Decoding Real Estate Jargon: What Every Buyer and Seller Needs to Know

By James AndersonLast Updated April 23, 2025

Introduction

Navigating the real estate world can be overwhelming, especially when confronted with unfamiliar terms and acronyms. Whether you are buying, selling, or investing, understanding these concepts is crucial for making informed decisions, protecting sensitive information, and getting the best value. This article breaks down some of the most commonly asked-about terms in real estate, explains their significance, and provides actionable guidance for accessing related services and protecting your interests.

What Does ‘Redacted’ Mean in Real Estate?

Redacted refers to the process of removing, obscuring, or blacking out sensitive information in real estate documents to protect privacy and comply with legal regulations. In the real estate context, redaction is used to prevent the disclosure of personally identifiable information (PII) such as Social Security numbers, bank account details, and even full property addresses or owner names in certain public documents. This is essential for protecting clients from identity theft, harassment, and other risks [2] .

For example, suppose a property record is made public. The names and contact information of the owner may be redacted if the owner is a public official, or if the property is involved in sensitive negotiations. Redaction is also used to comply with laws like the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR) [1] . Real estate agents, brokers, title companies, and attorneys are responsible for ensuring that sensitive data is properly redacted before releasing documents to the public or third parties [5] .

To ensure your data is protected during a real estate transaction, you can request that your agent or legal representative review all documents for sensitive data before sharing them. It’s also a good practice to ask how and where your information will be stored, and what steps are being taken to ensure confidentiality.

What Does GLA Mean in Real Estate?

GLA stands for
Gross Living Area
. This measurement is critical in residential real estate because it defines the total square footage of a property’s livable, finished, and above-grade space. GLA typically includes bedrooms, bathrooms, kitchens, living rooms, and any finished areas that are heated and accessible by a finished staircase. It does
not
include basements (unless finished and above grade), garages, balconies, or unfinished spaces.

Appraisers use GLA to determine property valuations, and buyers often compare GLA figures when choosing between listings. To verify GLA, you can request the most recent appraisal report from the current owner, or consult your local property assessor’s office. When evaluating a home, always clarify which areas are included in the GLA and request a copy of the floor plan or measurement standards used. The American National Standards Institute (ANSI) provides widely accepted guidelines for measuring GLA in the United States.

If you are unsure about the GLA of a property, consider hiring a certified appraiser or a licensed home inspector. Many local real estate boards and the Appraisal Institute provide searchable directories to find qualified professionals in your area.

What Does RVM Stand For in Real Estate?

RVM typically means
Realtors Valuation Model
. RVM is an automated property valuation tool created by the National Association of Realtors (NAR) and used primarily by real estate professionals. Unlike general Automated Valuation Models (AVMs), which use public data and algorithms, RVM incorporates MLS (Multiple Listing Service) data, sales history, and local market trends, resulting in more accurate property value estimates for both buyers and sellers.

RVM estimates are accessible through platforms like Realtors Property Resource (RPR), which agents can use to generate pricing reports for clients. If you want to get an RVM for your property, contact a licensed real estate agent who is a member of the NAR. Agents can access these reports and explain the differences between an RVM, AVM, and a full appraisal. Keep in mind that RVMs are tools for guidance and do not replace a certified appraisal required by lenders.

If you wish to learn more or access a report, request that your agent provide an RPR-generated property report, and ask how the RVM figure was calculated for your address.

What Does BAC Stand for in Real Estate?

BAC most commonly stands for
Buyer Agent Commission
or
Broker’s Agent Commission
. This refers to the percentage of the sale price or a flat fee that the seller’s broker is offering to the buyer’s agent for bringing a buyer to the transaction. BAC is disclosed in the MLS and is a critical factor in how agents are compensated for their work.

For example, a BAC of 2.5% on a $400,000 home means the buyer’s agent would earn $10,000 if the sale closes. The exact percentage is negotiable and can vary by region, brokerage, and property type. BAC is typically paid by the seller as part of the total commission, but buyers should always confirm this with their agent before entering into a contract.

