As with all industries, real estate professionals have developed a lingo and acronyms to help them communicate with each other more easily and to get as much information as possible on the listing. For a first-time home-buyer,making sense of property listings provided by your realtor can sometimes leave you feeling like your deciphering the DaVinci Code. Lets take a look at a sample property description in a real estate listing:
2,500 sf on a c-d-s, 2.5BA,CA, SPAC RM w/WBFP,GRMT KIT,DET GAR
Looks a lot like alphabet soup. Some other abbreviations you'll probably encounters are:
- C-D-S: Cul De Sac
- EIK: Eat in Kitchen
- FDR:Formal Dining Room
- GRMT KIT: Gourmet Kitchen
- GRT RM: Great Room
- HDW: Hardwood Floors
- OFC: Office
- PVT: Private
- SF: Square Feet
- VW,VU: View
- WBFP: Wood Burning Fireplace
In addition to the abbreviations in property listings, here are a few other common terms you should become familiar with.
MLS-Multiple listing service. MLSs are comprised of a group of real estate brokers who have agreed to share their property listings. This is then provided to the group through a database or directory. If you are buying your home, this is the service that your sales professional will use to search for potential homes for you to purchase. If you are selling your property,you real estate professional will list your home through MLS.
CMA-Comparative Marketing Analysis. The analysis a formal assessment of a propert's market value , This is one of the tools your real estate professional can use to help you determine a reasonable sale price for a property you are considering. Usually , the CMA compares the property you are considering with similar properties that have sold in the area within a certain in time frame.
By the way, the listing above was a 2,500 square-feet home on a cul-de-sac, with two bedroom sand two and a half baths, central air, a spacious great room with a wood -burning fireplace and a gourmet kitchen and detached garage. During the real estate process, you'll more than likely come across more acronyms and lingo. Make sure you contact Domenic Manchisi at domenicmanchisi.com to explain any terms you are unfamiliar with so that you are not in for any surprises.
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