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Jun 15, 2021 · Written by MasterClass. Last updated: Jun 15, 2021 • 7 min read. The real estate industry uses several unique acronyms and abbreviations. Understanding these terms can be beneficial for buyers and sellers.
- Accredited Buyer's Representative
- Accredited Buyer's Representative Manager
- Accredited Land Consultant
- Average Percent of Original List Price Received
- Average Sale Price
- Cash Sales
- Cash Sales as A Percentage of Closed Sales
- Certified Commercial Investment Member
- Certified International Property Specialist
- Closed Sales
The ABR education provides Realtors with what they need to stay competitive in today's market. Member benefits such as marketing tools, a referral network and other resources, help to promote their business. Courses for the designation are available both in the classroom and online. www.rebac.net.
The ABRMs real estate broker course was developed for managers, brokers and owners who wish to better incorporate buyer representation into their company’s service offerings. Designees have taken and passed both the ABR and ABRM course and provided documentation of past management experience. Courses for the designation are available both in the cl...
The Realtors Land Institute serves a unique constituency in the real estate industry -– those who broker, lease, sell, develop, and manage land assets, including vacant, transitional land; agricultural and pastureland; timberland; and ranch and recreational properties. Through its rigorous Land University curriculum, the Realtors Land Institute con...
The average of the sale price (as a percentage of the original list price) across all properties selling during the month The Average Percent of Original List Price Received is an indicator of market conditions, in that in a recovering market, the measure rises as buyers realize that the market may be moving away from them and they need to match th...
The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales) For home prices, Average Sale Price is generally not as effective a term as Median Sale Price as a summary statistic for home prices. However, Average Sale Price is useful when it is analyzed alongside the Median Sale Price. The relative diffe...
The number of Closed Sales during the month in which buyers exclusively paid in cash Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical home buyer requires a mortgage or some other form ...
The percentage of Closed Sales during the month which were Cash Sales This statistic is simply another way of viewing Cash Sales. The remaining percentages of Closed Sales (i.e. those not paid fully in cash) each month involved some sort of financing such as mortgages, owner/seller financing, assumed loans, etc.
A Certified Commercial Investment Member (CCIM)is a recognized expert in the disciplines of commercial and investment real estate.
The CIPS designationis the specialty membership group for international practitioners of the National Association of Realtors.
The number of sales transactions that closed during the month. Closed Sales are one of the simplest – yet most important – indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend using the year-over-year percent changes rather than the absolute counts. Realtors and their clients...
Common Official (and Unofficial) Real Estate Abbreviations There are many abbreviations used in real estate, but the following list includes the more common ones you’ve probably heard before. In the abbreviations, you may see differences in which letters get capitalized and which don’t depend on the realtor/publication.
- Accredited Buyer's Representative® / ABR® The benchmark of excellence in buyer representation. This coveted designation is awarded by the Real Estate BUYERS AGENT Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS® who met the specified educational & practical experience criteria.
- Accredited Land Consultant / ALC. The esteemed Accredited Land Consultants (ALCs) are the most trusted, knowledgeable, experienced, and highest-producing experts in all segments of land.
- Certified Commercial Investment Member / CCIM. The Certified Commercial Investment Member (CCIM) designation is commercial real estate’s global standard for professional achievement, earned through an extensive curriculum of 200 classroom hours and professional experiential requirements.
- Certified International Property Specialist / CIPS. The best in international real estate. The program includes intensive and extensive study focusing on the critical aspects of international real estate transactions which are significantly different and more complex than domestic deals.
Common Real Estate Abbreviations Below are some of the more common real estate abbreviations. Which letters are capitalized and which aren’t isn’t always consistent. 3/4 Bath Toilet with sink and either shower or tub HOA Homeowners’ association AC Acres HVAC Heating, ventilation, and air conditioning
SFH. Undoubtedly one of the most ubiquitous real estate abbreviations in home listings, "SFH" means single-family home. Distinct from a townhome, condominium or apartment, an SFH is a standalone home that doesn't share walls or utilities with another property. Plus, it is located on its own parcel of land. The occupants of an SFH could be a ...
Nov 13, 2023 · A Realtor is a real estate agent who is a dues-paying member of the National Association of Realtors. NAR members are held to a high standard of professionalism and adhere to a strict code of ethics. Refinance. If a borrower takes out a new loan on the same property, it’s called a refinance.
