Real Estate Terminology Buyers Need to Know

By
Real Estate Agent with Coldwell Banker Access Realty ~ 478.960.8055 anita@cbssk.com

Buyer Real Estate Terminology

Real Estate Terminology Buyers Need to Know 


Real Estate Terms for Buyers

Let's face it, the language real estate professionals take for granted can be completely overwhelming for consumers. Buyers in particular often have a difficult time with the lingo industry pros use, especially first-time buyers. 

While agents do their best to educate consumers, there are times where we talk over their head, they do not completely understand, or they hear some terminology and never ask what it means. Often times the implications attached to the term or phrase in question can have a direct affect on their ability to purchase a home, get a loan, or adequately handle some task or issue as they search for their dream home. 

Fortunately, I recently put together a buyer real estate terminology guide that covers many of the things they do not clearly understand. Topics such as conveyance, non-conforming use, riparian rights, and usury are briefly discussed in the article. In all, 144 terms that buyers may need to know more about are discussed. 

Follow the link to view the full list in this real estate buyer terminology guide. 

Happy House Hunting, Buyers!

~ Anita ~

Comments (51)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Anita, sometimes I am bad at using our terminology, and the client asks to explain further.    It can be mind boggling! 

Jan 17, 2016 10:13 PM
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

That is a very good idea and I think I will add this to my consultation! Thanks for sharing it with us!

Jan 17, 2016 10:30 PM
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

Great post.  Terminology clarification  is always helpful and we need to be reminded to ensure our buyers or sellers are understanding the process and the impact on their transaction!  

Jan 17, 2016 10:45 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I remember coming across these terms when I was a layman and thinking...boy, these agents are super stars...Who could know all this?

Jan 17, 2016 11:39 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Agreed Janis. They can be confusing to real estate consumers.

With so many terms, it is bound to happen. Thanks Frank.

A welcomed surprise, Roy. ;-)

No doubt Joan. Especially when they have never heard it mentioned before.

You betcha. Thanks so much, Shannon.

As you know, the more we educate the better equipped they are. Thanks Shirley.

Richie: All the more reason for consumers to seek out agents who can provide them with the best service possible.

Jan 18, 2016 12:09 AM
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Wow, that is an all-inclusive and extensive terms list you put together Anita. That must have taken some time!

Jan 18, 2016 12:19 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Easy to learn real estate lingo and forget that others are in the dark on what the heck the terms and abbreviations really mean. Take the Greek or Latin, Klingon or Vulcan out of it for your buyers (and sellers too!)

Jan 18, 2016 01:31 AM
Gerhard Ade
RSVP Real Estate - Seattle, WA
What sets me apart, will set you apart.

Where I do business, the most confusing term is "Selling Agent". That's the agent representing the buyer. Explain that to a buyer. Buyers see that term in the contracts. One buyer asked: "I thought you were representing me?"

Jan 18, 2016 01:48 AM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

It sure did, Nicole. Thanks a bunch.

Making it as simple as possible is the smart move, Andy.

Gerhard: It can be quite confusing!

Jan 18, 2016 08:09 AM
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Great list, Anita!  

     Many Clients/Customers will enjoy scrutinizing those terms.  Many will come running to their Agent for help, when they realize the complexity of a real estate transaction.

Jan 18, 2016 08:54 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Thanks for sharing this Anita Clark - goes into my presentation folder for buyers. Really appreciate it.

Jan 18, 2016 02:00 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

As they should, Fred. Hopefully their agent will educate them on the terms.

Happy to assist, Praful. Enjoy.

Jan 18, 2016 06:57 PM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Anita, I love this post. Real estate really does have it's own language and buyers will find this so helpful!

Jan 18, 2016 10:14 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

I thought it was needed as well. Thanks Amanda.

Jan 19, 2016 06:38 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

We do talk in jargon and acronyms and sometimes forget that the public has no idea what we are saying.

Jan 20, 2016 07:03 AM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Debbie: We really do and most of the time we do not realize we are doing it. 

Jan 20, 2016 08:30 AM
Mike Martin
(909) 476-9600 ~ WeLoveSellingRealEstate.com - Fontana, CA
Realty Masters & Associates

What a complete and extensive list of real estate terms.  That took some time!

Thanks for sharing

 

Jan 23, 2016 06:19 AM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

It did take awhile to put together. Thanks Mike.

Jan 23, 2016 07:26 AM
MaryBeth Mills Muldowney
TradeWinds Realty Group LLC - Braintree, MA
Massachusetts Broker Owner

Great idea Anita Clark, we all have our own jargon and just do not realize how imbedded it is in our conversations.

Jan 23, 2016 11:24 AM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

MaryBeth: It is so true and the words come out of our mouth's without even thinking the other party may have no idea what we are saying.

Jan 23, 2016 07:56 PM

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