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A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
There is no single authoritative MLS. However, there is a data standard for MLS systems. The Real Estate Standards Organization provides the Data Dictionary [3] for common real estate terms and data structures, and the RESO Web API [4] for data transport. A previous common data transport standard, RETS, has been deprecated.
The Cybersecurity Maturity Model Certification (CMMC) is an assessment framework and assessor certification program designed to increase the trust in measures of compliance to a variety of standards published by the National Institute of Standards and Technology.
Real estate contingencies provide a way for one or both parties to back out of a real estate contract if certain specified conditions are not met — in other words, the sale is contingent upon ...
A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate.The designation is awarded by the CCIM Institute, formerly known as Commercial Investment Real Estate Institute (CIREI) of the National Association of Realtors. [1]
WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties.
Certified Property Manager (CPM) is a real estate professional designation awarded by the Institute of Real Estate Management (IREM) [1] and recognized by the National Association of Realtors (NAR). The Institute offers a comprehensive program developed exclusively for property and asset managers working with different size portfolios of all ...
The Mortgage Industry Standards Maintenance Organization (MISMO) is a not-for-profit, wholly owned subsidiary of the Mortgage Bankers Association (MBA) responsible for developing standards for exchanging information and conducting business in the U.S. mortgage finance industry.
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