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A handy guide of definitions and abbreviations for commonly- used industry and association terms. It is organized by category and where applicable, contains links to the resource. Quickly navigate this tool to find the content you need by using the search feature within the table or sorting by a specific column.

Don't know where to start? Use the search function to filter through the glossary by the various categories, which are listed below for a quick reference:

  • Finance - Government Loans
  • Finance - Housing Finance System
  • Finance - Lender Terms
  • Finance - Title/Vesting
  • Lending - Applying for a Mortgage
  • Transaction - Legal Terms
  • Transaction - General Real Estate
  • Transaction - zipForm® 
  • Industry - Roles in a Brokerage
  • Industry - Housing Market Data
  • Industry - Other
  • AOR - General
  • AOR - C.A.R. Networking Groups
  • AOR - C.A.R. Events
  • AOR - C.A.R. 501(C)(3)/Foundations


Category Term Abbreviation Definition
Finance -Government Loans
Federal Housing Administration FHA FHA was founded in 1934 through the National Housing Act and as of 1965 is the administrative loan arm of the Department of Housing and Urban Development (HUD). FHA insures mortgages made by private lenders for single-family properties, multifamily rental properties, hospitals, and residential care facilities. FHA mortgage insurance protects lenders against losses.
Finance -Government Loans
U.S. Dept. of Veterans Affairs VA This is a mortgage loan to purchase or refinance, that is guaranteed by the United States Department of Veterans Affairs.
Finance -Government Loans U.S. Department of Agriculture Loans USDA A zero-down payment, low interest rate mortgage that is available for low- income borrowers in rural areas.
Finance -Government Loans
Secondary Mortgage Market    Established underwriting standards, purchases loans from lenders and guarantees them for capital market investors. The secondary market includes Freddie Mac, Fannie Mae, Ginnie Mae and Private Investors.
Finance -Government Loans
Federal National Mortgage Association FNMA or Fannie Mae Fannie Mae is one of two government-sponsored enterprise (GSE) that purchases mortgage loans from smaller banks or credit unions and guarantees, or backs, these loans on the mortgage market for low- to median-income borrowers. Currently it is the leading source of financing for mortgage lenders and it ensures that those borrowers will be supported by financing through this Insurance that makes sustainable homeownership.
Finance -Government Loans
Federal Home Loan Mortgage Corporation Freddie Mac One of two government sponsored enterprises GSE Investor sources on the secondary market. Federal Home Loan Mortgage Corporation’s (FHLMC) (nicknamed Freddie Mac) mission is to promote stability and affordability in the housing market by purchasing mortgages from banks and other loan makers.
Finance -Government Loans
Government National Mortgage Association GNMA or Ginnie Mae The Housing Act of 1968 establishes Government National Mortgage Association (Ginnie Mae) to expand availability of mortgage funds for moderate income families using government guaranteed mortgage-backed securities. GNMA works to expand affordable housing by guaranteeing housing loans thereby lowering financing costs such as interest rates for those loans. It does that through guaranteeing Investors through on-time payments of mortgage-backed securities, even if homeowners’ default on the underlying mortgages and the homes are foreclosed upon. 
Finance -Government Loans
Department of Housing and Urban Development HUD Moved from being a part of FHA out of the US Housing Act in 1937 to become a Cabinet level Agency to overseeing FHA and other entities in 1965. HUD provides housing and community development assistance and to make sure everyone has access to “fair and equal” housing, after the Civil Rights Act in 1968 (aka Fair Housing Act).
Finance - Housing Finance System Home Equity Line of Credit HELOC A loan in which the lender agrees to provide funds more than the current indebtedness on a home based on its current value and a predetermined maximum Combined Loan to Value (CLTV) of the home. This loan is provided over an agreed period, where the collateral is usually considered the borrowers Equity in their home.
Finance - Housing Finance System Real Estate Settlement Procedures Act  RESPA   Requires lenders and others involved in mortgage lending to provide borrowers with pertinent and timely disclosures regarding the nature and costs of a real estate settlement process. RESPA was also designed to prohibit potentially abusive practices such as kickbacks and referral fees, the practice of dual tracking, and imposes limitations on the use of escrow accounts.
