NEW AGENT VOCABULARY
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CAPE COD – A one and a half story house with a high gabled roof to allow for rooms upstairs, sometimes with dormer windows extending out from the roof.
COLONIAL – A two or two and a half-story house which is basically symmetrical in design, usually with a gabled roof. Also what agents call a house when they don’t know what else to call it.
FSBO – A property that is For Sale By Owner.
GABLE – 1. A roof coming to one central peak. 2. The triangular end of that roof. 3. The triangular end of a protrusion extending out from a sloped roof. The entire protrusion is called a DORMER. 4. A movie star from the middle part of the 1900’s that appeared in “Gone With the Wind” and “It Happened One Night” (for those REALLY new agents).
PROSPECTING – Looking for business, like prospecting for gold. This would include calling expired listings; calling FSBO’s (see above); holding open houses; answering phones in the office and sending out mailers.
RANCH or RANCHER – A one-story house of various design patterns. In it’s most simple form it may be referred to as a RAMBLER. Taken from a style common on ranches (hence the name). Certain cottage style houses of this description could be considered a BUNGALOW, and if the house is characterized by Spanish-style architecture and features, it may be a SPANISH RANCHER.
SHOPPING A CONTRACT – The act, by an agent, of letting buyers know what other buyers are offering on the same property, causing buyers to bid up the sales price. This is an illegal practice.
TOWNHOUSE – An attached house. What used to be a ROWHOUSE before marketing people took over.
END-OF-GROUP (EOG) – The last townhouse in a row.
Don’t
see a term here? Extensive vocabulary
is available under “Real Estate Terms” at RealtyComplete.com.