Investors United School of Real Estate Investing
Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
Free Marketing Kit



How To Advertise Here

Sponsors
More Good Ideas!
Get Listed In The Realtor Directory

Internet Marketing Tips for Realtors




Build your brand on a Real Estate Site


Facebook
Sponsors
Topic Options
Rate This Topic
#330603 - 03/11/10 12:31 AM Real Estate for Dummies (Terms)...?
CIProperties863 Offline
Member

Registered: 03/10/10
Posts: 63
Loc: Polk County, FL
Can someone please help break down these term definitions:
BPO-
REO-
HUD-
SOI-
CMA-
FSBO-
SHORT SALE-
COLD CALLS-
EXPIREDS-
FARMING A NIEBORHOOD-
(I no most of the terms, this to help out thoses bloggers who don't so please don't hesitate to help out thank you!...)

Top
#330615 - 03/11/10 01:48 AM Re: Real Estate for Dummies (Terms)...? [Re: CIProperties863]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
The answers to all of the above are on this website, but probably no one will just hand them to you. One of our requirements is you check old posts before asking. Read, read, read.

Top
#330617 - 03/11/10 02:06 AM Re: Real Estate for Dummies (Terms)...? [Re: neudot]
CIProperties863 Offline
Member

Registered: 03/10/10
Posts: 63
Loc: Polk County, FL
Yeah I know!!! As I stated before I trying to have it simplified for new bloggers

Top
#330627 - 03/11/10 03:15 AM Re: Real Estate for Dummies (Terms)...? [Re: CIProperties863]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
Tell you what. Do the research, and then YOU can simplify it for new bloggers.

Top
#330634 - 03/11/10 03:56 AM Re: Real Estate for Dummies (Terms)...? [Re: CIProperties863]
jbt4re Offline
Major Contributor

Registered: 03/04/07
Posts: 2032
Loc: SWI
Originally Posted By: Cirino_21
Can someone please help break down these term definitions:
BPO- Business Process Outsourcing - sending jobs overseas
REO- Real Estate Owner - a person or entity that owns real estate
HUD- Housing and Urban Development - Federal Agency
SOI- Sphere of Influence - generally your immediate friends and family that may be able to provide referrals for listings or buyers
CMA- Comparative/Competitive Market Analysis - an analysis of what a house may potentially sell for considering current market conditions
FSBO- For Sale by Owner - seller's who don't use and agent to sell their house
SHORT SALE- Listings that may sell for less than owed on the mortgage
COLD CALLS- marketing calls made to potential sellers or buyer, usually from a list of phones numbers not on the Do Not Call list
EXPIREDS- Listing that have expired in the MLS and are free game to every agent looking for listings
FARMING A NIEBORHOOD- sending out personal marketing material promoting oneself to a particular area in the hope of snagging a client




Edited by jbt4re (03/11/10 03:58 AM)
_________________________


Top
#330642 - 03/11/10 04:42 AM Re: Real Estate for Dummies (Terms)...? [Re: jbt4re]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
Justine, you're too nice. Now let's see if he/she can figure out which two definitions are incorrect.


Edited by neudot (03/11/10 04:44 AM)
Edit Reason: Missed punctuation!

Top
#330651 - 03/11/10 07:49 AM Re: Real Estate for Dummies (Terms)...? [Re: neudot]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 6279
Loc: Vermont's North-East Kingdom
I think Manny Curino just has to settle down and decide where, IF ANYWHERE, he's going to attempt to get a Real Estate License . . . . Connecticut or Florida. If BOTH, then he still has to focus on them ONE AT A TIME.

He has to do his research on the Licensing Requirements for that 1st State, plan on studying for that Exam for a few months, work towards getting a License there, and then work that Territory for a few years. After that, he can THEN move on to the other State, IF his enthusiasm hasn't withered up and died.

Being so jumpy and indecisive, wavering (just in the past 24 hours) back and forth between these two places, which are 1200 miles apart, is really unproductive.

The very thought of discussing a "Mentor" when he hasn't even decided upon which State, let alone begun preparation for that State's Exam, seems ridiculously premature. WHO, in their right mind, would be willing to have a serious discussion about mentoring someone who has yet to show sufficient initiative to at least travel through the basic steps outlined above ?

So Manny, which is it? . . . . Florida? . . . . or is it Connecticut?

Maybe tomorrow, when he wakes up, it will be someplace in between, like Tennessee or North Carolina. It has to be someplace that currently lacks Agents for that abundance of $600,000 Listings that are waiting to be sold. Delaware also has some nice undiscovered luxury areas too! And there are lots of Mentors in D.C.

Reminds me of a Buyer who couldn't make up his mind on which of three Listings to Buy. Ultimately the decision was made for him . . . . it was None! The mere passage of time left them available to be purchased by someone else; and all three of them were.

In another business, we used to call this condition Analysis Paralysis ! Progress then would always equate to N O T H I N G !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#330657 - 03/11/10 12:07 PM Re: Real Estate for Dummies (Terms)...? [Re: Vermont]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7686
Loc: PA
But he 'nos' all the terms. He must also 'no' what he's going to do Vermont...he'll 'no' it to death, so that's the answer.

no.

