Glossary of Real Estate Terms

Real Estate Agents sometimes seem to talk a different language. This can be referred to as agent’s jargon! They may invite you to an OFI, or ask you to sign a 22A, but what they forget most of the time is that these terms are foreign to most consumers.

Here you will find the answers to all your questions about real estate documentation and terminology. From documents used of list your property for sale, through to words used and abbreviations frequently used by real estate agents in Australia.

If you’re in the process of buying, considering selling, about to rent, or planning a future in the property industry, here’s a resource for you to find the answers to your real estate questions!

Whilst we try to maintain this list and keep it updated regularly, please let us know if we may have missed something. Legislation is regularly updated especially when it comes to Pool fence compliance and Sustainability Declarations. Here you can find the latest versions of downloadable real estate forms.

The sale and marketing of real property has become more sophisticated since the development of the internet. When real estate agents were limited to expensive newspaper adverting, many agents were forced to abbreviate just about everything in their advertisements. This was a constant form of amusement, but it did make it difficult for buyers, who may have looked at an advertisement like 2brms, ens, slug,ofp,wir,aircon, bv, ofi 12-12:30, close to trans.

Nowadays the need for abbreviation is not there, because an agent can write as much about the property as he or she likes and basic inclusions such as air-conditioning, en-suite, swimming pool are tick box features on most websites! In case you’re wondering, some of the most common abbreviations used in ads were:

DLUG – Double Lockup Garage

SLUG – Single Lock Up Garage

OFP – Open Fire Place

WIR – Walk in Robe

BV – Brick Vaneer

Lowset – A home built on the ground by slab or short posts

Highset – A house built on poles or stumps

SS – Single Story

DS – Double Story

SB – Solid Brick

A full set of real estate abbreviations can be viewed here.

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