Time to bring it home. Find zipForm®, transaction tools, and all the closing resources you'll need. Except for the champagne — that's on you.
Time to bring it home. Complete transactions and contracts electronically through zipForm®.
Realtor® Secure Transaction is your place to discover, access and master the essential tools for a modern, efficient and secure transaction.
Transaction management and forms software with all the must-have features, including current statewide contracts, local forms, and more.Transaction Products Service Providers Forms Libraries Training and Support
Free advice to help you understand the form you're using with Forms Tutor® and identify which form you need for your transaction with Forms Advisor™
C.A.R. Standard Forms are developed by the C.A.R. Legal Department which gathers input from real estate professionals and attorneys to create user-friendly, comprehensive, and dependable forms.
Become certified as a Home Inspector or connect with a certified Inspectors and Transaction Coordinator.Inspector Certification Program Transaction Coordinator Directory
Advice, support and materials to improve your transactions.
We're here to help, people! Business products and tools to empower REALTORS®.
Your one-stop-source for exclusive offers, discounts, and free trials.
Everything you need for a successful property management & leasing business
A collection of educational and technology resources designed to help you achieve profitability and better prepare for your financial present and future.
Download the latest C.A.R. mobile apps, including CARmojis & Stickers, C.A.R., Legal Hotline, CA REALTOR® EXPO, and zipForm Mobile.
Help potential buyers open the door to home-ownership by searching from over 400 available down payment assistance programs throughout California.
Q: Where do I go to get legal questions answered? A: Easy, look to the right!
Legal articles, many in question and answer format, are currently available on over 150 subjects in 50-plus categories.
The Legal Action Fund advocates the REALTOR® point of view and assists in lawsuits pivotal to the real estate industry. Learn more about how the Legal Action Fund supports you in your business.
Quick Guides (1-page articles) and PowerPoint presentations on key legal topics.
Wish you could catch up on California real estate law without having to read even more documents? Relax and watch a video as C.A.R.’s Legal Live Webinars bring you up-to-date on the hottest topics in real estate law.
While you’re driving to your next meeting, would like our attorneys to update you on how to best protect yourself and your clients? Subscribe to our Legal Matters Podcast, and we’ll bring the most critical information right to your device.
Need help on a legal issue? First, pick one of the topics.
Important industry cases, resources and informationSmall Claims Court
Current legal developments, C.A.R. legal products and services.Realegal®
Help, I need backup! Whether it's legal or financial help you need, C.A.R.'s got your back with these resources.
If you're a member looking to resolve a minor dispute or communication issue with another REALTOR®, a C.A.R. ombudsman may be able to help!
C.A.R. REALTOR® volunteers are specifically trained and are available to answer questions from other members about the Code of Ethics, and can provide information and limited counseling concerning its proper interpretation.
Your lifeline to the lending community formerly known as the Finance Helpline and Mortgage Rescue™. Find contacts and answers to all mortgage related questions, and problems that arise in your real estate transaction. Get assistance today!Lending Resources
Need assistance on Transactions – zipForm Edition, purchasing a course, or other general membership questions? The Customer Contact Center is only a phone call away.
The C.A.R. Real Estate Mediation Center for Consumers has mediators available to assist buyers and sellers (as well as other parties to real estate transactions) in resolving their disputes.
Did you know that for zero dollars and zero cents, you can speak with an attorney about your transaction? If you don't believe us, check it out yourself.
We offer a wide array of real estate educational courses, certifications & designations in various formats.
Easily renew your real estate license with the FREE 45 hour online license renewal package from C.A.R.
Distinguish yourself by learning how to build a business that specializes in niche markets to nearly double your earning potential in various real estate sectors
Browse our class schedule to find when and where to take real estate courses.Classes by Topic Online Bundles Risk and Education Management System Harassment Prevention Courses
Prepare to earn your real estate license with our online courses
Complete your eight-hour NMLS license renewal requirement through our NMLS-approved provider, OnlineEd
Mark your calendars for our yearly meetings and events!
The main Business Meetings page includes important links for Directors and Committee Members. The next regularly scheduled C.A.R. Business Meeting takes place February 13-16, 2024 in Monterey.Tentative Program
Check out NAR's upcoming meetings and conference schedule.
You're the brand! Use our marketing tools to tell your story.
A one-stop shop for tools and and resources to educate consumers about the intricacies of buying and selling a home and how a REALTOR® can help.Prop 19 Down Payment Resource Directory Infographics One Cool Thing Tax Reform One Sheets Fire Insurance
Explore and interact with the latest market statistics.Housing Market Summary County Market Updates Housing Perspective Market @ A Glance
Got knowledge? All the info you need on California’s housing market, economy, and issues impacting the industry.
