Industry Acronyms
the ratio of the borrowed amount versus the cost of the house.
What is LTV?
As agents, we can no longer offer commission on MLS, What is the allowed term for what that money is now called?
What is Compensation
The 3 industries represented in our Gibraltar Partner ship?
What is Mortgage, Title and Insurance
While not solely a real estate movie, this heartwarming Pixar film features a central plot point involving an elderly man refusing to sell his house amidst rapid urban development. The house becomes a symbol of nostalgia and resilience, resonating with audiences of all ages.
What is "Up" (2009)?
The name of Elvis Presley's home
What is Graceland?
this indicates a property is bank owned.
What is REO?
Form used to convey to other broker the commission amount the seller is agreeing to pay according to the listing agreement.
What is Form 2402 –the Compensation Agreement Between Brokers?
Report that shows the history of claims made on a specific property.
What is CLUE report?
Based on the acclaimed Broadway musical, “Rent” explores the lives of struggling artists living in New York City’s East Village. As gentrification threatens their homes and community, the characters navigate the challenges of urban development and the fight to preserve their way of life.
What is "Rent" (2005) ?
What town did The Flinstones call home?
What is Bedrock?
FHA stands for what?
What is Federal Housing Administration?
Form used to request a seller pay a buyers agent commission when seller says they would consider paying?
What is Form 2406 Addendum Regarding Brokers Fees?
What type of closing allows a signer to appear before a notary using audio-visual technology over the internet instead of being physically present in the same room.
What is Remote Online Notarization?
This comedy stars Tom Hanks and Shelley Long as a couple who purchase a seemingly perfect dream home, only to discover its hidden flaws and endless repairs. The film humorously portrays the challenges of home renovation and the unpredictability of real estate investments.
What is "The Money Pit" (1986)?
The statue commonly used to to help sell a home is buried upside down in the back yard or even next to the sign.
What is St. Joseph?
What is the mechanism that protects the lender incase you default the loan?
What is PMI?
We are required to have a rep agreement before we show houses to anyone. Which form would we use when we show a buyer our listing when they call off the sign?
What is Representation Disclosure. Form 1417
The name of the Gibraltar mortgage program that allows a buyer to buy their dream home now and take advantage of a lower rate later.
What is Rate Rebound?
Based on the true events of the 2008 financial crisis, this film focuses on the housing bubble and subsequent market collapse. With a stellar ensemble cast including Christian Bale, Steve Carell, and Ryan Gosling, it highlights the greed and corruption that led to the crisis.
What is "The Big Short" (2015) ?
The square feet of an acre.
What is 43560?
Documents that control what you can and can't do with your home in the neighborhood.
what is "Covenants, Conditions, and Restrictions" (CC&Rs)?
In our agreement, the buyer previously only agreed to pay me 2%. We are looking at new construction homes. The builder is paying 3% commission. How can I be authorized to earn that commission amount?
What is Sign an Amendment to Representation Agreement?
The type of brokerage that offers their clients a wide range of services, including real estate, mortgage, title and insurance.
What is Full Service Brokerage?
In this drama, Matt Damon plays a corporate salesman who visits a rural town to convince its residents to sell their land for natural gas drilling. As he becomes personally involved with the community, he grapples with the ethical implications of his actions and the consequences of real estate development.
What is "Promised Land" (2012)?
The color that doors are commonly painted once the home mortgage is paid off?
What is Red?