Highlights Chapter 1 Flashcards
Comparative market analysis
Real estate licenses typically prepare what is known as comparative market analysis (CMA) , which is a value estimate based on recent cells of similar properties in the same neighborhood.
The multiple listing service
The multiple listing service (MLS) system provides an extensive marketing tool for real estate licenses. The MLS provides the opportunity to market listings to thousands of other local and statewide licenses, and addition to potential buyers around the world.
Follow up
In addition to having the necessary knowledge of skills, it is imperative that real estate licensees act in a professional manner. Referrals from past customers are an important source of future business. Therefore, consistent and repeated follow up with customers as key to maintaining good relationships and obtaining new prospects. 
Distinction between types of residential construction
There are three types of residential construction:
Custom building : contractor is employed to build a structure according to the customers specifications
Speculative building : is when a contractor build a structure before securing a buyer with the hope of selling the finish structure this is also referred to as building on spec
Track building: is when a developer acquires a large tract of land records, a subdivision plat map, and uses a model center from which cells may be made
NAR
NAR is the national Association of realtors members are called realtors and include practitioners from all areas of expertise in the real estate profession. 
FAR
The Florida Association of Real tours FAR is the largest trade association in the state. FAR does all its business as Florida realtors.
Government regulations
On a local level: planning and zoning , property taxation, building, and health code. Regulations are controlled by local governments. Local or government bodies can also impose a moratorium or temporary delay for a building project.
