As with all industries, real estate professionals have developed
a lingo and acronyms to help them communicate with each other
more easily. For the first-time homebuyer (and even some veterans),
making sense of property listings can sometimes leave you feeling
like you’re deciphering the DaVinci Code.
Let’s take a look at a sample real estate listing:
2,500 sf on a c-d-s, 2BR, 2.5BA, CA, spac grt rm w/ wbfp, grmet
kit, det gar
Looks a lot like alphabet soup. However, using this type of abbreviated
property description saves valuable advertising space. Some abbreviations
you’ll probably encounters are:
• AC or A/C: air conditioning • BR: bedroom •
CA: central air • C-D-S: cul de sac • DET: detached
• DK: deck
• EIK: eat-in kitchen • F/FIN BSMT: finished basement
• BA: bathroom • FDR: formal dining room
• FP, frplc: fireplace • GAR: garage • GRMT
KIT: gourmet kitchen • GRT RM: great room • HDW, HWF,
Hdwd: hardwood
• HOA: home owners association • LR: living room
• KIT: kitchen • OFC: office • PVT: private•
SF: square feet
• SPAC: spacious • VW, VU: view • WBFP: wood-burning
fireplace floors
FSBO—For Sale By Owner. This term refers to a property
which the homeowner is trying to sell independent of a real estate
professional.
MLS—Multiple Listing Service. MLSs are comprised of a group
of real estate brokers who have agreed to share their property
listings. This listing is then provided to the group through a
database or directory. If you are buying your home, this is the
service that your sales professional will use to search for potential
homes for you to purchase. If you are selling your property, your
real estate professional can list your home through the MLS. For-Sale-By-Owner
(FSBO) properties are typically not listed through the MLS.
CMA—Comparative Marketing Analysis. This analysis is an
informal assessment of a property’s market value. This is
one of the tools your real estate professional can use to help
you determine a reasonable listing price. Usually, the CMA compares
your property with similar properties that have sold in your area
within a certain time frame. Besides purchase price, some of the
information typically listed is the number of bedrooms and baths,
approximate square footage, size of major rooms, amenities such
as fireplaces and pools, age of the home, and property taxes.
During the real estate process, you’ll more than likely
come across more acronyms and lingo. Make sure you ask your real
estate professional to explain any terms you are unfamiliar with
so that you are not in for any surprises.
By the way, the listing above was a 2,500 square-feet home on
a cul-de-sac, with two bedrooms and two and a half baths, central
air, a spacious great room with a wood-burning fireplace, and
a gourmet kitchen and detached garage.
