Realtor Lingo
Three words I use on a daily-ish basis that someone in Real Estate may not know.
“COMPS”
The way I might use it is, “I’ve got to go back to the office and pull some comps.” When I say "Comps” I mean “Comparable Properties.” Typically I’m looking for a comparable property when I am trying to price a home. I can do this if I am attempting to help someone to list a home or if I’m helping a buyer buy a home. Which brings me to word number 2.
“LIST”
If I am “Listing” a property I am helping the seller put it on to the MLS and representing them (in one way or another) to sell their home. How I’m representing this seller and what I do for this seller all depends on how we have our relationship set up contractually. In any case I might use the word “List” by saying “Let’s get this house listed.” Which brings me to my 3rd word.
“MLS”
Technically an acronym for “Multiple Listing Service.” This used to be a physical list. Like a phone books. Agents would have to go pick them up when they were updated regularly. We don’t do books anymore. It’s all digital. I go onto my computer. I access my regional “MLS” and I type in information, details, price, etc about the house. Which makes it possible to share. So we can advertise and get it sold. Also, where I can find "Comps” and properties for my buyers. But it’s not the only place.
