In order for your real estate purchase or sell to be official in Contra Costa County, including the smaller cities of Walnut Heights, Moraga, Oakley, Orinda, Pacheco, Discovery Bay, El Cerrito, and Hercules, you must sign a written contract. It must include the following:

• Identification of parties involved: both the seller(s) and the buyer(s) of the real estate
• Identification of the real estate property
• Identification of the purchase price
• Signatures by all parties involved
• A legal purpose
• Consideration: This is something of value that is bargained for in exchange of the real estate. Usually the form of consideration used is money, but, for example, other property could be used in the exchange.
• Contingencies (conditions) that must be met if the contract is to be performed. Certain types of contingencies include inspection, appraisal, another sale contingency, etc.

There are many types of real estate sales agents in Contra Costa County that provide all types of real estate services. Following is a list of the most popular real estate agents.

There are many types of real estate sales agents in Contra Costa County that provide all types of real estate services. Following is a list of the most popular real estate agents.

• Broker associate
  This is a real estate broker who works for another real estate broker. Though they could choose to work independently, many real estate brokers choose to join a larger real estate network.
• Real estate agent
  This is a licensed salesperson. Unlike a real estate broker, a real estate agent must work for an employing real estate broker rather than independently. Requirements for a real estate agent vary from state to state.
• Realtor
  This is a title that simply means the individual belongs to the National Association of REALTORS (NAR). A realtor can be either a real estate broker or a real estate agent. Members of NAR also belong to state and local trade associations.
• Buyer’s agent
  A buyer’s agent is also known as a selling agent. Though a buyer’s agent may work with both sellers and buyers, it is not usually in the same transaction.
• Dual agent
  A dual agent represents both the seller and the buyer.
• Transaction agent
  A transaction agent writes an offer for the buyer. They do not represent either party but, rather, facilitate the transaction.
• Real estate broker
  A real estate broker usually has more education than a real estate agent. A real estate broker typically has a four year degree as well as the completion of eight college-level real estate  courses that qualify them to take the broker’s real estate exam. However, if the real estate broker does not have a four year degree, two years of real estate sales experience will qualify them to be able to take the eight college-level real estate courses. Thirdly, lawyers who belong to the bar can qualify to be a real estate broker if they pass the exam.

There are also many different types of listing agreements. The best choice for you will depend on your ability and willingness to undertake some of the home selling requirements. It also depends on the climate of the real estate market in your area.

• Exclusive agency listing
  In this type of listing, the broker represents the owner; however, the owner still has the right to sell the property without paying a commission.

• Exclusive right to sell listing

This type of listing gives the exclusive right to earn a commission. The broker represents the owner and is responsible for bringing a buyer either directly or through another brokerage. The owner is responsible for paying both the selling broker fees and the listing. If you as the owner sells the property in your own, you must pay a commission to the broker.

• Exception to the contract

This type of listing allows the seller a certain number of days to sell the property without owing a commission.

• Length of listing

This listing agreement negotiates the duration of the listing. Common terms include 30 days, 90 days, six months, one year, or more.

• Selling commission

This determines the total percentage of commission that will be paid to the selling agent versus the listing broker. By determining a larger amount to the selling office, it can motivate a real estate agent to worker harder to sell your property.

• Cancellation of contract

This type of listing allows you as a client of the real estate agent to be released from a contract if you are unhappy or dissatisfied with the service.

• Open listing

This lets owners sell the home by themselves; however, they must pay a broker to represent the buyer if a real estate agent finds a buyer to purchase the real estate property. If, on the other hand, they find a buyer themselves, they won’t owe anybody a commission.

• Expiration of contract

This type of listing means that, if the owner and broker do not renew a contract, the owner must still pay a commission to the broker if the property is purchased by a prospective buyer (whose name is given to the owner by the broker) within a specified time period.

There are many types of real estate sales agents in Contra Costa County that provide all types of real estate services. Following is a list of the most popular real estate agents.

