Chapter One Flashcards
What are the five major sales specialties?
(1) Residential
(2) commercial
(3) industrial
(4) agricultural
What does “farm area” refer to?
A selected and limited geographic area to which a sales associate
devotes special attention to.
What does a business opportunity brokerage involve?
A business opportunity brokerage involves the sale or lease of an existing business. A real estate license is required to sell and lease business opportunities for others.
What is property management devoted to?
Property management is devoted to:
- Leasing
- Managing
- Marketing
- Overall Maintenance of Property for Others (OMPO)
What is an absentee owner?
An absentee owner are property owners who do not reside on the property and who often rely on a professional property manager to manage the investment.
What standards does Florida law require appraisers and real estate licensees to abide by?
Real estate licensees mustabide by the Uniform Standards of Professional Appraisal Practice (USPAP)
What is the Uniform Standards of Professional Appraisal Practice
(USPAP)
A set of rules and guidelines (standards & practices) to follow when conducting appraisal services.
When can a real estate licensees represent themselves as state- certified, registered or licensed appraiser?
When they are actually licensed to be an appraiser?
What is a comparative market analysis? (CMA)
Is a marketing tool that is prepared for a potential buyer or seller based on the sales of similar properties, properties currently on the market, and recent expired listings.
(A CMA may not be referred to or represented as an appraisal.)
What must a developer do to make the city to service the streets of a subdivision.
The developer must submit a plat mat to the planning committee of the county where the subdivision is proposed.
What are the three categories of residential construction?
(1) speculative (spec) homes
(2) custom homes
(3) tract homes
What is a realtor?
A real estate professional who is a member of a local board (or association) of Realtors and is affiliated with the Florida Realtors and the NAR.
