Real Estate Acronyms
As we continue to become more and more digitally focused, real estate acronyms have become a staple in social media and other reading/writing platforms.
While reducing the number of words you type can save time, it can also confuse your reader. When writing we must make sure we stay professional and separate texting a friend from crafting business content for your marketing strategy.
Knowing some brief rules with acronyms can help you save time and space while keeping your message clear and professional.
It is important to understand proper usage of acronyms, when to use, when not to use and important to educate yourself on acronyms used in your specified industry.
1. Proper Usage – There are many rules for using acronyms. I will only list a few. (Feel free to add any important rules you use)
a. Acronyms are used to avoid the repetitive use of long cumbersome titles.
Ex. OSHA – Occupational Safety and Health Administration
b. When using acronyms in our writing we must find ways to define the acronym such that readers will fully understand.
c. In short text acronyms are defined at the first use in the text with a parenthetical reference after the full title.
Ex. Clarity Equity Group (CEG) is a boutique commercial real estate investment firm.
2. When to use vs. When not to use?
a. When on the phone it is okay to use acronyms because you can offer an explanation. I would still be careful and gauge your usage based on the relationship and content.
b. It is Ok to shorten names of recurring titles.
c. It is not okay to send through emails. You have no way of knowing if the reader understands you.
d. Not Ok for websites, memos, fliers etc. Again, no way of knowing if the reader understands you. This also can be interpreted as being lazy.
3. A few acronyms in our real estate sector
a. CMBS – Commercial mortgage-backed securities
b. FDIC – Federal deposit insurance corporation
c. NOI – Net operating income
d. DSCR – Debt service coverage ratio
e. HELOC -Home equity line of credit
Things to Remember:
1. Acronyms are very useful if used properly. Educate yourself on proper usage to ensure you do not damage credibility when starting new relationships.
2. Don’t give potential or current clients a reason to think you are unqualified or hard to communicate with because you were too lazy to write out a full word or phrase, and don’t assume that your readers will know the same acronyms you know.
3. Acronyms are used to avoid repetitive use of long titles. In order to do so you must first introduce and define your acronym at the first point of use in a text with a parenthetical reference like explained above.
By: Fletcher L. Clardy III