Industry acronyms are the ‘Insiders’ way of getting the information to you in as few words as possible. Is an acronym really a word?
If you use spellcheck in your favourite writing application or program, it definitely counts as a word, so who are we to argue? I have to confess; having worked in several industries over my extensive adult working life (Yes, I am over 30!), you can see duplications everywhere, but also there are traps for the weary.
In education, PP is short for Pupil Premium, but in property it is generally regarded as Purchase Price, imagine the conversation between a teacher and an estate agent!
JVC in medicine is one of the main veins to the heart, but in property it generally means Joint Venture (Contract), imagine that conversation.
When I became a School Governor, one of the first things they gave me was a glossary of abbreviations used in the realms of education. This document was lengthy to say the least, but it did help with all the jargon during the meetings and with all the paperwork that we needed to digest for the monthly meetings. So, I thought it would be nice to produce a glossary for the property investment industry.
I am sure there is something for everyone, and having compiled it, I did raise a smile at a few of the double meanings across the sectors, perhaps you can find a few more? Let me know, this is not an exhaustive list.
There are actually two documents, one is just the acronym and the extended words, and the other is a more detailed information sheet, The former is a free tool to use and you can get it by clicking the link here
The latter is an exclusive ‘members only’ style document that I give to my clients at their initial consultation (amongst other things) as a thank you.
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