Hearing the pros talk about real estate can sound like a different language. How well can you speak real estate?

What's the difference between an agent and a broker? What's a balloon mortgage? These kind of questions can leave a person feeling like they're getting in over their head.

The good news is, even though these topics can be important in specific situations, they won't be equally important to everyone in the home buying process. But, it can still be helpful for students (and teachers) to quiz themselves in a low stakes activity.

A bonus idea, after learning about the process of buying a house (using NGPF's new Buying a House mini unit) you can encourage students to use context clues from what they've learned to make their best educated guess on these more niche questions.

How well can you speak real estate? Click the photo below or check out the quiz to find out!

Questions:

• What terms were you already familiar with? How did you learn about them?
• What new terms stuck out the most to you? Why were they more interesting than others?
• Do you think it's necessary for someone buying a house to know every possible term about real estate? Explain why or why not.
• Describe what you would do if you were in the process of buying a house and you encountered a topic you didn't know much about or felt like you were becoming confused.

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NGPF's Buying a House mini unit has more lessons and activities for students looking to learn more!

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Looking for more interactives? Be sure to check out the NGPF Interactive Library. 

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.