Today the National Association of Hispanic Real Estate Professionals (NAHREP), released an English-Spanish Glossary of Real Estate Industry Terms during its 2016 National Convention and Latin Music Festival at the JW Marriott-LA Live. Unlike other glossaries, the English-Spanish Glossary of Real Estate Industry Terms provides both the technical translation for each term and colloquial terminology which are most often used by customers and practitioners.
“A home purchase is widely recognized as the most significant financial transaction most people will make in their lives. For individuals who either prefer to speak Spanish or only speak Spanish, this already complex transaction can become overwhelming,” says NAHREP President Joseph Nery. “This glossary is intended to be a guide to corporations, practitioners and governments looking to create Spanish Language resources for their clients and the general public.”
In a recent NAHREP survey, top producing Latino agents and loan officers indicated that 40 percent of their transactions make use of Spanish at some point in the transaction, and as much as 25 percent of all transactions utilize Spanish exclusively as the means of communication with their clients. In an already complex and increasingly regulated environment, NAHREP responded to the need to provide guidance and consistency on Spanish-neutral translations of the words and phrases used most frequently over the course of a real estate transaction.
For more information and/or to download a FREE copy of the glossary, visit www.nahrep.org/glossary.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.