Finance - Housing Finance System Truth In Lending Integrated Disclosure TRID United States federal law effective 2015, mixing the Truth in Lending Act (TILA) & Real Estate Settlement Procedures Act (RESPA) both from 1974, now utilized to designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the way costs associated with borrowing are calculated and disclosed. This reduced from 4 existing disclosure documents to two key documents that have specific timelines and delivery methods into the Loan Estimate (LE) and the Closing Disclosure (CD), that are similar layout for all borrowers. 
Finance - Housing Finance System Appraisal   An evaluation of a real estate property made by a neutral third party known as an appraiser, where an estimation of a homes current market value is made.
Finance - Housing Finance System Private Mortgage Insurance PMI Also known as private mortgage insurance, is a type of mortgage insurance from private insurance companies used with conventional loans. Similar to other kinds of mortgage insurance policies, PMI protects the lender if you stop making payments on your home loan. PMI can be arranged by the lender and provided by private insurance companies. 
Finance - Housing Finance System Brokers Price Opinion BPO Like a CMA this is an estimated value of a property that is determined by a real estate broker. It is based on the characteristics of the property that are being considered. 
Finance - Housing Finance System Comparative Market Analysis or Competitive Market Analysis  CMA Like a BPO this is the estimate of a homes value that is used to assist the sellers set their listing prices based on comparable homes in the same neighborhood. 
Finance - Lender Terms Automated Underwriting System  AUS Software applications designed to receive inputs (typically from a home loan application), gather additional data (typically from a credit report) and return automated underwriting decisions on (1) the availability of financing, (2) the terms and pricing for the loan and (3) any conditions that may apply. 
Finance - Lender Terms Loan Prospect Advisor  (used by Freddie)
(also called Loan Prospector LP)
LPA LPA is a type of automated underwriting system. That is used by Freddie Mac as their lenders originate loans for their underwriting criteria for these mortgage loans.
Finance - Lender Terms Desktop Underwriter  (used by Fannie) DU Software program by Fannie Mae that analyzes a loan application, including the credit report and of the asset documentation.
Finance - Lender Terms Government Underwriting System GUS System that is responsible for providing a loan decision based on an individual’s credit history, financial position and strength. Generally used with government (FHA/USDA/VA) loans.
Finance - Lender Terms Fair Isaac Company FICO FICO was a pioneer in developing a method for calculating credit scores based on information collected by credit reporting agencies. 
Finance - Lender Terms Down Payment Assistance DPA This program offers additional funds to a borrower to alleviate down payment or closing costs. They can be sponsored by the government, a government-sponsored entity, a nonprofit organization, or even your lender. 
Finance - Lender Terms Mortgage Insurance MI Also known as a mortgage guarantee. This is an insurance policy which compensated lenders or investors in mortgage-backed securities for losses due to default of a mortgage loan.
Finance - Lender Terms Up-Front Mortgage Insurance (FHA Loans) UFMIP This is required on government home loans. The government can guarantee mortgage loans because borrowers pay a monthly mortgage insurance premium (MIP) along with this upfront MIP payment.
Finance - Lender Terms Monthly Mortgage Insurance Premium MMIP This is the monthly portion of the FHA financing along with Up Front Mortgage Insurance Premium.
Finance - Lender Terms Mortgage Insurance Premium  MIP Conventional which are less than 20% down Fannie and Freddie Loans. "Mortgage Insurance Premium (MIP) many times called PMI - which is private mortgage insurance."
Finance - Lender Terms California Housing Finance Agency CalHFA  An independent California state agency within the California Department of Housing and Community Development that makes low-rate housing loans through the sale of taxable and tax-exempt bonds.
Finance - Lender Terms Golden State Finance Authority  GSFA Golden State Finance Authority (GSFA), develops and administers programs that provide a source of financing for residential home purchases or refinances, commercial and residential energy efficiency improvement projects, multi‐family housing construction and rehabilitation projects and city and/or county infrastructure improvements.
