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Principles of Real Estate > Business of Real Estate > Flashcards

Business of Real Estate Flashcards

1
Q

Associate Licensee

AKA Sales Associate

A
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2
Q

Blind Advertising

A
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3
Q

Broker-Officer

A

Point person for a corporation brokerage.

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4
Q

Bulk Transfer of Goods

A
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5
Q

Business and Professions Code

A

The book of codes referring to Real Estate Law, Division 4.

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6
Q

Business Opportunity

Examples: Inventory, Trade Fixtures, Goodwill

A

Business assets of personal property.

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7
Q

D.R.E.

A

California Department of Real Estate

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8
Q

Caveat Emptor

A

‘Let the buyer beware’ in Latin. Referring to the fact that a customer agrees to quality of home upon purchase.

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9
Q

Certificate of Status

A

Official document by Secretary of State verifying Corporation’s legitimacy.

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10
Q

Codes

A

Books of California legislation.

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11
Q

Consumer Recovery Account

A
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12
Q

Education and Research Account

A
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13
Q

Fictitious Business Name Statement

A

An ‘AKA’ or ‘Doing Business As’ that can be filed with County Clerk to use as a business name.

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14
Q

Franchise

Refer to California’s Franchise Investment Law

A

An agreement between the connection of separate transactions of real property as a chain of others alike.

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15
Q

Manufactured Home

A
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16
Q

Mobilehome Dealer

A

License obtained by agent having more than 1 mobile home “for sale” at a time.

17
Q

Mortgage Loan Broker

A

Brokerage assisting in the soliciting, negotiating, and servicing of loans.

18
Q

Mortgage Loan Originator (MLO)

A

Real Estate agent acting as the principal of a sales contract or promissory note for a member of the public.

19
Q

Prepaid Rental Listing Service (PRLS)

A
20
Q

Real Estate Broker

AKA Real Estate Salesperson

A

Heads a brokerage and has authority to have associates under them.

21
Q

Real Estate Brokerage

A

Business of Real-Estate activities.

22
Q

Real Estate Law: 2 Parts

A
  1. Licensing
  2. Transactions and Subdivided Land Law
23
Q

Regulations of the Real Estate Commissioner

A

Commissioner interprets Real Estate Law and clarifies/regulates it.

24
Q

Restricted License

A
25
Q

Sales Associate

A
26
Q

Uniform Commercial Code

A

Principles of Real Estate (1 decks)

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