• Broker associate
  This is a real estate broker who works for another real estate broker. Though they could choose to work independently, many real estate brokers choose to join a larger real estate network.
• Real estate agent
  This is a licensed salesperson. Unlike a real estate broker, a real estate agent must work for an employing real estate broker rather than independently. Requirements for a real estate agent vary from state to state.
• Realtor
  This is a title that simply means the individual belongs to the National Association of REALTORS (NAR). A realtor can be either a real estate broker or a real estate agent. Members of NAR also belong to state and local trade associations.
• Buyer’s agent
  A buyer’s agent is also known as a selling agent. Though a buyer’s agent may work with both sellers and buyers, it is not usually in the same transaction.
• Dual agent
  A dual agent represents both the seller and the buyer.
• Transaction agent
  A transaction agent writes an offer for the buyer. They do not represent either party but, rather, facilitate the transaction.
• Real estate broker
  A real estate broker usually has more education than a real estate agent. A real estate broker typically has a four year degree as well as the completion of eight college-level real estate  courses that qualify them to take the broker’s real estate exam. However, if the real estate broker does not have a four year degree, two years of real estate sales experience will qualify them to be able to take the eight college-level real estate courses. Thirdly, lawyers who belong to the bar can qualify to be a real estate broker if they pass the exam.

There are also many different types of listing agreements. The best choice for you will depend on your ability and willingness to undertake some of the home selling requirements. It also depends on the climate of the real estate market in your area.

• Exclusive agency listing
  In this type of listing, the broker represents the owner; however, the owner still has the right to sell the property without paying a commission.

• Exclusive right to sell listing

This type of listing gives the exclusive right to earn a commission. The broker represents the owner and is responsible for bringing a buyer either directly or through another brokerage. The owner is responsible for paying both the selling broker fees and the listing. If you as the owner sells the property in your own, you must pay a commission to the broker.

• Exception to the contract

This type of listing allows the seller a certain number of days to sell the property without owing a commission.

• Length of listing

This listing agreement negotiates the duration of the listing. Common terms include 30 days, 90 days, six months, one year, or more.

• Selling commission

This determines the total percentage of commission that will be paid to the selling agent versus the listing broker. By determining a larger amount to the selling office, it can motivate a real estate agent to worker harder to sell your property.

• Cancellation of contract

This type of listing allows you as a client of the real estate agent to be released from a contract if you are unhappy or dissatisfied with the service.

• Open listing

This lets owners sell the home by themselves; however, they must pay a broker to represent the buyer if a real estate agent finds a buyer to purchase the real estate property. If, on the other hand, they find a buyer themselves, they won’t owe anybody a commission.

• Expiration of contract

This type of listing means that, if the owner and broker do not renew a contract, the owner must still pay a commission to the broker if the property is purchased by a prospective buyer (whose name is given to the owner by the broker) within a specified time period.

Below are key terms and their descriptions used by real estate sales agents. These will help you navigate your way through the real estate sales process.

a-frame homes
A-frame houses feature steeply-angled sides that usually begin at or near the foundation line and meet at the top, creating a home that looks like the letter A.

Also known as: a frame houses, timber frame house plans, steel frame house, a frame house designs, timber frame house, a frame house plans, timber frame house kits, a frame house kits, timber frame houses, how to frame a house, framing a house, timber framed houses

annual percentage rate (APR)
This is a value created according to a government formula. Its purpose is to reflect the true annual cost of borrowing in the form of a percentage.

Also known as: annual percentage rate credit card, apr calculator, annual percentage yield calculator, mortgage rates today, apr rates, effective annual rate formula, what are interest rates

application
This is the form used to apply for a mortgage loan. In contains information regarding a borrower’s income, assets, debts, savings, etc.

Also known as: application manager, application form, application software, common application, printable applications, online applications

appraisal
This is a written justification regarding the price paid for a piece of property. It is mainly based on an analysis of similar pieces of property that are nearby.

Also known as: home appraisal, appraiser, property appraisal, appraisal management companies, free home appraisal, home appraisal cost, house appraisal estimate, home appraisal calculator, appraisal management company

beach homes
A beach home is a home designed for the beach. Typically beach homes are a form of a vacation home rather than a permanent residence.

Also known as: beach homes for rent, beach home rentals, beach homes for sale, beach rental homes, luxury beach homes

bill of sale
This is a written document that transfers the title to personal property.

broker
Most realtors are agents who work under a broker. However, some agents are brokers as well. A broker is a person who acts as an agent by bringing together two parties for any type of transaction. The broker earns a fee for doing so.

Also known as: mortgage broker, stock broker, brokers, online broker, brokerage, commodity broker, best broker, broker comparison, real estate broker, direct access broker, online brokers, discount stock brokers, cheapest online broker

chalet-style homes
Reminiscent of homes on alpine ski slopes, chalet style homes are rustic homes based on Swiss alpine cottages. They have a rectangular shape, big lofts, large windows, and steep gabled roofs.

clear title
This is a title that is free of legal questions regarding ownership of the property. It is also free of liens.

