Industry Acronyms
DTI
What is the debt to income ratio?
The 3 laws of Real Estate.
Location, timing, relationship
This term is used to describe a professional estimate/opinion on the value of real estate
What is a CMA?
This is the total commission in dollars of a 6% commission and a $350,000 sale
What is $21,000
In The Wizard of Oz, Dorothy said, "There is no place like home!"... Her home was in this tornado prone state.
What is Kansas?
If this comes in low, you may need to renegotiate the sales price.
What is an appraisal
ROI
Return on investment?
What is FORD
Family, Occupation, Recreation, Dreams
This is the term for the legal document that is most often used to transfer title of real estate from previous to new owner.
What is The Deed?
This is how many feet in an acre.
What is 43560?
Darrin & Samantha Stephens (BeWitched) lived in this town.
What is Westport Connecticut?
These are currently rising
What are interest rates
ARM
What is an Adjustable Rate Mortgage ?
How do you create your value proposition
Basic, Differentiated, Custom and convenience services.
This side of the transaction's title company would usually close the transaction
What is the sellers chosen title company?
Remember to add up all your business mileage in real estate because you can deduct this amount per mile for all business expenses at tax time.
What is .58 cents?
This Real estate board game became the best-selling game in America just one year after it was created.
What is Monopoly,
A loan that allows buyers to finance improvement costs
What is a renovation loan
FMV
What is fair market value?
What is Ninja Selling?
Subtle Skills. Big Results.
Real Estate market is used to evaluate the rate at which available homes sold in a specific market in a period of time.
What is absorption rate?
This is the amount of property tax due by the seller if that yearly tax rate was 6000 and the seller closed on the property April 30th.
What is $2,000?
Elvis Presley's home is named.
What is GRACELAND?
The minimum down payment for a First Time Homebuyer?
What is 3%
REO
What is Real Estate Owned?
What is personal mastery
Mindset, Skillset, Your actions.
Urban 'blight' has been a traditional problem in large cities around the world. What is the term for the deliberate improvement of homes or other properties in urban areas to bring up property values?
What is Gentrification?
This is the amount of DOC. stamps due on a $1,000,000 sale.
What is $3500
Walt Disney created this town near Orlando to look like 1940s southeastern town with traditional architecture.
What is Celebration?
A Loan Officer that is always available
Who is Jeanie Lumpkin