Finance - Lender Terms Flipping   Selling within 3 months, with large value increase, may trigger Lender RED Flags. 
Finance - Lender Terms Notice of Default NOD A public notice that is filed with the Courts stating that an individual is in default on their loan.
Finance - Lender Terms Notice of Default Purchase Agreement NOD-PA This is a specific Purchase Contract created by CAR, to be used instead of the Real Estate Purchase Agreement (RPA), specifically to address properties having a public notice filed with the Courts stating that the owner of the property is default on a loan and may through these disclosures still be able to sell with clear acknowledgment by all parties.
Finance - Lender Terms Lender Paid Mortgage Insurance LPMI  The borrower’s lender in some cases may have their mortgage insurance paid upfront in one lump sum, many times either added to the loan balance or paid with Seller Concessions. Again, this is part of the one-time upfront private mortgage insurance premium required on certain FHA & VA loans. 
Finance - Lender Terms Private Mortgage Insurance PMI Type of mortgage insurance from private insurance companies used with conventional loans. 
Finance - Title/Vesting Joint Tenancy   A type of co-ownership. Property owned by two or more persons, who may or may not be married or domestic partners, in equal interests, subject to the right of survivorship in the surviving joint tenant(s). 
Finance - Title/Vesting Tenancy in Common TIC A type of co-ownership. Property owned by any two or more individuals in undivided fractional interests. Each co-tenant may sell, lease or will to his/her heir that share of the property belonging to him/her. 
Finance - Title/Vesting Community Property with Rights of Survivorship   A type of co-ownership. Property owned together by spouse or by domestic partners with the right of survivorship similar to title held in joint tenancy.
Finance - Title/Vesting Community Property-California   A type of co-ownership. This is property owned together by married persons or by domestic partners. 
Finance - Title/Vesting Owner Occupied Borrower/Co-Borrower OO This is a term that refers to a borrower that will live in (occupy) the home as their primary residence.
Finance - Title/Vesting Non-Owner Occupied Borrower/Co-Borrower NOO This term refers to a borrower that does not occupy the property.
Transaction - Legal Terms Earnest Money    A security deposit made by the buyer to assure the seller of his or her intent to purchase.
Transaction - Legal Terms Contingencies   Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc.
Transaction - Legal Terms In Escrow    Often used interchangeably with "under contract" by Realtors. In escrow a period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. During this time, the home is inspected and appraised, and the title searched for liens, etc. Whereas "under contract" means that a purchase agreement between the parties has been signed signifying that all conditions have been met. 
Transaction - Legal Terms Licensee   All individuals that have a real estate license are referred to as licensees by the Department of Real Estate (DRE).
Transaction - Legal Terms Contract   An agreement between private parties creating mutual obligations enforceable by law.
Transaction - Legal Terms Residential Purchase Agreement  RPA A binding contact between a buyer and seller for the ownership transfer of real estate in exchange for a sales price.
Transaction - Legal Terms Residential Listing Agreement  RLA A contract that grants an agent the exclusive authorization and right to sell an owner's property on their behalf.
Transaction - Legal Terms Disclosures   Real estate disclosure statements typically come in the form of boilerplate documents (put together by local or state associations) are the buyer’s opportunity to learn as much as they can about the property and the seller’s experience in it.
Transaction - Legal Terms Fair Housing   A group of laws that work together to prohibit housing providers from discriminating against persons with protected characteristics, or those belonging to a protected class in housing and housing opportunities.
Transaction - Legal Terms Walk through    A buyer’s final inspection of a home before closing.
Transaction - Legal Terms Clear to Close   Underwriter has signed-off on all closing conditions prior to release of loan docs.
Transaction - Legal Terms Lender   An individual or institution that finances a real estate transaction, usually by issuing a loan to a buyer. 
Transaction - Legal Terms Appraiser    An individual that works with an Appraisal Management Company (AMC)- which acts as an intermediary between lenders and appraisers- to administer real estate appraisals.
Transaction - Legal Terms Automated Valuation Model AVM A tool that uses data and statistics to estimate real estate market values. 
Transaction - Legal Terms Housing Inspector    An individual that inspects a home that is being sold. The inspector will then deliver reports to the buyers explaining the findings to the clients. 