Also known as: clear title loans, salvage title, title company, title companies, clear title company

closing
This is a reference to the meeting where all documents are signed regarding the sell or purchase of a property and money changes hands.

Also known as: closing costs, closing a sale, closings, escrow, closing sales

commercial properties
This is land or buildings that are used for the purpose of generating a profit. Commercial property includes medical centers, office buildings, industrial property, retail stores, shopping centers, warehouses, farm land, multifamily housing buildings, etc.

commission
Most real estate agents earn commissions for the work that they do. The commissions are paid out of the charges paid by either the seller or buyer in the purchase transaction.

condominiums
This is a large property complex that is divided into individual units. Each unit is owned by an individual who has a form of property ownership that includes a fractional interest in the common areas of complex.

Also known as: condominiums for rent, condos for sale, new condominiums, condominium sale, new condominium, condos for rent

credit
This an agreement in which a borrower receives something that is of value in exchange for a promise to repay the lender by a specified date.

Also known as: credit report, free credit score, credit history, annual credit report, credit report free, free credit check, credit bureaus, credit agency, check credit score, check credit, credit score free, credit ratings, free credit report, credit agencies, credit bureau, online credit report, free credit scores, credit report agencies

debt
This is an amount owed to another person or institution.

Also known as: freedom debt, debt consolidation, debt relief, debt consolidation loans, credit card debt, debt consolidation programs, debt help, credit debt, debt relief, debt reduction

deed
This is the legal document the conveys the title to a property.

Also known as: land deeds, real estate deed, quick claim deed, deeds of trust, warranty deed, quit deed, deed transfer form, deed forms, reconveyance deed

escrow
This is an item of value, money, or documents that are deposited with a third party to be delivered upon the fulfillment of a condition. An example would be earnest money is deposited in escrow and then delivered to the seller when the transaction is closed.

Also known as: escrow agent, escrow services, in escrow, escrow service, online escrow, escrow real estate, escrow agents

green homes
Green homes are built using a process that is environmentally responsible and resource-efficient throughout the building’s life-cycle. This “green” process includes design, construction, operation, maintenance, renovation, and demolition. The purpose of a “green” home is to reduce the overall impact of the home on the human health and natural environment.

Also known as: prefab green homes, green home design, green home building, green homes plans,, building a green home, green modular homes, green home products, green home construction, green home designs, green home plans, green home floor plans, affordable green homes

home equity line of credit
This is a mortgage loan that allows the borrower to obtain cash that is drawn against the equity of his home. There is usually a predetermined amount of money that can be obtained from a home equity line of credit.

Also known as: home equity lines of credit, home equity line of credit rate, home equity line of credit bad credit, home equity line of credit loans, home equity line credit, home equity line of credit calculator, home equity line, home equity line of credit rates, home equity lines, home equity line of credits, equity line of credit, home equity loan, equity line of credit rate

home inspection
This is a thorough inspection by a professional for the purpose of evaluating the structural and mechanical condition of a property.

Also known as: home inspection checklist, home inspection costs, home inspection list, cost of home inspection, home inspection cost, new home inspection, home inspection service

lender
This is a term which, in real estate terms, refers to the institution making the loan to the buyer.

Also known as: private lenders, subprime lenders, subprime mortgage lenders, hard money lender, private money lenders, payday lenders, money lenders, loan lenders, private loan lenders, home lenders, home equity lender

lien
This is a legal claim against a property. A lien must be paid off when the property is sold.

Also known as: lien release, property lien, definition lien, liens, real estate lien, lien on property, lien waiver

line of credit
This is an agreement by a financial institution to extend a certain amount of credit for a specified time to a borrower.

Also known as: personal line of credit, business line of credit, line of credit calculator, lines of credit, home equity line of credit, line of credit loans, line of credit rates, business lines of credit, equity line of credit, line of credit loan, unsecured personal line of credit, commercial line of credit, equity lines of credit

loan
This is a sum of borrowed money, also called principal, that is typically repaid with interest.

