A couple of weeks ago at one of my 4H meetings, I was quizzing the members on the parts of the horse and saddle. One of the members finally asked me the question of "Why do we need to know the parts of the horse"? That was a good question. So, I gave her this explanation:
Let's say your horse received an injury while being out in the field with other horses. You bring him in and you see that he will need a veterinarian's attention. You call the veterinarian and tell him your horse was injured. He in turn asks you where is the injury. Then you tell him the injury is on the leg on the whatchamacallit near the doohicky. Are you able to decipher that? I wasn't and neither is your vet. If the vet does not know where the injury is, how can he tell you what to do until he gets there? He may be tied up with another call and not be able to get to your horse right away. If he has an idea as to where the injury is located, he would be able tell you what to do until he can get there. If he has no clue where the injury is, he is unable to help and your horse will suffer in the meantime.
It's pretty much the same case with Real Estate. You need to learn the terms in order to be helpful and 
knowledgable. When someone mentions to you about eminent domain or if someone asks you about ingress and egress to a property, will you be able to answer them? Or how about if the property lies near a body of water and you're asked about riparian rights. Will you know how to answer that question?
This is why it is so important to learn the terms, no matter what your specialty or occupation. If you are knowledgable in your field, people will in turn trust and respect you because you know what you are talking about.
Jason:
Education is important in no matter what area you persue. It will determine if you succeed or fail.
Susan:
You definitely need to know the terms well enough to be able to explain in simple terms so that the common people know what it means.