
Comparative Market Analysis
When you restructure your home loan, replacing your old loan with an entirely new loan, that has different rates and payment structures.
What is Refinancing.
Evaluates a property to establish its market value.
Who is an Appraiser.
A group of REALTORS® who holds hearings on complaints forwarded by the Grievance Committee.
Who is the Professional Standards and Arbitration Committee (PSAC).
SRS
Seller Representative Specialist
FSBO
For Sale By Owner
A form of discrimination whereby a real estate professional influences someone's housing decision based on their race, religion, or another protected characteristic covered by the '68 Fair Housing Act.
What is Steering.
This professional comes into play after a seller accepts an offer on a home and before the sale is finalized in order to examine the home's structure and systems, and creates a report of their findings.
Who is a Home Inspector.
Three major categories of the Code.
What are: 1. Duties to Clients & Customers, 2. Duties to the Public, and 3. Duties to REALTORS®
AHWD
At Home With Diversity