Business of Real Estate Flashcards
Associate Licensee
AKA Sales Associate
Blind Advertising
Broker-Officer
Point person for a corporation brokerage.
Bulk Transfer of Goods
Business and Professions Code
The book of codes referring to Real Estate Law, Division 4.
Business Opportunity
Examples: Inventory, Trade Fixtures, Goodwill
Business assets of personal property.
D.R.E.
California Department of Real Estate
Caveat Emptor
‘Let the buyer beware’ in Latin. Referring to the fact that a customer agrees to quality of home upon purchase.
Certificate of Status
Official document by Secretary of State verifying Corporation’s legitimacy.
Codes
Books of California legislation.
Consumer Recovery Account
Education and Research Account
Fictitious Business Name Statement
An ‘AKA’ or ‘Doing Business As’ that can be filed with County Clerk to use as a business name.
Franchise
Refer to California’s Franchise Investment Law
An agreement between the connection of separate transactions of real property as a chain of others alike.
Manufactured Home
Mobilehome Dealer
License obtained by agent having more than 1 mobile home “for sale” at a time.
Mortgage Loan Broker
Brokerage assisting in the soliciting, negotiating, and servicing of loans.
Mortgage Loan Originator (MLO)
Real Estate agent acting as the principal of a sales contract or promissory note for a member of the public.
Prepaid Rental Listing Service (PRLS)
Real Estate Broker
AKA Real Estate Salesperson
Heads a brokerage and has authority to have associates under them.
Real Estate Brokerage
Business of Real-Estate activities.
Real Estate Law: 2 Parts
- Licensing
- Transactions and Subdivided Land Law
Regulations of the Real Estate Commissioner
Commissioner interprets Real Estate Law and clarifies/regulates it.
Restricted License
Sales Associate
Uniform Commercial Code
