Comparables, often abbreviated as COMPS, are an essential element in real estate appraisal and valuation processes. They refer to the comparability of properties with similar characteristics, used primarily to determine the market value of a subject property.
Computerized Loan Origination (CLO) refers to the process of initiating a mortgage loan using specialized computer software that connects the originator with one or more mortgage lenders. This system allows real estate brokers to offer a wider range of services.
License laws govern the activities of occupations that require licensing, ensuring professionals meet certain standards to practice in fields such as accounting, law, medicine, nursing, barbering, insurance, and real estate.
An association of real estate brokers who agree to share listings with each other, facilitating a broader array of choices for prospective buyers and enabling brokers to share commission from sales.
A REALTIST is a member of the National Association of Real Estate Brokers (NAREB), which primarily comprises minority brokers dedicated to promoting fair housing and equal opportunities in real estate.