Transaction - Legal Terms Escrow Officer   An unbiased third party who ensures that a real estate transaction is correctly carried out by a homebuyer, home seller and any real estate agents involved in the purchase or refinance of a home.
Transaction - Legal Terms Title Insurance Officer   Researches legal records of the real property. They are responsible for finding anything within the property history that could affect ownership rights.
Transaction - Legal Terms Housing Counselor    A financial advocate that is specifically trained to provide advice and counseling to homebuyers and homeowners.
Transaction - Legal Terms Surveyor   A person that established official land, airspace and water boundaries.
Lending - Applying for a Mortgage Adjustable-Rate Mortgage ARM  An adjustable-rate mortgage, or ARM, has an introductory interest rate that lasts a set period of time and adjusts every six months thereafter for the remaining loan term. After the set time period your interest rate will change and so will your monthly payment. 
Lending - Applying for a Mortgage Fixed-Rate Mortgage  FRM A type of loan that has an interest rate that remains constant for the entire term of the loan. 
Lending - Applying for a Mortgage Interest Rates    The percentage of principal charged by the lender for the use of its money, the principal is the amount of money that has been loaned. 
Lending - Applying for a Mortgage Debt-to-Income Ratio DTI A ratio that compares a home buyer’s expenses to gross income. 
Lending - Applying for a Mortgage Loan-to-Value Ratio LTV The amount of the loan divided by the price of the house. 
Lending - Applying for a Mortgage Combined Loan to Value Ratio CLTV The ratio of all secured loans on a property to the value of a property.
Lending - Applying for a Mortgage Pre-Approval   A thorough assessment of a borrower’s income, assets and other data to determine a loan amount they would qualify for. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home.
Lending - Applying for a Mortgage Pre-Qualification   A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. 
Lending - Applying for a Mortgage Conditional Approval   Underwriter has approved the file with conditions to be satisfied prior to closing.
Lending - Applying for a Mortgage Funding Conditions   Borrower’s credit, income, and assets are updated and reviewed prior to funding.
Lending - Applying for a Mortgage Jumbo Loan   Also referred to as a non-conforming loan. This loan exceeds or does not conform to the guidelines of Fannie Mae and Freddie Mac.
Lending - Applying for a Mortgage Conventional Loan   A home loan not guaranteed by a government agency, such as the FHA or the VA. 
Lending - Applying for a Mortgage Principal, Interest, Property Taxes, Homeowners Insurance, and Homeowners Association (where applicable) PITIA The components of a monthly mortgage payment.
Lending - Applying for a Mortgage Closing Costs   Fees associated with the purchase of a home that are due at the end of the sales transaction. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Buyers should budget for an amount that is 2% to 5% of the home’s purchase price.
Transaction - General Real Estate Limited Liability Partnership LLP This is where partners hold more liability, and where they carry the debts of the entity. This is another way to structure a real estate business.
Transaction - General Real Estate Return on Investment ROI  A ratio which measures the net profit vs. the cost of investment. The higher the ROI, the more profit you’re making.
Transaction - General Real Estate Net Operating Income NOI Net operating income (NOI) is a formula which measures the profit a rental property generates after covering its expenses. The NOI formula is as follows: NOI = Gross Income – Operating Expenses. In other words, the NOI allows real estate investors to better evaluate a property’s profitability in relation to income and expenses and costs. And in addition to being a good real estate metric, it will also help you assess how well your investment property is able to cover its debt or mortgage payments. 
Transaction - General Real Estate Capitalization Rate CAP Rate CAP rate, short for capitalization rate, is a measure of the profitability of a real estate investment. It’s an indicator of how much profit the property is generating compared to its value. Usually, the higher the cap rate figure, the higher the prospective profitability. The opposite is also true, meaning that the lower the cap rate, the lower the profitability. And, in theory, the higher the cap rate, the higher the risk of the investment. So, the cap rate can also be used to measure the risk of an investment to some extent. 
Transaction - General Real Estate After Repair Value ARV Value of the property after it has been repaired. 
