Agents’ jargon – a property investment guide

photo credit: Pop!Tech

As any buyer with cash at the ready now has ample opportunity to grab investment property at a reduced price in many western markets, attention invariably turns back to estate agents again.

It turns out they’re not all bad – some are actually very good at valuing houses, with about 60 per cent of those based in the UK delivering estimates close to the eventual selling price. This was published by the Royal Institution of Chartered Surveyors (RICS) and at least increases the chances of a property investor getting what they pay for, in Britain at least.

Estate agent language is universal the world over and some common phrases can be found in property ads, almost regardless of where you live. Decoding this remarkable lingo is step one in the process to landing an investment property.

So, here’s a quick reference guide to some typical estate agent terms and their possible meanings. You may want to print this page and use it when browsing some listing sites and local newspapers.

‘Studio Apartment’

Either a spacious, modern flat. Or a glorified bedsit.

‘In need of some attention’

Run-down money pit

‘Period property’

Anything built before 1990

‘Modern development’

Anything built after 1990

‘Ideal for students’

Because no-one else would want to live in it

‘Adjacent to local transport links’

Next to the train station

‘Low-priced for quick sale’

The owners are sick of paying tax on an empty house

‘Compact’

Tiny

‘Must view to appreciate’

Our photo makes it look crap