Industry Acronymns
DOM
Days on market
This form you write an offer.
Purchase Contract
A financial institution that makes loans directly to you.
Lender
Under all is the land...
Preamble
GRI
Graduate REALTOR® Institute
FHA
Federal Housing Administration
The meeting that takes place where the sale of the property is finalized.
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.
Home Stager
A group of REALTORS who initially reviews an ethics complaint or arbitration request, and determines whether there was a possible ethics violation.
Grievance Committee
CRS
Certified Residential Specialist
HIS
Hawai'i Information Service
An exchange of like properties on a tax-deferred basis.
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.
Title & Escrow
Broad ethical principles are established in each Article of the Code of Ethics. This interprets & explains the Articles.
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.
Refinancing
Evaluates a property to establish its market value.
Appraiser
A group of REALTORS® who holds hearings on complaints forwarded by the Grievance Committee.
Professional Standards & Arbitration Committee (PSAC)
SRS
Seller Representative Specialist
NAR
National Associaion of REALTORS®
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.
Steering
This professional comes into play in section J-2 of the Purchase Contract.
Home Inspector
Three major categories of the Code.
1. Duties to Clients & Customers, 2. Duties to the Public, and 3. Duties to REALTORS®
CIPS
Certified International Property Specialist