Real Estate Slang, Phrases and Terminology

By
Real Estate Broker Owner with Island Style Realty Inc. RB-19250
http://actvra.in/Fc2

I hope this will help clear up some confusion among real estate professionals and the public.

In the course of doing business we constantly see phrases, terms and slang used to describe property.  Some are subjective which makes it at times confusing.  I will attempt to clear up a few and I will ask you to chime in with a few of your own.

In Hawaii we list the condition of homes and condos in one of the following categories:

Excellent Condition:

  • according to seasoned agents - ready to move in and has upgrades
  • according to new agents - recently painted
  • according to discount brokers - recently cleaned

Above Average Condition:

  • according to seasoned agents - ready to move in, no upgrades
  • according to new agents - recently cleaned
  • according to discount brokers - no junk cars in the yard

Average Condition:Carport

  • according to seasoned agents -needs paint and carpet
  • according to new agents - needs minor repairs, paint and carpet
  • according to discount brokers - needs repairs and has junk cars in the yard

Fair Condition:

  • according to seasoned agents - needs larger repairs, paint and carpet, probably dirty
  • according to new agents - needs major repairs, not livable
  • according to discount brokers - house fell down living in junk cars in the yard

Poor Condition:

  • according to seasoned agents - needs major repairs, possible tear down
  • according to new agents - house burned down
  • according to discount brokers - there used to be house there

Here are a few others I have heard:

  • While traveling in Branson Missouri - Gentle  slope means the side of a cliff
  • From one of my sellers - Partial Ocean View means if you go to the upstairs bedroom and stand on a chair you can see the ocean in a distance over the homes and trees. (This was real.  I am 6'4" and with the chair could barely see it)  I did persuade him to let me leave that out of the listing.
  • From an area limited services broker - Detached home with a large garage is a duplex (attached home) with a shared open carport
  • From a FSBO - Newly remodeled kitchen equals new refrigerator
  • From a local mortgage broker - No down payment means you get a $20,000 credit from the seller to pay closing costs
  • From rookie agent -  Maintenance fee includes Cable TV means the condo has a cable outlet.
  • From another one of my sellers - Professional landscaping means he paid someone to cut the grass.
  • From a potential client -  Excellent conditional and worth $200,000.00 more than any other in the neighbor.  Her explanation was that her 40 year old home had all the original cabinets and appliances.  You will not find that anywhere else.
  • From an area Realtor - Vintage décor means yellow shag carpet and avocado appliances.

This was a sampling of some I have run into in Hawaii.  I am sure each part of the country has some unique to their market.

Posted by

 

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Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

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Tags:
real estate
slang
phrases
terminology
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Comments 48 New Comment

Rainmaker
617,313
Randy Prothero
Hawaii REALTOR, (808) 384-5645
Island Style Realty Inc.

Allison - And a full diaper always smells bad

Mitchell - I just sold a studio in Honolulu where the seller's agent insisted it was a 1 bedroom.  I asked him to show me the bedroom.  I also asked him to show me in the tax records where it was a one bedroom.  His response was that is what everyone calls them.  I disagreed, we called it a studio in our offer.  It was the lowest sale of the year for me.  It closed and turned out to be my messiest escrow ever.

November 24, 2006 05:06 PM
Anonymous #46
Anonymous
Kathleen Chang

Real Estate Agents are optimists!!

March 09, 2009 10:05 PM
Rainmaker
617,313
Randy Prothero
Hawaii REALTOR, (808) 384-5645
Island Style Realty Inc.

Kathleen - The successful one are optimists.  The less than honest, usually do not last.

March 10, 2009 11:14 AM
Anonymous #51
Anonymous
Anonymous

You know, as an agent I have the same compaints. When checking property listings for my clients, I depend on the agent to be honest when submitting comments. Unfortunately, just as they lie to you as a client, we as agents seeking homes for buyers are also lied to, avoided, and yes we even experience unbelivable cruelty.

May 27, 2009 05:23 PM
Anonymous #52
Anonymous
Lana

Does anyone know what TGIF has to do with Real Estate.  One thought is "toes go in first" or do you think it has a deeper meening?

March 27, 2010 10:14 AM
Rainmaker
617,313

Randy Prothero

Hawaii REALTOR, (808) 384-5645
Ask me for a free valuation of your Oahu Home.
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