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Chapter 1

REAL ESTATE 101

REAL ESTATE TRANSACTIONS REFRESHER

The Fair Housing Act

The Fair Housing Act, originally passed in 1968 and amended in 1988, is a federal law in the United States that prohibits discrimination in housing.

 

Seven "classes" are protected under the Fair Housing Act:

 

  1. Race                     

  2. Sex

  3. Color

  4. Disability

  5. Religion

  6. Familial Status

  7. National Origin

You can learn more about The Fair Housing Act at www.HUD.gov

The Multiple Listing Service (MLS)

The Multiple Listing Service is a proprietary database of all properties currently under an active listing contract in a given area.

 

All active agents and brokers who belong to this MLS will have access to information about your property listing. Buyer's agents searching for a new home for their clients will learn about your property listing through this online database.

 

Real Estate Portals

Real estate portal websites like Zillow and Realtor.com are data aggregators on listing information. The marketing information on your listing will be syndicated to real estate listing portals in order to draw in the largest possible market of interested buyers.

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