Transaction - General Real Estate Fair Market Value FMV The value both buyers and sellers agree upon. 
Transaction - General Real Estate Gross Rent Multiplier GRM This is the number of years the property would take to pay for itself in gross received rent. For a prospective real estate investor, a lower GRM represents a better opportunity. 
Transaction - General Real Estate Homeowners Association HOA An organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents. 
Transaction - General Real Estate Internal Rate of Return IRR The method of calculating an investment’s rate of return. 
Transaction - General Real Estate Lease Option L/O A lease option is a type of agreement in which a tenant is given the opportunity to buy a property after a period of renting it. 
Transaction - General Real Estate Rent to Own RTO Similar to a lease option, the RTO allows the tenant to buy the property during the rental period. The difference between the L/O and RTO is that RTO gives the tenant more time to secure payment for the property. 
Transaction - General Real Estate Single-Family Home SGH A free standing residential building. Referred to as a single-dwelling unit. Has one owner, no shared walls and its own land. 
Transaction - General Real Estate Multi-Family Home  MFH Also referred to as a multi-dwelling unit (MDU). A structure or complex of structure that divides its internal space among several residential housing units or apartments. 
Transaction - General Real Estate Line of Credit LOC This is a payment option for non-owner occupied properties. It provides real estate investors with funds based on the equity of an investment property. 
Transaction - General Real Estate Real Estate Investment Trust REIT This is a company which finances, owns, manages, and operates income-producing investment properties. Individual real estate investors can invest their money in a REIT and typically receive dividends based on their cash investment. 
Transaction - General Real Estate Single Family Residence SFR A single family detached, meaning that the home is a stand-alone structure intended for one family. 
Transaction - General Real Estate For Sale by Owner FSBO When an owner sells their property without hiring an agent or a broker. 
Transaction - General Real Estate Real estate LLC LLC A company that is its own legal entity and is essentially a real estate business. Investors choose to form a real estate LLC for tax benefits, decreased liability, and more freedom when investing. 
Transaction - General Real Estate For Rent by Owner FRBO When an owner rents their property without hiring an agent or broker. 
Transaction - zipForm® Digital Signature   Both digital signatures and other eSignatures allow the end user to sign documents and authenticate the signer. 
Transaction - zipForm® Agent Visual Inspection Disclosure  AVID The AVID was created to assist an agent with this duty to inspect by providing more space to write comments and dividing the property into various rooms. Furthermore, the AVID clarifies the limitations of the agent's inspection.
Transaction - zipForm® Transaction   The central hub for any notes, contacts, documents, forms, messages, e-sign packets, and other information related to that property. This helps to keep everything related to the transaction in one place and prevents crucial information from being lost at a critical moment in the process. 
Transaction - zipForm® Template   Templates are pre-built sets of Folders, Forms, Documents, Placeholders, Checklists and Tasks. 
Transaction - zipForm® MLS Connect   A member benefit feature inside of zipForm that uses the MLS Listing ID to bring in pertinent property info, agent info and pricing from MLS to your zipForm transaction
Transaction - zipForm® Documents Tab   The most extensive area of the transaction. This part of the transaction contains all the documents, document placeholders and forms related to the transaction. 
Transaction - zipForm® e-Sign   An e-signature or electronic signature is an efficient and legal way to get electronic documents signed quickly. 
Transaction - zipForm® zipCommunity   You can use the zipCommunity tool to securely share documents and forms between real estate professionals and other transaction parties, such as buyers and sellers. 
Transaction - zipForm® Email to TXN   Send documents, messages and more directly to this transaction by including the transaction e-mail address in your e-mail communications 
Transaction - zipForm® Parties   You can add any kind of a party to a transaction, such as a buyer, seller, or outside agent. zipForm has pre-built profiles made for Buyer, Seller, Listing agent/broker, Selling agent/broker, Lending company (buyer/seller), Escrow officer, Attorney/Lawyer buyer/seller), Appraisal company, closure company, Home warranty company, Title company, Pest control company 
Transaction - zipForm® Checklist   Create a checklist when you need to create a to-do list of items in a transaction or template that are required to successfully complete the transaction. 
