Are you guilty of any of these? Estate Agency Jargon.
December 14, 2015
While researching this article I found a few dictionary definitions of jargon that stood out.
- Special words and phrases which are used by particular groups of people, especially in their work and industry. Often not understood by ‘outsiders.’
- Unintelligible or meaningless talk or writing.
- Utter shite spouted by someone who doesn’t have the brains or energy to explain stuff simply.
I like the third explanation best. Working in Public Relations and communications means I hear a lot of jargon. It’s painful, I detest it but if I’m really honest I visit jargon land every so often.
Being a PR bloke who specialises in working with estate agents means I get to hear even more jargon than most. A double whammy if you like.
So I’ve come up with this quick 11 point jargon buster for the estate agency industry – How many of these do you use on a regular basis when speaking with an applicant / vendor?
- Vendor – The person selling a place.
- The ‘applicant’ – The person buying the place.
- Sole agent – Not to be confused with soul agent which would refer to a fan of Luther Vandross and James Brown who sells and lets properties. Basically this means the only agency selling the place.
- Chain free – This should be an easier place to buy due to the lack of people, solicitors, agents, surveyors etc involved.
- Mortgage Offer – The lender’s letter proving you have a loan for the money to buy the place.
- Conveyancing – The legal stuff that needs doing when you are buying a place.
- EPC (Energy Performance Certificate) – The piece of paper which shows how energy efficient (drafty or insulated) the place is.
- Subject to contract – You’ve agreed to buy the place, they’ve accepted your offer but everything is still in the lap of the gods until exchange of contracts (or if you are really unlucky completion) happens.
- Stamp duty – The Government tax which makes buying your place a lot more expensive especially if it’s a holiday home in Cornwall or a studio flat to rent out in Dalston(as of April 2016).
- Exchange – When everything is legally agreed by everyone involved and you can swap contracts making buying the place a whole lot more likely. At this point you can have a drink.
- Completion – The moment the place becomes yours. Keys in your hand, kiss the agent, order a take away and have another, larger drink.
I have a love / hate relationship with jargon.
I hate it, but love hearing or reading it. It’s weird.
So if you can add to my I Beg Your Jargon Hall of Fame please use written electronic correspondence techniques to engage me with your content.
Or just email me examples of jargon at Jerry@propertyprexpert.co.uk
Here’s to your next…. moment of extreme joy when someone gives you the go ahead to sell / let their place AKA…… instruction.
Jerry@propertyprexpert.co.uk
You May Also Enjoy
Can you legally BAN Halloween Trick or Treaters?
People who dread the annual knock of trick-or-treaters may have more power to keep Halloween callers away than they realise. As millions of children prepare to take to the streets on October 31, a property law expert has explained what homeowners can do if they do not want strangers walking up their path or knocking…
Read More 
What the sector need to do differently to give first time buyers a chance
By Peter Hawley, Director, SOWN (part of LRG) The mortgage and property sector needs to stop assuming that younger buyers are either ready to buy outright or not ready at all. For many, the reality is somewhere in between. They may have stable employment, a deposit and a strong desire to own, but still find…
Read More 
The 50-property tipping point: when landlords need a different approach
By Adam Hills, Client Services Director, LRG Living Markets A sizeable residential property portfolio can create significant opportunities for long-term income and capital growth. But as it expands, so does the complexity of managing it effectively. For landlords with 50 or more properties, the challenge extends well beyond finding tenants or collecting rent to communication,…
Read More 
Home is where the stress is
Couples find first-time buying more anxiety-inducing than buying solo First-time buying: Anxiety doubles when finding a home with your partner! Stress and anxiety significantly increase when buying a first home with your partner compared to flying solo The likes of searching for a property, applying for mortgages and progressing through the legalities are all significantly…
Read More 
Breaking Property News 28/10/26
Daily bite-sized proptech and property news in partnership with Proptech-X. If Zoopla is for sale, then so are you Thought leadership by Olivier Jauniaux Founder of NestLink On 14 August, Providence Equity Partners announced it had agreed to acquire Hometrack from ZPG. Bloomberg confirmed the seller the same day. Terms were not disclosed, though Real Deals, citing…
Read More
Breaking Property News 27/10/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Who controls the infrastructure, data and intelligence that runs inside commercial buildings? By Author Andrew Stanton CEO Proptech-PR Commercial real estate owners have invested heavily in technology to improve building operations, connect tenants and monitor performance. Yet behind the growing number of systems…
Read More