To find out the BAC being offered on a home, ask your agent for the MLS listing details or consult the listing agreement. If you are considering selling, speak with your broker to understand how BAC is structured and what is customary in your market. Always get commission arrangements in writing and clarify any additional fees or terms before signing a contract.

What Does FROG Mean in Real Estate?

In real estate, FROG stands for
Finished Room Over Garage
. This term is commonly used in certain regions, especially in the Southeast U.S., to describe a bonus room or living space built above an attached or detached garage. FROGs can serve as bedrooms, home offices, playrooms, or guest suites.

When evaluating a FROG, it’s important to consider whether it is included in the property’s GLA, if it is heated/cooled, and if it meets local building codes for finished space. Appraisers and lenders may or may not include a FROG in the official square footage, depending on access, ceiling height, and whether it is climate-controlled. Buyers should always verify the status of a FROG with a home inspection or appraisal, and ask for permits or documentation if the space was recently finished.

If you are selling and have a FROG, clarify its features and legal status in your property disclosures to avoid confusion or disputes during the transaction.

What Does COE Mean in Real Estate?

COE stands for
Close of Escrow
. This is the date when all terms of the purchase agreement have been satisfied, funds have been transferred, and property ownership officially changes hands. The COE is the final step in the home buying or selling process, and triggers the release of keys, recording of the deed, and completion of the transaction.

COE is typically scheduled several weeks after the offer is accepted, depending on loan approval, inspections, and any contingencies. The escrow officer or closing attorney coordinates the process, ensuring that all documents are signed, funds are disbursed, and title is transferred. To prepare for COE, buyers should confirm all financing is in place, conduct a final walk-through, and review the closing disclosure. Sellers should ensure all agreed-upon repairs are complete, clear the property, and be ready to sign the final documents.

If you have questions about your escrow process or COE timeline, contact your escrow officer, closing attorney, or real estate agent for detailed guidance tailored to your transaction. Many title companies and escrow firms provide checklists and resources for buyers and sellers to track the process.

Accessing Real Estate Services and Protecting Your Information

Redaction and privacy: If you are concerned about privacy or identity theft, request that your agent or title company redact sensitive information from public records whenever legally allowed. For further protection, regularly monitor your property records through your local county assessor or recorder’s office. You may also wish to consult with a real estate attorney for advice on data privacy regulations in your state.

Valuation and measurements: For accurate GLA and valuation reports, engage certified appraisers or ask your real estate agent for a recent appraisal. If you wish to verify an RVM or AVM, request a report from a licensed Realtor with access to the Realtors Property Resource platform. Always clarify which data sources were used in any valuation model you receive.

Commissions and compensation: To fully understand commission structures such as BAC, ask your agent for written disclosures and confirmation of all commission arrangements before signing any agreements. If you are unsure about typical commissions in your area, local Realtor associations or state real estate boards can provide general guidelines.

Room classifications and finished spaces: Always ask for building permits, inspection reports, and appraisals when evaluating finished spaces like FROGs, as their inclusion in official square footage can affect property value and loan approvals.

Closing and escrow: To ensure a smooth COE, closely follow your escrow officer’s instructions, review all documents carefully, and communicate openly with your agent to resolve any issues before closing day.

Practical Steps to Find Reliable Information and Support

For verified resources and official guidance:

Contact your local Realtor board or association for referrals to licensed professionals and up-to-date market information.
Request property records and valuation reports from your county assessor’s office or recorder’s office. Many counties provide online search tools for public records.
For questions about redaction and privacy rights, consult a real estate attorney or visit your state’s official Department of Real Estate website for consumer protection information.
To understand commission structures and agent compensation, review the National Association of Realtors’ Code of Ethics or ask your broker for written policies.
If you are buying, selling, or refinancing, ensure you know your COE date and responsibilities by requesting a written timeline from your escrow or closing agent.