Business/Economy Flashcards
Learn about economic principles and market factors influencing real estate transactions, including supply, demand, and business cycles. (33 cards)
Which real estate term is this?
Simply refers to money or funding.
Capital
Which real estate term is this?
A government fund providing money for development, financing, and modernization of public housing developments, administered by the Office of Capital Improvements.
Capital Fund
Which real estate term is this?
A tax on the gain from the sale of a property, based on the difference between the sale price and the purchase price.
Capital Gains, Loss, and Taxes
Which real estate term is this?
An act or event that must occur before performance under a contract is required.
Condition Precedent
Which real estate term is this?
A legal entity treated as a person, separate from its owners, with individual rights and responsibilities.
Corporation
Which real estate term is this?
The ability of a landlord or manager to keep tenants over time.
Customer Retention
Which real estate term is this?
Means ‘balance,’ where price and quantity are determined by supply and demand.
Equilibrium
Which real estate term is this?
A study to determine the cost-benefit relationship of an economic endeavor.
Feasibility Analysis
Which real estate term is this?
Goods or services that are uniform and interchangeable, like one orange for another.
Fungibility
Which real estate term is this?
Tool for valuing properties by dividing gross annual income by sale price to get a multiplier.
Gross Income Multiplier
Which real estate term is this?
A party hired for a specific task, distinguished from an employee based on control and financial arrangements.
Independent Contractor
Which real estate term is this?
A special business form that combines some of the personal liability protections of a corporation with pass-through taxation similar to a sole proprietorship.
Limited Liability Company
(LLC)
Which real estate term is this?
Defined in the insurance business as the injury or damage sustained as the result of one or more accidents or misfortunes.
Loss
Which real estate term is this?
A study of market conditions in a specific area for a specific type of property.
Market Analysis
Which real estate term is this?
Third parties providing financing with an expectation of return.
Outside Investors
Which real estate term is this?
Similar to a sole proprietorship but with two or more equally responsible owners.
Partnership
Which real estate term is this?
Information gathered from a client not required by law to be disclosed.
Personal Information
Which real estate term is this?
A compilation of guidelines providing employees with office practices.
Policy Manual
Which real estate term is this?
Individual investors or groups providing funds to finance real estate purchases.
Private Investor
Which real estate term is this?
Companies offering home warranty contracts for maintenance or repair.
Residential Service Companies
Which real estate term is this?
Payment to ensure service availability as necessary.
Retainer Fee
Which real estate term is this?
Simplest type of business form, an individual engaged in business.
Sole Proprietorship
Which real estate term is this?
The amount of a product available and the desire of buyers for that product.
Supply and Demand
Which real estate term is this?
An amount allowed as a direct reduction in taxes owed.
Tax Credit