Top
#330690 - 03/11/10 05:45 PM Re: Real Estate for Dummies (Terms)...? [Re: Perky_REALTOR]
CIProperties863 Offline
Member

Registered: 03/10/10
Posts: 63
Loc: Polk County, FL
Let me set the record straight for Nuedot and Vermont that seem to be my biggest fans they like to pop up in my threads with all of there negativity. I'm 23yrs old originally from CT now I don't no if you guys no about CT but it is not a cheap place to live expecially in my area the cheapest home in my town is 425k. The main reason I have a huge interest in luxury homes is becuase I use to build them. I use to work for a developer, after I left this job I went to NYC were I worked in the music Industry both Sony Bmg & University/interscope till this day I still have relationships with excutives, lawers, even my old boss the developer etc.. all who live in CT and have mula so I'm confident I can make clients on out of these relationships plus I have all my nieghbor too. This is why I want to tackle this market I have faith in my ability. This industry is just like the entertainment industry some realtors make it big some never do and keep trying & put down the ones that are coming up bottom line is it's all about luck your either lucky and at the right place at the right time or your not! I am absolutly 100% sure I'm going to Florida I already have my school payed for I have $1,500 set for all my fees and $5,000 for emergency I also already have spoke to 3 brokers. I do wish to return to CT after some time. I have done alot of reseach I have spoke to many of the realtor/brokers posted on luxuryportfolio.com/luxurylivinginCt.com greenwhichfinehomes.com etc. and I keep in contact with many of them by email this is all apart of my 10 year plan I no I have to work my way up I am far from being stupid but rather smart! As far as my postings go "RE for dummies" & "highest commissions ever made" this is called [ASPIRING AGENT!] a forum for people thinking of becoming agents people who don't know everything! I do know alot of these terms my reason here is to help make things easy so people don't have to research like I did.
ALWAYS WORK HARDER NOT SMARTER....

Top
#330723 - 03/11/10 08:23 PM Re: Real Estate for Dummies (Terms)...? [Re: CIProperties863]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
Cirino, I don't mean to dump on you. Your youthfulness and enthusiam are refreshing, and hopefully these plus your contacts may help you along in your chosen career.

Your writing skills, however, are deplorable. Pine has criticized me in the past for beating up on new folks for their poor writing skills. So I have for the most part, kept a lid on it. But really! Please improve in this area. Run on sentences, lack of capitalization, wrong useage of some pretty common words (the difference between "know" and "no"), incorrect spelling all over the place.

If you improve in your writing skills it can only help in your career aspirations.

Top
#334731 - 04/14/10 10:49 PM Re: Real Estate for Dummies (Terms)...? [Re: jbt4re]
msWoods Offline
Member

Registered: 12/11/09
Posts: 89
Loc: Indianapolis, IN
Originally Posted By: jbt4re
Originally Posted By: Cirino_21
Can someone please help break down these term definitions:
BPO- Business Process Outsourcing - sending jobs overseas
REO- Real Estate Owner - a person or entity that owns real estate
HUD- Housing and Urban Development - Federal Agency
SOI- Sphere of Influence - generally your immediate friends and family that may be able to provide referrals for listings or buyers
CMA- Comparative/Competitive Market Analysis - an analysis of what a house may potentially sell for considering current market conditions
FSBO- For Sale by Owner - seller's who don't use and agent to sell their house
SHORT SALE- Listings that may sell for less than owed on the mortgage
COLD CALLS- marketing calls made to potential sellers or buyer, usually from a list of phones numbers not on the Do Not Call list
EXPIREDS- Listing that have expired in the MLS and are free game to every agent looking for listings
FARMING A NIEBORHOOD- sending out personal marketing material promoting oneself to a particular area in the hope of snagging a client




Some of these are not correct.
BPO = for Broker Price Opinion.
REO = Real Estate Owned (not "owner"). REO real estate often refers to HUD-owned real estate, but may also refer to repossessed properties that are privately owned--e.g., by the banks that foreclosed upon them.
_________________________
Michael Woods is the owner of msWoods Real Estate, LLC, FunCityFinder and FunHomeFinder

Top






Moderator:  DelCidsRealty, TylerMeyerRE 
Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Sponsors

Newest Members
Pattrick Wall, iDavid Aaron, AgentJ, TaylorPark, fndme29249
26170 Registered Users
Who's Online
3 registered (Gamin' Agent, Tuna, gwesley), 135 Guests and 3 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
David Hunter 52
lucky 47
RAH 46
Vermont 42
BrianMI 37
75Corvette 21
gitmonee 15
Bigtoe 14
Tuna 12
sualk54 12
agentjunior 11
synergy 9
Eric G. 9
RonnieEmz 9
poindexter 8
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 10904662
No new orders today 9958279
Stupid MLS comments. 2057191
What do you know about Froy Candelario, top agent in USA 682751
Stupid QC comments and BPO requirements. 649199
New HUD Listing Brokers---Any Update? 615156
Is there religious content in Buffini class? 488531
EML 459215
Pay it Forward - BPO/REO Tips & Tricks I & II 388401
Let's talk about our cars 385694
Most common items found at an REO 327941
Evalonline 300063
Land America 285039
REOTRANS 269979
Mainstreet 261846
Name that Flick. Great movie Lines. 255026
asset val seminar in colorado 247956
FARVV 177361
HOMONYMS - There, Their, and They're 161753
assist 2 sell or 1 percent realty? 149430
Featured Member
Registered: 06/21/13
Posts: 11

How To Advertise Here


This site presented by RNC Internet Services