Hawaii Randy's Real Estate Opinions

Real Estate Slang, Phrases and Terminology

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.

 

--------------------------------------------------------------------------------------------------------

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

Comment balloon 48 commentsRandy Prothero • November 22 2006 11:31PM
Real Estate Slang, Phrases and Terminology
share
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… more
Is Your Contract Clean?
share
The last couple of years we in were in a market where homes were getting multiple offers. Everything sold; seller's were not overpriced they were just ahead of their time. People of all walks of life were jumping into the profession and hitting… more
Waikiki is the Place to Be
share
I was driving out to my open house yesterday and it hit me. The sun was up, the birds were singing and the surf was perfect. But something was wrong with this picture… more
Brokers Open Houses are on the Rise
share
In Honolulu I am seeing more and more and more broker's open houses in the middle of the week. The hard part for those holding them is the only available agents are at their own open houses. I have received notices of more open houses for tomorrow… more
Military Bases are a Great Source of Clients
share
If you are near a military base there are many opportunities for selling homes and picking up buyers. Active duty military not only a base pay, but a housing allowance. In expensive places such as Hawaii they also receive a cost of living allowance… more
Are You a Secret Agent?
share
I am completely amazed when other Realtors ask me about my car magnets, advertising, real estate shirts etc. I am constantly asked if these things are effective and would I… more
A Tip for Updating Old Signage
share
I recently needed to update my signage when I got my brokers license. I also had signs old signs with and without my designations from various times in my career. An old trick I used in the old days of helping political candidates is to match the… more
We Need More Control Over Licensing of Loan Officers
share
As a real estate agent, I have spent a lot of time and money to ensure that I have the best training and knowledge. The state required me to take as tough exam and get continuing education. I carry E&O insurance and subscribe to an ethics code… more
Home Inspector Home Inspector Who Art thou?
share
In Hawaii we have no specific requirements for someone to call themselves a home inspector. I have seen several people such as sports announcers decide to start a new business. You guessed it. They are now a home inspector. What makes them feel… more
Internet is a Great Tool, But it Does Not Sell Property
share
As I sit at my computer and ponder the direct our business is heading it strikes me that there are two groups of sales professionals out there. Group #1: (Mostly those of us over 40 years old) Depends on relationships and one on one encounters to… more