This information is designed for Real Estate Brokers and Office Managers to assist you in supporting your real estate business.
CCRE's mission is to advance industry knowledge and innovation with an emphasis on convening key experts and influence-makers.
Frequently Asked Questions about the Tax Cuts and Jobs Act
Be trendy -- stay current with our latest market forecasts and data analyses.
The latest housing market forecast and projection to what lays ahead.
View the latest sales and price numbers. Find out where sales will be in upcoming months.
Your housing hub for market analysis, economic trends, and housing news.
Watch our C.A.R. economists provide updates on the latest housing market data and happenings... quickly!
Get a roundup of weekly economic and market news that matters to real estate and your business.
Gain insights through interactive dashboards and downloadable content.Shareable Reports Interactive Dashboards
Catch up with the latest outreaches and webinars by the Research and Economics team.
C.A.R. conducts survey research with members and consumers on a regular basis to get a better understanding of the housing market and the real estate industry.
You’ve gone pro! So here are guidelines about MLS rules and professional standards.
California Model MLS Rules, Issues Briefing Papers, and other articles and materials related to MLS policy.Statewide MLS Initiative
Looking for information on how to file an interboard arbitration complaint? You've come to the right place! Find the rules, timeline and filing documents here.
Summaries and photos of California REALTORS® who violated the Code of Ethics and were disciplined with a fine, letter of reprimand, suspension, or expulsion.
The most recent edition of the Code of Ethics and Standards of Practice of the National Association of REALTORS®.
The California Professional Standards Reference Manual, Local Association Forms, NAR materials and other materials related to Code of Ethics enforcement and arbitration.Resources for Hearings via Zoom Online Training for Professional Standards Volunteers Professional Standards Webinars Professional Standards Ambassador Program Professional Standards Administrator Certification Professional Standards Train the Trainer
An industry that works together, thrives together. Participate in legislative advocacy as a C.A.R. member!
C.A.R. advocates for REALTOR® issues in Washington D.C., Sacramento and in city and county governments throughout California.
CREPAC, LCRC, IMPAC, ALF and the RAF comprise C.A.R.'s political fundraising arm.REALTOR® Action Fund
Learn how you can make a difference, by getting involved yourself or by passing along valuable information to your clients.
Represent! Join C.A.R. in our community and foundation programs.
Californians for Homeownership was founded in response to the California Legislature’s call for public interest organizations to fight local anti-housing policies on behalf of the millions of California residents who need access to more affordable housing.
HAF plays an active role in addressing the ongoing housing affordability challenges facing California.Make A Donation
C.A.R. stands ready to assist REALTORS® who have been impacted by wildfires through its Disaster Relief Fund and NAR's REALTORS® Relief Foundation.California Wildfire Resources
Scholarships for California students planning to pursue a career in real estate.
Grants for California REALTORS® and residents pursuing real estate education.
Find out more information on key diversity and inclusion programs and projects available.Fair Housing Latino Professionals Network C.A.R. Women's Initiative
New to the industry? YPN is a network to sharpen your skills, heighten your leadership, and connect with fellow REALTORS®.Rising Star
Adding REALTOR® next to your name is cool. What comes with that title is even cooler. Check out your benefits.
As a member of C.A.R., you receive more than 100 free and discounted benefits. Find out more about your member benefits here.NAR Member Discounts C.A.R. Insurance Products
As a C.A.R. member you may have questions about your association and the industry. Find the answers here.Member FAQs Glossary Service Providers
C.A.R. provides tremendous member value through its innovative tools, services and education. Learn more about C.A.R. membership and dues and NAR membership and dues.
C.A.R.'s annual consumer advertising campaign creates awareness of the REALTOR® brand and demonstrates the many benefits of the consumer-REALTOR® relationship.
Smart Zone provides tools and insights necessary to convey your unique value proposition, effectively market your services, keep your clients abreast of current real estate market trends and help you achieve success in a dynamic industry.
Explore the implications of the landmark Burnett v NAR antitrust lawsuit's outcome for REALTORS®, the industry, and your business.
This is so us...who we are and what we do.
Meet the 2024 C.A.R. Leadership Team
C.A.R. is a statewide trade association dedicated to the advancement of professionalism in real estate.Annual Report
The CALIFORNIA ASSOCIATION OF REALTORS® is committed to bring you tools and information to help you succeed. Here are some of the innovative tools, services and education C.A.R. provided to help you achieve your professional goals.
C.A.R.'s Media Center houses the Association's news releases, media guidelines, and logos.News Releases
Whichever department you are looking to speak with, don't hesitate to reach out! We'd love to hear from you.
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
||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.|