Also known as: debt consolidation loan, loans, loan rates, personal loan, personal loans, financial loans, loan calculator, unsecured loan, loan amortization

modular homes
These are constructed of pre-made parts called modules that are transported from the factory to the building site.

note
This is a legal document that obligates a borrower to repay a mortgage loan at a specified interest rate during a stated period of time.

power of attorney
This is a legal document that authorizes another individual to act on one’s behalf. A power of attorney can be limited in regard to authority or to a certain period of time. A power of attorney can also be granted complete authority.

Also known as: limited power of attorney, power attorney, power of attorney real estate, durable power of attorney form, special power of attorney form

Also known as: pre approved mortgage, mortgage pre approval, pre approved, fha pre approval, online mortgage pre approval, pre approval for home loan, pre approval home loan, pre approval mortgage, loan pre approval, pre approval calculator, mortgage prequalification, pre approve mortgage

principal
This is the amount borrowed or remaining unpaid. The principal is the part of the monthly payment that actually reduces the remaining balance of a loan.

promissory note
This is a written promise to repay a specified amount over a specified time period.

Also known as: promissory note form, free promissory note form, secured promissory note, loan promissory note, promissory note sample

rental properties
These are properties that include lands, buildings, units, or rooms that are available for or being rented.

Also known as: private owners rental properties, rental properties management, rental property software, commercial rental properties, local rental properties

split-level homes
This is a style of house in which the floor levels are staggered. The main level of the house is halfway between the lower and upper floors. Usually the main level contains the normal living areas such as the living room, dining room, and kitchen. Two short sets of stairs connect the main level to the upper and lower levels. The upper level usually contains bedrooms and bathrooms while the lower level is the basement area and often has additional living areas that can include office space, a hobby area, a family room, laundry facilities, etc.

Victorian homes
Victorian homes are usually two story homes with steep roof pitches, turrets, and dormers. Typically a Victorian home has a large porch as well.

Q: Why choose a Diamond Certified real estate sales agent?
A: Diamond Certified helps you choose a real estate agent with confidence by offering a list of top-rated local real estate agents who have passed the country’s most in-depth rating process. Only real estate sales agents rated Highest in Quality earn the prestigious Diamond Certified award. Most companies can’t pass the ratings. American Ratings Corporation also monitors every Diamond Certified company with ongoing research and ratings. And your purchase is backed by the Diamond Certified Performance Guarantee. So you’ll feel confident choosing a Diamond Certified real estate sales agent.

Q: How do I know if a certain property is a good investment?
A: Your real estate sales agent should be able to help by providing plenty of information regarding property in the area from low end to high end. They can even provide historical information regarding how properties in the are have performed as well as an educated guess as to where they are going.

Q: How should I choose a realtor?
A: Ask about experience. Learn how many clients that real estate agent worked with in the last year or so and request permission to contact them.

Q: How can I maximize the value of my home?
A: There are several things that you can do to make a house more desirable for potential buyers. This is called staging. A good real estate agent will be able to help you stage your property in an effective manner.

Q: What about doing more extensive improvements?
A: Some improvements will pay for themselves when you sell the property. But this all depends. A knowledgeable real estate sales agent will be able to advise you.

Q: How can I build equity into my home besides making monthly mortgage payments?
A: Always try to send in a little extra. This extra amount will go directly to the principal of the loan rather than interest. Even $50.00 per month extra can build your equity quickly. It can also knock years off of your loan.

Q: If I want to purchase a home and I know the seller already has an agent, can I act as my own agent and negotiate a lower fee?
A: Most likely, you don’t have the knowledge needed to represent yourself. The seller pays the real estate commission rather than the buyer. The real estate commission is already set in the listing contract. It actually doesn’t cost you anything to have your own agent represent you because the seller is paying for it already.

Q: What is a housing ratio?
A: This is the percentage of your housing payment to your monthly gross income. Lenders use this ratio to determine how much money they will loan you.

Q: What is a spec house?
A: This is a home that was built without it being requested or ordered by a buyer. A spec house is not customized or built to a particular buyer’s tastes.

Q: What is an appraised value?
A: An appraised value is an opinion regarding a property’s fair market value based on an appraiser’s analysis and inspection of the property.

Q: What is an assessed value?
A: This is the public tax assessor value of a property. It is determined for the purpose of taxation.

Q: What is depreciation?
A: This is a decline in the value of property due to general wear and tear.

Q: Why should I use a real estate agent?
A: A real estate agent acts on your behalf by providing you with guidance and advice while helping you buy or sell a home. An agent will be able to provide you with current information in a fast changing market that will be critical to your success in either purchasing or selling a home.