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The term ‘instant’ refers to the fact that this type of business aims to provide a faster cash offer on a property than traditional real estate brokers. Valuation of the property takes place online and is an instantaneous or near-instantaneous process which makes use of machine learning and AI technologies.
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
Cash in advance is a term describing terms of purchase, when full payment for a good or service is due before the merchandise is shipped. This presents the least risk to a seller while having the most risk to the buyer.
A broker price opinion (BPO) is a real estate professional’s dollar estimate of a property’s worth. It is an opinion, but one often backed up by the selling prices of comparable homes in ...
Buyer Agency Agreements are where a real estate agent represents the buyer of real estate. With the advent of "Buyer Agency" (Buyer Brokerage) in the early 1990s as opposed to seller agency, a real estate Agent/Broker agrees and contracts to represent the Buyer in his purchase of a home/property. Buyer Agency Agreements were developed to set ...
A cash offer can be a really important tool in helping real estate investors get more deals because if you are able to pay cash you can close more quickly. Other lenders assist mortgage buyers compete against cash offers. For example, a mortgage company may provide a buyer a commitment prior to identifying a home.
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A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
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