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30 Cards in this Set
- Front
- Back
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Mentor
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Person who guides a trainee through the first few months or transactions as a salesperson.
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Property Management
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Operation and maintenance of rental properties.
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Appraiser
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Person who estimates property value
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Prospecting
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Act of seeking out potential clients.
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Listing Agreement
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Contract between the property owner and the broker to place properties for sale with brokerage.
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offer to purchase
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Proposal made by potential buyer to an owner of property to purchase the property under stated terms.
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counter offer
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Rejection of an original purchase and the submission of a new and different offer.
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Multiple Listing Service (MLS)
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Cooperative listing service conducted by a group of brokers, usually members of real estate association.
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Independent contractor
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Person who chooses the method to use in completing the work under contract, and is accountable for the results.
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commission
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Main source of earnings for real estate salespeople and brokers based on certain percentage of the property's sale price.
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transaction sides
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Buyer and seller sides to a transaction.
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Real Esate Professional Assistant (REPA)
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Comprehensive two-day certificate course that introduces the real estate business and the specific ways support staff can become valuable assets to their employers.
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Broker - Owner
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Broker who creates a firm and sets all the polices of the firm.
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Franchise
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National real estate company that generally offers the greatest opportunity for training.
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Third Party
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Customer in an agency relationship.
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Listing Coordinator
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Brokerage worker who manages all required paperwork for listing.
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Escrow Coordinator
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Brokerage worker who guides the transaction through to closing and manages all the earnest money deposits, inspections, disclosures, financing, title and escrow issues.
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Prospecting Coordinator
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Brokerage worker who seeks new business to generate leads and setup appointments for the lead listing salesperson.
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Advertising Coordinator
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Brokerage worker who makes sure every listing gets its share of ad time as well as making up flyers brochures for team listings.
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Transaction Coordinator
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Brokerage worker to whom salespeople give the paperwork for a transaction just after a buyer and seller sign the offer to purchase.
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Why do people go into Real Estate Sales?
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High earning potential, Independence, Flexible Schedule
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Real estate salespeople are paid when..
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One of their transaction closes.
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The main source of earnings for real estate salespeople and brokers are...
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Commissions
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Who determines the amount of commission a broker receives?
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The Broker and The Seller
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Someone who is under the control and direction of an employer is...
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an Employee
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An activity involving the sale of something through an intermediary who negotiates the transaction for payment is a ..........
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Brokerage
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A listing agreement is an employment contract between a seller and a ................
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Broker
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Prospecting for listings and selling properties are the main activities of..........
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Sales People
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Preparing CMA's and arranging office previews might be performed by the ................
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Listing Coordinator
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The ____________ coordinator is responsible for paperwork regarding property inspections while the transaction is in escrow.
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Escrow
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