The National Association of Hispanic Real Estate Professionals has created a glossary that provides Spanish translations of terms used by the real estate and mortgage industries.
The glossary was unveiled during the trade association's annual convention in Los Angeles. It seeks to address the need for consistency and guidance in the Spanish translations of words and phrases used in real estate transactions.
Latino agents and loan officers said they conduct 40% of their transactions using Spanish at some point, and up to 25% of their transactions occur entirely in Spanish, a recent survey found.
"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," NAHREP President Joseph Nery said in a news release Tuesday.
Notably, the glossary provides both the technical translation and colloquial phrasing for English terms. For example, with the word foreclosure, the glossary provides both the technical phrase (ejecuci-n hipotecaria) and additional colloquial terms (embargo, reposesi-n and reposeer).
The glossary is available for download at NAHREP's website.