Transaction - zipForm® Placeholder   Add a document placeholder to a transaction or transaction template when you need to indicate to yourself or another user that a particular document is needed, but the document is not yet uploaded to the solution. Placeholders serve as both a reminder and a checklist to ensure that all the needed documents are present on a transaction. 
Transaction - zipForm® Profile and Settings   Set up your user profile to enable access to functionality such as signings, or to customize your user experience. Your profile contains a multitude of settings and options that can have a profound effect on what you see and do in the solution. For example, you can change your profile photo, reset your password, select the notifications you need to receive and create your email signature. 
Transaction - zipForm® Form Library   The All Forms menu shows all available libraries and forms for selection and use in your transaction. 
Transaction - zipForm® Forms Tutor   FormsTutor® explains the most highly utilized standard forms clause-by-clause, with audio and text instructions for superior ease of learning. 
Transaction - zipForm® Forms Advisor   Forms Advisor™ is an online software program that identifies which C.A.R. Standard Forms you need for your transaction. In addition, this rules-based tool creates the transaction in zipForm with the recommended forms, reducing the time spent on creating a transaction. 
Transaction - zipForm® Clauses   A clause is any pre-written verbiage that can be saved to be used in text fields inside of forms in the system. Reusing clauses that you create in the forms saves you valuable time having to copy/paste or type them out every time. 
Transaction - zipForm® Lookup Field Manager   Look up fields exist in forms while you are preparing them for use in transaction templates or for e-signings. They contain information that you have previously typed in the same field on other forms or other versions of the current form. 
Transaction - zipForm® Transaction Type   Users can create Purchase, Listing, Lease and Lease Listing transactions.
Transaction - zipForm® Transaction Category   Once the transaction type has been selected, users will choose whether the transaction is Residential, Industrial, Multiunit, Condominium etc.
Transaction - zipForm® ZFX vs PDF   ZFX files are editable and fillable. PDF files are not editable inside of zipForm, but they can be included in signature packets. 
Transaction - zipForm® OfferPlace   You can receive offers right to your listing transaction, and track offers made via the OfferPlace™ form, right inside your zipForm® Plus account. All offer activity will automatically be recorded in the transaction, which can save agents time. 
Transaction - zipForm® Elite Messaging   With iMessage, share transaction PDF documents, forms, and ListFlash® listings directly from your iPhone. Anything shared in the app is captured in the transaction history for your records. 
Transaction - zipForm® zipForm Mobile   Whether you have showings, open houses, closings or meetings with clients, use your mobile devices to conduct business from just about anywhere. 
Transaction - zipForm® Elite Agent   An upgraded suite of features not included in your member benefit offerings. Most popular is the ability to assign a Transaction Coordinator or Assistant. 
Transaction - zipForm® Record Connect   Record-Connect enables you to import listing information from a federal tax database into your transaction, populating many of the transaction's information fields with a single click. 
Transaction - zipForm® Sticky Notes   Add a note to point out important information or as a reminder related to the form, such as a list of conditions you need to follow up with on behalf of your clients, similar to adding a physical sticky note to a paper document. 
Transaction - zipForm® Marketplace/Partners   Provides a conceptual overview of the available partners and integrations you can add to your zipForm account. You can access the list of available partners and integrations by navigating to Partners in the global navigation bar. 
Transaction - zipForm® DocInbox   DocInbox lets you manage your documents and incoming offers. 
Transaction - zipForm® ePubs   ePUBS® for Transactions (zipForm Edition) is an add-on library that consists of 2 mandated and numerous consumer disclosure titles, consumer-targeted educational titles, and eco-friendly information. The most notable title in the ePUBS® for Transactions (zipForm Edition) library is a digitized version of the Combined Hazards and Home Energy Rating System(HERS) pamphlet. This library is free to C.A.R. members.
Transaction - zipForm® Dashboard   The dashboard is a set of widgets that provide a window into transaction activities, highlight listing performance and much more empowering you to manage your transactions and business with confidence. 
Transaction - zipForm® SHOP Menu   You can purchase additional products or form libraries at any time in the solution after activating your account. 
