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Real Estate Study Guide: Chapter 1

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Real Estate Study Guide: Chapter 1 Vocabulary

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Real Estate Study Guide: Chapter 1Versión en línea

Real Estate Study Guide: Chapter 1 Vocabulary

por Gab Jarmoszko
1

A professional service; people are hired to maintain and management property on behalf of the property owners. (2 words, no spaces).

2

The scope of the work a property manager performs, such as the compensation structure, is detailed in the ___. (2 words, no spaces)

3

If a property manager is paid by commission or on a transactional basis, they must be licensed as an ______. (2 words, no spaces)

4

True or false? Sales associates CAN work as property managers.

5

A property owner who does not reside on the property and who often relies on a professional property manager.

6

A ____ license is required for someone managing a time share or condominium association of 10+ units (or $100,000+ budget). (Stands for Community Association Management).

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1

Brokers and sales associates can appraise property if they don't represent themselves as ________ appraisers.

2

Appraisers are not paid _________ to reduce the possibility of a conflict of interest.

3

Appraisals need to conform to _________ whether they are federally-related or not. But, only federal appraisals require licensed appraisers to do the job; a broker or agent can do an appraisal for a non-federally related transaction.

4

True or false: Compensation for doing a Comparative Market Analysis must only be paid to the broker and not directly to the sales associate.

5

CMA's and Broker Price Opinions ____ have to adhere to Uniform Standards of Professional Appraisal Practice?

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What is the order to development and construction? Here they are out of order: (S)ubdividing, (L)and acquisition, (P)lat mapping, and (D)eveloping

2

Homes built on speculation without a buyer

3

Homes built to customized specifications

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A type of speculative home where the buyer chooses from model floor plans

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