Chapter 1: The Real Estate Business

Question 1

Property management and real estate asset management are both real estate management professions. The primary distinction between the two is that…

Answer 1

Property managers handle day-to-day operations while asset managers manage portfolios of properties

Question 2

People in the real estate business who primarily focus on creating new properties are…

Answer 2

developers

Question 3

The term “commercial property” generally refers to…

Answer 3

retail, office, and industrial properties

Question 4

Which of the following professionals involved in the real estate business are most concerned about procuring buyers and sellers for clients?

Answer 4

brokers and agents

Question 5

Which of the following ways of specializing is common in the real estate brokerage business?

Answer 5

by geography

Question 6

What is an advisory provider?

Answer 6

A broker who renders real estate services for a fee

Question 7

The level of government that is most active in regulating real estate licenses is the…

Answer 7

state government