Transaction - zipForm® AIR Forms Library   AIR CRE Contracts Library is ideal for the agent who wants to take the next step towards Commercial Real Estate.
Industry - Roles in a Brokerage REALTOR®   REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the local, state and national trade associations; subscribes to its strict Code of Ethics; and completes ethics training every 3 years. 
Industry - Roles in a Brokerage Real Estate Agent   A person who sells and rents out buildings and land for clients. While all REALTORS® are real estate agents, not all real estate agents are REALTORS®. 
Industry - Roles in a Brokerage Broker   Also referred to as a Real Estate Broker. They are defined as a person who represents sellers and buyers of real estate. 
Industry - Roles in a Brokerage Broker Associate   An individual licensed as a real estate broker, but who works in the capacity of a salesperson for another responsible broker or corporation.
Industry - Roles in a Brokerage Broker of Record   A licensed real estate broker responsible for one or more licensed real estate agents involved in representing a buyer or seller in real estate transactions. They may also supervise leases and other property transactions. 
Industry - Roles in a Brokerage Office Manager   A real estate licensee who will (1) take and have responsibility for the oversight and supervision of day-to-day operations of licensed activities in the branch or division real estate office and (2) be subject to potential sanctions and discipline from the California Department of Real Estate (“DRE”) for failure to properly supervise the activities of licensees which require a real estate license.
AOR - General Association Executive AE This individual recommends and participates in creating the goals, objectives and policies established by the Board of Directors of the Association and based on the direction of the Board of Directors.
AOR - General Association of Realtors AOR This is a professional organization for real estate agents and other industry professionals. 
AOR - General Board of Directors BOD Research and formulate policy on all areas affecting the business, professional practices, and public policy involvement of Relators. 
AOR - General Continuing Education  CE  Continuing Education Units and training for new and existing members.
AOR - General Designations and Certifications e.g. SRES, GRI, ATWD Education to distinguish and brand REALTORS® through specialized niche markets.
AOR - C.A.R. Networking Groups Latino Professionals Network LPN An inclusive community that is dedicated to amplifying the voices of Latino REALTORS® in California. 
AOR - C.A.R. Networking Groups WomanUP®   C.A.R.’s Women’s Initiative is a free community where mentors and leaders can communicate, collaborate, advocate for, and support one another for women to step into brokerage leadership roles.
AOR - C.A.R. Networking Groups Young Professionals Network YPN  The Young Professionals Network (YPN) helps young real estate practitioners become more business savvy by hosting regular networking events, communicating with other YPN members, and sharing tips and tricks. 
AOR - C.A.R. Events Center for California Real Estate CCRE An institute of C.A.R. providing information and insights about critical issues affecting the real estate industry in California. The CCRE gathers key experts and decision makers for thought-provoking discussions, conducts research in collaboration with academic partners, and provides solutions for major industry issues. 
AOR - C.A.R. Events Legislative Day Leg Day An all day event where 2,000+ California REALTORS® have the opportunity to meet and discuss real estate related issues directly with their state legislators and staff. 
AOR - C.A.R. Events REImagine! REI Education events sponsored by C.A.R.'s Transaction Rescue Helpline for REALTORS® focused on financial literacy. This program provides relevant information about credit scores, financial planning, leveraging down payment resources and options for low to moderate income earners to assist your clients. 
AOR - C.A.R. Events STEPS Towards Homeownership STEPS Education events sponsored by C.A.R.'s Transaction Rescue Helpline for REALTORS® focused on financial literacy. This program provides relevant information about credit scores, financial planning, leveraging down payment resources and options for low to moderate income earners to assist your clients. 
AOR - C.A.R. 501(C)(3)/Foundations Californians for Homeownership    A 501(c)(3) non-profit that works to address California’s housing crisis by enforcing these laws and fighting unlawful policies that limit access to housing affordable for families at all income levels. 
AOR - C.A.R. 501(C)(3)/Foundations Disaster Relief Fund    A non-profit 501(c)(3) that provides grants to help members of the REALTORS® family — REALTORS®, their staff, and association members and their staff — who incur substantial losses due to the wildfires. 
