A property owner who does not live in the property they own, often investors or individuals who have relocated and may be motivated to sell.
The process of determining which marketing activities or touchpoints contributed to a lead conversion or sale, helping optimize marketing spend and strategy.
A valuation of a property's worth provided by a licensed real estate broker or agent, often used by lenders for loan modifications, short sales, or foreclosures.
An initial meeting with potential buyers to understand their needs, explain the buying process, and establish a working relationship and representation agreement.
A prospective home buyer who has expressed interest in purchasing property, typically generated through marketing efforts, referrals, or online inquiries.
The practice of contacting homeowners in the immediate vicinity of a recently listed or sold property to generate new business and market activity awareness.
A detailed report comparing a subject property to similar recently sold properties to estimate market value and support pricing decisions.
Collaborative marketing efforts between agents, often involving shared advertising costs and joint promotion of listings or services.
The percentage of leads that ultimately become clients or complete transactions, measuring the effectiveness of lead follow-up and sales processes.
The average amount spent on marketing and advertising to generate one qualified lead, used to measure the efficiency of lead generation efforts.
A software system that helps real estate agents manage interactions with current and potential clients, track leads, automate follow-up, and organize customer data.
A prospecting method where agents visit homes in person to introduce themselves, provide market updates, or follow up on specific opportunities like expired listings or FSBO properties.
A series of pre-written, automated messages (emails, texts, or calls) sent to leads over time to nurture relationships and keep agents top-of-mind.
A situation where one agent or brokerage represents both the buyer and seller in the same transaction, requiring special disclosure and handling.
Scheduled periods when agents are available in the office to handle incoming calls, walk-in clients, and inquiries from marketing efforts.
A rental property being leased directly by the property owner without using a rental agent or property management company.
A property being sold directly by the homeowner without representation from a listing agent, often presenting opportunities for agents to provide buyer representation or convince the seller to list.
The total commission earnings of a real estate agent before deducting brokerage splits, fees, and expenses.
A marketing strategy where agents consistently target a specific geographic area with regular communication and services to become the go-to agent for that neighborhood.
A system that allows real estate websites to display MLS listings from multiple sources, enabling agents to showcase current market inventory on their personal websites.
A team member who specializes in qualifying leads, making outbound calls, and setting appointments for listing agents or buyer's agents.
A property that has recently been placed on the market, often used as an opportunity to contact neighboring property owners about market activity.
A property that has recently closed, providing market data and opportunities to contact neighbors about current market values and activity.
The process of turning a prospective client (lead) into an actual customer who signs a listing agreement, buyer representation agreement, or completes a transaction.
The systematic process of developing relationships with leads over time through consistent communication, valuable content, and personalized follow-up until they're ready to transact.
The automated process of distributing incoming leads to appropriate team members based on predetermined criteria such as geography, lead type, or agent availability.
The origin or channel through which a lead was generated, such as online advertising, referrals, open houses, or prospecting activities.
A formal presentation made to potential sellers outlining the agent's marketing strategy, market analysis, and value proposition for listing their property.
A fee structure where agents or service providers are compensated only when a transaction successfully closes, reducing upfront costs for clients.
A property that is for sale but not listed on the MLS, often marketed privately within an agent's network before going to the broader market.
A property where the owner has defaulted on mortgage payments and received notice from the lender, but the foreclosure process has not yet been completed.
A potential seller dealing with inherited property that needs to be sold as part of settling an estate, often requiring specialized knowledge and sensitivity.
A percentage of commission paid to an agent or broker who refers a client to another agent, typically when clients are moving outside the referring agent's area.
A measure of the profitability of marketing and business activities, calculated by comparing the revenue generated to the costs invested.
A homeowner who is considering selling their property and has shown interest in real estate services, often identified through market research, expired listings, or direct inquiries.
An agent's personal network of friends, family, past clients, and professional contacts who may provide referrals or become clients themselves.
Learn More
Understanding the terms is step one. Our free course teaches you how to apply them.
Turn Knowledge Into LeadsWait — Don't Leave Empty-Handed
See how agents are getting exclusive leads at lower cost than Zillow — delivered straight to their phone. No shared leads. No bidding wars.
4×
More leads
25%
Lower cost
100%
Exclusive
Free 15-minute consultation. No contracts. No pressure.