Real Estate Terms
Someone who has taken national and state level training on the laws of buying and selling real estate and passed both the federal and their state test.
Real Estate Agent / Realtor
They want to make sure everyone feels included in the decision
Consensus builder
What does MLS stand for?
Multi-Listing Site / Multiple Listing Service
A reason for selling that usually means "kids are grown up"
Empty Nester
People who own a property and are eager to sell it.
Motivated Sellers / Hot Leads
If you want them to like you, do not compete with them.
Director
What does FSBO stand for?
For Sale by Owner
A property that was passed down or given to the next generations.
Inherited Property / Inhereritance
It is a process that is executed at a county court where the executor for the estate of a deceased person sells property from the estate in order to divide the property among the beneficiaries.
Probate Sale / Probate
On this type of lead, the key is controlling the conversation with questions to keep them talking and guide them without cutting them off
Social Engergizer
What does FRBO stand for?
For Rent by Owner
This term refers to the place where the elderly will move to get access to help in their daily routines
Assisted Living/Nursing Home
It is a non-traditional or uncommon means of buying land or property. The goal is generally to purchase or finance a property.
Creative Terms Deal / Terms
This type of lead rejects hype and pitching and values data and facts
Analyzer
What does HOA stand for?
Home Owner's Association
A motivation to sell in order to avoid getting the property repossessed by the financial institution or bank.
Preforeclosure / Foreclosure