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real estate term

“Licensees, Principals, Subagents & Brokers (Oh, my!)”

“Who’s on First?” — Real Estate Edition Exactly what role(s) do licensees, principals, agents, subagents, brokers, dual agents, and facilitators play in residential real estate in Minnesota? Consumers, I’m sure, have no idea. But their Realtor does. Moreover, it’s incumbent upon their Realtor to (briefly) explain it to them, at the beginning of the relationship. Step #2:  document that they’ve...
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The Downside of Touting Upside

The Doubled-Edged Sword Called “Potential” Although you wouldn’t necessarily believe it looking at all the MLS listings with the word “potential” in them, Realtors use the term carefully, if not reluctantly (or at least I do). That’s for two reasons: One. Beauty is in the eye of the beholder — at least to a point...
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Spike in Number of “Normal” Sales in Twin Cities

As Opposed to “Abnormal” Sales?? In the course of checking MLS for new listings a couple times daily, it sure seems (at least to me) that there’s been an increase in the number of “normal” sales lately. What’s that about? Instead of using “traditional sale” — the accepted term for a sale that isn’t a short sale or...
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“De-Clutter” vs. “Trash-Out”

It Depends Who’s Talking “Have you ever noticed that their stuff is sh*t and your sh*t is stuff?” –George Carlin Part of real estate sales — make that a big part — is handling clients with sensitivity and respect. That’s especially true for elderly clients, who haven’t moved in decades and have strong emotional ties...
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What’s the Counterpart to a “FSBO?”

“UB?”  How About “UO” (“Uhh, Ohh!”) What’s the counterpart to a FSBO (Realtors’ term for a “For Sale By Owner”)? I suppose that would be an unrepresented Buyer. But interestingly, there’s no analogous, universally recognized term (“UB,” anyone??) One possible reason:  the way today’s housing market works, Sellers pay the Buyer’s agent. If the Buyer elects not to...
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"MFOTH" – Defined

WTF?? If you’re slightly dyslexic like I am, you can be temporarily thrown by the MLS category “MFOTH.” No, it’s not what it sounds (a lot) like. It stands for “Multi-Family, Other.” (And no, “BMF,” “HMFIC,” “BAMF,” and “DTMF” have nothing to do with real estate.)
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