Crucigrama 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). 1 4 2 6 3 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? 2 1 5 3 4 1 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 4 A type of speculative home where the buyer chooses from model floor plans 1 4
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