AOR - C.A.R. 501(C)(3)/Foundations Education Foundation   A 501(c)(3) non-profit that provides real estate and education related grants/scholarships to California REALTORS® and residents. 
AOR - C.A.R. 501(C)(3)/Foundations Housing Affordability Fund  HAF A 501(c)(3) non-profit dedicated to addressing California’s growing housing affordability crisis by raising and distributing funds in partnership with local associations and other housing non-profit groups to promote housing and homeownership. 
AOR - C.A.R. 501(C)(3)/Foundations REALTOR® Party of California RPAC The REALTOR® Party of California raises money to promote the values, attitudes, and beliefs of organized real estate.
AOR - C.A.R. 501(C)(3)/Foundations Scholarship Foundation   A 501(c)(3) non-profit that provide scholarships to California students attending a two-year College or four-year University pursing a real estate related career. 
Industry - Other Department of Real Estate DRE Safeguards and promotes the public interest in real estate through matters of licensure, regulation, education, and enforcement. 
Industry - Housing Market Data Unsold Inventory Index UII  Number of months it would take to deplete the remaining inventory at the end of a month with the sales rate of the month in consideration. Inventory includes listings with “Active”, “Pending”, and “Contingent” (when available) statuses. 
Industry - Housing Market Data Lockboxes   Digital lockboxes that can be opened by Bluetooth® or infrared signals. A data record is created when a lockbox is opened, so real estate agents can obtain real-time showing information. Some lockboxes may be combination in which a listing agent must provide a showing agent a combination code.
Industry - Housing Market Data Year to Date YTD The percent change of the cumulative year-to-date sales to the same period of the previous year. 
Industry - Housing Market Data Year to Year YTY  Year-to-year percent change when compared to the same month of the previous year. 
Industry - Housing Market Data Area Median Income AMI  This is a statistic that is used by the U.S. Department of Housing and Urban Development to determine the eligibility of applicants for certain federal housing programs
Industry - Housing Market Data Median Price   The price point at which half of homes are above and below the specific metric being measured.
Industry - Housing Market Data Days on Market DOM Number of days properties were on the market before going pending/escrow opens. This is a good indicator of buyer demand in a given market. 
Industry - Housing Market Data Active Listings   The number of homes available for sale during the time period being measured. 
Industry - Housing Market Data Existing SFR Home Sales   Number of Single-Family Residence (SFR) homes sold during the month. A negative % change from last year means that there were fewer homes sold compared to same time last year. A positive % change from last year means that there were more homes sold compared to same time last year.
Industry - Housing Market Data Existing SFR Median Price   The median price of Single-Family Residence (SFR) homes sold during the month. A negative % change from last year means that homes were less expensive compared to same time last year. A positive % change from last year means that homes were more expensive compared to same time last year.
Industry - Housing Market Data Attached Dwelling Unit ADU  A residential unit that can be added to a lot with an existing single family home. ADUs can be detached (a separate building in a backyard), attached to or part of the primary residence, or a garage conversion. ADUs are independent rental units that have their own kitchens, bathrooms, living areas, and entrances. Also referred to as granny flat, casita, backhouse, guesthouse.
Industry - Housing Market Data Sales-to-List Price %   The final sale price at close of escrow relative to the seller's asking price. This is a measure of discounting. If the sales-to-list price ratio is below 100%, sellers are typically receiving less than their full asking price for their homes. If the sales-to-list price is above 100%, sellers are typically receiving more than their full asking price for their homes.
Industry - Housing Market Data Sales Over List   Percent of sales that sold above listing/asking price so far in the current year. This is a good indicator of market competition and price stickiness. The higher the share of sales above listing/asking price, the more competitive a given market has been throughout the year.
Industry - Housing Market Data % of Active Listings Reduced   The percentage of homes available for sale that have reduced their asking price. This is another measure of discounting. A high percentage of active listings reduced suggests that more sellers in the market lowered the asking price of their homes, while a low percentage of active listings reduced suggests that fewer sellers in the market lowered the asking price of their properties.

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