Affirmative Marketing Agreement (AMA) guidelines are developed by the National Association of Realtors (NAR) to help its members comply with Federal Fair Housing laws in their marketing programs.
Cold canvassing in real estate involves the process of contacting homeowners who are previously unknown to the agent, with the aim of soliciting new property listings. This technique is employed to identify potential sellers and to generate more listing opportunities.
Certified Residential Specialist (CRS) is a designation awarded to experienced REALTORS® who have completed advanced training and demonstrated outstanding achievement in buying, selling, and managing residential real estate.
Curb appeal refers to the attractiveness of a property, particularly residential homes, as seen from the street, and is a critical aspect in real estate marketing and valuation.
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.
Farming in real estate refers to a targeted marketing strategy where an agent or broker focuses on a specific geographic area to cultivate a steady stream of clients, similar to a farmer tending to crops. This marketing plan involves detailed, concentrated efforts in a defined market area.
A listing in real estate refers to a written agreement between a property owner and a real estate agent authorizing the agent to represent the owner in marketing and selling the property. A listing can also refer to the property itself being marketed for sale in the agent's portfolio.
A Listing Broker (Agent) is a licensed real estate professional who secures a listing of the property on behalf of the property owner for the purpose of marketing and selling the property. The Listing Broker is responsible for representing the seller in negotiation and facilitating the sale.
Market penetration, synonymous with capture rate in real estate, measures the share of a market that a particular company or project has secured. This data point is critical for assessing the success of marketing strategies and the competitive positioning of a real estate venture.
Market segmentation is the process of defining the socioeconomic characteristics of the demand for a specific property or properties. It helps in identifying and targeting the right audience for real estate projects and listings.
An open house is a method of showing a home for sale where the property is available for inspection by interested parties. During this event, potential buyers have the chance to explore the home without the need for a prior appointment.
PRIZM (Potential Rating Index for Zip Markets) is a market segmentation tool utilized by marketers to identify target demographics for various products and services. Developed by Claritas, it categorizes populations based on socioeconomic data, housing, and lifestyle attributes.
A prospect in real estate is an individual or entity considered likely to purchase a property. Prospects are typically leads who have shown interest in a property by requesting further information or visiting a listing.
A rebate is a partial refund provided to a buyer, often as an incentive or concession. In real estate, rebates can be offered for various reasons, including promotional or marketing strategies.
