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#330615 - 03/10/10 07:48 PM
Re: Real Estate for Dummies (Terms)...?
[Re: CIProperties863]
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Major Contributor
Registered: 11/02/07
Posts: 1726
Loc: Central New York
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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.
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#330627 - 03/10/10 09:15 PM
Re: Real Estate for Dummies (Terms)...?
[Re: CIProperties863]
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Major Contributor
Registered: 11/02/07
Posts: 1726
Loc: Central New York
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Tell you what. Do the research, and then YOU can simplify it for new bloggers.
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#330634 - 03/10/10 09:56 PM
Re: Real Estate for Dummies (Terms)...?
[Re: CIProperties863]
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Major Contributor
Registered: 03/04/07
Posts: 1718
Loc: SWI
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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 (03/10/10 09:58 PM)
_________________________
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#330642 - 03/10/10 10:42 PM
Re: Real Estate for Dummies (Terms)...?
[Re: jbt4re]
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Major Contributor
Registered: 11/02/07
Posts: 1726
Loc: Central New York
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Justine, you're too nice. Now let's see if he/she can figure out which two definitions are incorrect.
Edited by neudot (03/10/10 10:44 PM) Edit Reason: Missed punctuation!
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#330651 - 03/11/10 01:49 AM
Re: Real Estate for Dummies (Terms)...?
[Re: neudot]
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Major Contributor
Registered: 04/12/08
Posts: 4458
Loc: Vermont's North-East Kingdom
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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"
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#330723 - 03/11/10 02:23 PM
Re: Real Estate for Dummies (Terms)...?
[Re: CIProperties863]
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Major Contributor
Registered: 11/02/07
Posts: 1726
Loc: Central New York
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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.
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#334731 - 04/14/10 05:49 PM
Re: Real Estate for Dummies (Terms)...?
[Re: jbt4re]
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Member
Registered: 12/11/09
Posts: 82
Loc: Indianapolis
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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.
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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.
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Registered: 03/04/06
Posts: 217
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