A local organization comprised of licensed real estate professionals who are members of the state and National Association of REALTORS®.
Market exposure in the context of real estate refers to the efforts made to advertise and promote a property for sale. This can involve various strategies, ranging from traditional classified ads in newspapers to advanced online listings and signs.
A plan offered by some real estate brokers that allows buyers or sellers to contract for less than the full array of brokerage services at reduced commission rates.
A lockbox is a secure device placed near the door of a house for sale; it can be opened with a key or combination code given only to members of a Multiple Listing Service (MLS). The lockbox contains a key to the house, providing MLS members access to show the property to clients.
A Multiple Listing Service (MLS) is a regional database used by real estate brokers to share property listings, facilitating the process of buying and selling homes by providing a centralized and up-to-date source of information.
A Pocket Listing is a real estate term referring to the practice of holding back a property from being listed in the Multiple Listing Service (MLS) in order to find a buyer within the listing broker's network, thereby retaining the full commission.
Sale pending is a term used in real estate to describe a property for which a contract has been signed but the transaction has not yet closed. These transactions are not officially counted as sales until the closing process is completed.
A Virtual Office Website (VOW) is an internet-based site where real estate brokers provide listings and related data to clients in compliance with the rules and regulations set forth by multiple listing services (MLS).
