Chapter 1- The Real Estate Business Flashcards
A contractor who builds on his or her own lot in the hope of finding a purchaser upon completion is building on____
Spec or speculation
A broker who is working for an employer is said to be an _____
Agent
When working with a member of he public, the party the broker hopes to be successful with in w performance of his or her duties is referred to a _____
Customer
Most real estate licensees are involved in ____ brokerage
Residential
Property management had grown as a service of real estate primarily because of an increase in ___ _____
Absentee ownership
That portion of the Federal Financial Institutions Refore, Recovery, and Enforcement Act that requires the use of state
Incensed or state certified appraisers is ___
Title XI (11)
An estimate of the value of property developed by a real estate license for use in listing or selling property is known as a ___ ____ ____ (___)
Comparable market analysis (CMA)
Mortgage brokers are licensed in Florida by the ___ ___ ___ ___
Department of financial services
The category of construction that applies when a property owner employs a contractor to build on his or her own lot is called ___ ____
Custom building
After completion of construction of a subdivision, the streets, sidewalks and common areas are frequently conveyed to the city or county in a process called ___
Dedication
An appraisal is an ___ of value
Estimate
Valuing a business requires an analysis of ___ ___ and ___ ___
Financial statements and balance sheets
The three areas of expertise real estate licensees bring to the transaction relate to ___, ___ and ___ ___
Valuation, marketing, and property transfer
The composite value of the real and personal property, plus the intangible assets of a business is called___ ___ value
Going concerned
Part ___ of F.S. 475 covers regulation and licensing of real estate practitioners, while part ___ covers the registration, licensing, and certification of appraisers in Florida
I (1)
II (2)
