The Power Of Knowing The Real Estate Lingo

By
Services for Real Estate Pros with Working With Houses, LLC - Atlanta Real Estate Investments

Real Estate Lingo

Have you been in a situation where you enter into an unknown territory, and found that people have spoken a different language that you are not familiar with?  Or have you tried entering in a restaurant because you suddenly found yourself craving for a certain dish, wanting to order it but couldn’t do so because for some reason you cannot pronounce the name of the dish properly?

If your answers to my questions are yes then you are in danger of alienating yourself from what you really want.  So what you gotta do?  Simple, learn the lingo.

We have to realize that there’s power in knowing some lingo that you know it’ll be useful for you in the long run and the same holds in the real estate business.  Come to think of it, we’ve come across several borrowers in the past who are pleasurable to work with; they’ll instantly smile at you, nodding, agreeing and will just sign anything you presented to them.  Of course, it is an advantage on your part but would it not be a better world if both of you are on the same wavelength?

Check out the links to the following sites below where real estate lingo can be found:

http://lahrealestate.com/about-lah/residential-real-estate/real-estate-lingo/

http://clta.titlewizard.com/learning_center/glossary.aspx

https://www.equityclosing.com/Dictionary.aspx

Through learning and knowing the real estate lingo by heart, you gain more confidence and this particular skill will help you arrive at an efficient and sound decision.  Of course, it will help you put in a position of authority when it comes to negotiation.  Also if you can speak the real estate lingo, you’ll instantly gain credibility and relationship compared to someone who does not know the lingo at all. And yes, you can mingle with foreigners as easily as you want to and of course you can order anything that you want to eat.  Isn’t that power?

Comments (8)

Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Frank....the same can be said of new construction....there are terms to describe a variety of areas of a home under construction, i.e. birdsmouth cut....

Feb 17, 2014 06:42 PM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

It's important to keep in mind that while other Realtors and those associated with the industry will understand the lingo, our customers may not, and we can lose our connection with them by using lingo. 

Feb 17, 2014 07:08 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

This is simply a matter of experience.  That's why we have CE and broker training.

Feb 17, 2014 07:29 PM
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

Frank, I really enjoyed your post this morning. It may me think about something to expand on and write about for the last couple of weeks. Thanks for sharing.

Feb 17, 2014 09:18 PM
Frank Iglesias
Working With Houses, LLC - Atlanta Real Estate Investments - Lawrenceville, GA
Atlanta, GA Real Estate Investor

Thank you for your comment, Barbara!

That's a new lingo that I would like to remember 

Have a great weekend!

Feb 21, 2014 08:36 AM
Frank Iglesias
Working With Houses, LLC - Atlanta Real Estate Investments - Lawrenceville, GA
Atlanta, GA Real Estate Investor

You have a point there Carol and it's indeed something that we should bear in mind when using lingo. 

Have a great weekend!

 

Feb 21, 2014 09:19 AM
Frank Iglesias
Working With Houses, LLC - Atlanta Real Estate Investments - Lawrenceville, GA
Atlanta, GA Real Estate Investor

That's right, Leen. In Real Estate, continuing education is a must. Words and language evolves, it's not static. We have to realize that using lingo within the right context may efficiently convey meaning especially to real estate professionals.

Have a wonderful weekend Leen!

 

Feb 21, 2014 09:39 AM
Frank Iglesias
Working With Houses, LLC - Atlanta Real Estate Investments - Lawrenceville, GA
Atlanta, GA Real Estate Investor

You are very welcome, Winston! And thank you for dropping by 

Enjoy your weekend!

 

Feb 21, 2014 09:46 AM