Real Estate Language for First Time Home Buyers

By
Real Estate Agent with Realty Austin 0438535

I was really blessed yesterday to be a part of a training class here in Austin at the University Of Texas. 

The class was held for first time home buyers by the University of Texas Continuing and Innovative Education Program. 

I was invited by my friend in the Mortgage business, Dawn Rush Dotson ( http://dawnrushdotson.com )  to speak on behalf of the Real Estate community. 

Dawn has been spending her time, at her own expense, teaching this class for many years. As a first timer to this class, I was humbled to see how so many of the words and language we use as Realtors® are foreign to this younger generation we were speaking to. 

Words like Promulgated contract, Mortgage, depreciation, equity, amortization were requested to be explained in depth.

I did enjoy Dawn's game of allowing the class to "call us out" if they felt we were using a word or term that was not mainstream and if they caught us they got a lottery scratch off ticket! 

We as Realtors® should be aware as to the level of experience we possess and dial in that knowledge and project it in such a way that our clients and customers totally understand where we are coming from. 

The first time buyer experience is a powerful responsibility for we as agents. 

Let's do OUR Real Estate Industry proud. 

 

Posted by

Steve Siegwalt Realtor®

Realty Austin 

My Website

512-745-5880

Comments (3)

Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

There really is a lot of real estate jargon that we toss around  all day !

Jun 18, 2016 11:34 PM
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I rmemember someone asking what is FSBO?  We have to be careful to explain everything

Jun 18, 2016 11:59 PM
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

It is best to explain words that we use daily to first time home buyers. Make them feel comfortable with the process.

Jun 19, 2016 12:14 AM

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