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Florida Real Estate License > 01 Overview of the Real Estate Business > Flashcards

01 Overview of the Real Estate Business Flashcards

1
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Residential Homeowner

A

COMMON REAL ESTATE SPECIALTIES

Sells primary residences to homeowners

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2
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Residential Investment

A

COMMON REAL ESTATE SPECIALTIES

Sells residential property to investors

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3
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Commercial Sales

A

COMMON REAL ESTATE SPECIALTIES

Sells commercial property to tenants (including offices, industrial spaces, PUDs, and retail)

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4
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Commercial Leasing

A

COMMON REAL ESTATE SPECIALTIES

Leases commercial property to tenants (including offices, industrial spaces, PUDs, and retail

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5
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Property Manager

A

COMMON REAL ESTATE SPECIALTIES

Leases and manages residential investment property on behalf of the owner (for a fee)

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6
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Agricultural

A

COMMON REAL ESTATE SPECIALTIES

Sells farm land and other agricultural properties

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7
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Unimproved Land

A

COMMON REAL ESTATE SPECIALTIES

Sells unimproved land to investors or subdividers

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8
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Residential Leasing or
Apartment Broker

A

COMMON REAL ESTATE SPECIALTIES

Leases residential properties for landlords or helps residential tenants find homes to rent

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9
Q

01.1 COMMON REAL ESTATE SPECIALTIES

Foreclosure, Short Sale, or REO Specialist

A

COMMON REAL ESTATE SPECIALTIES

Sells distressed properties in short sales or helps buy distressed properties in short sales or foreclosure auctions

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10
Q

01.1 Introduction to the Real Estate Business and Brokerage

Key Terms:
Real Estate Brokerage

A

Introduction to the Real Estate Business and Brokerage

The businesses of overseeing, consummating, and completing real estate transactions and business by bringing together the parties to a transaction

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11
Q

01.1 Sales, Leasing, and Counseling

Types of Residential Property

A

Residential real estate can include:

  • Single-family residences
  • Vacation properties
  • Multi-family residences
  • Townhouses
  • Condominiums
  • Apartment buildings
  • Manufactured homes
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12
Q

01.1 Sales, Leasing, and Counseling

Types of Commercial Property

A

Commercial real estate can include:

  • Office buildings
  • Retail complexes
  • Gas stations
  • Entertainment venues
  • Restaurants
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13
Q

01.1 Sales, Leasing, and Counseling

Commercial property revolves around the idea that…

A

Commercial property revolves around the idea that commercial properties generate revenue for their owners.

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14
Q

01.1 Sales, Leasing, and Counseling

Types of Industrial Property

A

Industrial real estate can include:

  • Manufacturing plants
  • Distribution facilities
  • Warehouses
  • Storage facilities
  • Research facilities
  • Data centers
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15
Q

01.1 Sales, Leasing, and Counseling

Types of Agricultural Property

A

Agricultural real estate can include:

  • Family and commercial farms
  • Ranches
  • Orchards
  • Nurseries and greenhouses
  • Pastures
  • Feed lots
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16
Q

01.1 Sales, Leasing, and Counseling

Business Real Estate

Business brokers and business real estate is unique in that these transactions can include both:

A
  • Tangible property, such as grass and a real home you can touch
  • Intangible property, such as a business model or restaurant with award-winning
    recipes you can’t always physically touch.
17
Q

01.1 Sales, Leasing, and Counseling

A special-purpose property is a property created with …

A

…special, and often limited, purpose in mind.

18
Q

01.1 Sales, Leasing, and Counseling

Types of Special-purpose Property

A

Special-purpose real estate can include:
* Churches
* Schools
* Recreational facilities
* Cemeteries
* Government-held land

19
Q

01.1 Sales, Leasing, and Counseling

A
20
Q

01.1 Sales, Leasing, and Counseling

A
21
Q

01.2

A

Florida Real Estate License (2 decks)

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