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10 Terms Everyone in the Real Estate Business Should Know

Written by Zak K.

10-terms-everyone-in-the-real-estate-business-should-know

Fun fact: There are over 100 common real estate terms that are synonymous with home buying and selling that are important. However, we have compiled a list of 10 terms that everyone in the real estate business should know to secure a smooth sale.

1) Value Added Services

Having a preferred vendor database will make roadblocks in the process a flawless transition for your clients. It will reduce stress in these situations by knowing it is someone you trust.

2) Home Staging

It is important to present the property in a professional manner. Let the staging company do the dirty work with the homeowner to get the home market ready. In addition, vacant homes sell faster with furniture placed in the home.

3) Professional Photographs

Don’t cut corners in showcasing the home. In 2018, 44% of home buyers looked online first. Entice potential buyers with professional photos displaying the features of the home.

4) Pre-Market Home Inspection

Homebuyers almost always have a home inspection performed prior to closing the deal. However, this can lead to a delay in closing or loss of a deal completely if something is detected. Have the seller do a home inspection of their own before listing. This will give them an opportunity to fix any issues allowing for a quick sale.

5) Mold Remediation

This is one of the most common issues that can ruin an offer. Discovery of mold in the basement, crawl space or attic needs to be handled quickly and effectively. Have recommendations on hand for your clients.

6) Odor Remediation

Cigarette, pet, food odors are all smells that will turn a buyer right around at the door. Spending money on odor remediation before the open house will limit the amount of time a property is on the market.

7) Declutter

A lived in house is not attractive when bringing people through. Be sure the house is removed of excess toys, furniture, wall hangings, clothes and extra clutter from closets. There isn’t a space that is safe from the potential home buyer taking a look. Tidy and organized spaces are calming and inviting.

8) Sensory Refreshment

Encourage the homeowner to place smell throughout the house. Subtle hints of cinnamon rolls in the kitchen, lavender or jasmine in the bedrooms and citrus in the family room will trigger positive feelings with those walking through the home.

9) Curb Appeal

Fresh landscaping, decorating the front entrance and freshening up the exterior are the biggest factors in a home’s first impression.

10) Color Matters

Big bold colors are subjective. It is best to recommend that the customer paint a pleasing “generic” color in common spaces like the kitchen, dining room and family rooms so the prospective buyer can picture their furnishings in the space.

In today’s market, homebuyers can afford to be choosy. A home for sale can easily be passed over if it is not ready. By knowing these 10 terms, you can guide the homeowner on a path to success and show them why you are a top agent.

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Topics: Mold, Odors

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