Sales, leasing and counseling

Question 1

Real state transactions

Answer 1

for transactions to occur, property is sold and lease
often with help counsel of brokers and sales associates

Question 2

broker and sale associate

Answer 2

Sales associates work for the broker, but they perform activities and actions on behalf of a buyer or seller.

Brokers on a sale are acting as agents or intermediaries between two (or more!) parties to a transaction.

Question 3

counseling

Answer 3

But brokers and agents do have much more knowledge of the housing market, title, and conveyance than the average person.
This is the whole reason people seek out brokers and sales associates to help them out.
Additionally, it is much more efficient for many buyers and sellers to utilize a real estate agent rather than spend a lot of time looking up processes and information on the internet.

Question 4

Sales and leasing

Answer 4

They require knowledge of concepts like:

Title

Market conditions

Mortgages

Negotiations

Taxation

Question 5

Sale or lease of property can involve a

Answer 5

Listing (or seller’s) agent

Selling (or buyer’s) agent

Landlord’s agent

Leasing agent

Question 6

Types of realtionships

Answer 6

Buyer and a seller

Broker and sales associate

Sales associate and client

Question 7

Follow up

Answer 7

A follow-up is the contact a sales associate makes with a buyer or seller after closing a real estate transaction.

Question 8

5 common types of property you will be selling and leasing

Answer 8

residential

Commercial

Industrial

Agricultural

Business

Question 9

Types of residential property

Answer 9

Single-family residences

Vacation properties

Multi-family residences

Townhouses

Condominiums

Apartment buildings

Manufactured homes

Question 10

Residential vs commercial

Answer 10

In other words, the reason you need to distinguish between properties such as single-family residences and storefronts is because the property type determines how a sale is carried out.

Question 11

Credit card for closing and down payment

Answer 11

hat’s a huge “no-no,” as that changes debt ratio

Question 12

Commercial real state

Answer 12

Are used for business purposes

Are used to generate revenue

Are typically considered investment properties (more on these later

Question 13

Types of commercial properties

Answer 13

Office buildings

Retail complexes

Gas stations

Entertainment venues

Restaurants

commercial property revolves around the idea that commercial properties generate revenue for their owners.

Question 14

Commercial compliance

Answer 14

Larger commercial properties tend to be brokered by real estate companies that focus on this niche of real estate.

license holders wishing to enter into this area of the business need to be willing to pursue the additional, specialized education required to perform competently for their clients.

Question 14

Industirial Real state

Answer 14

Used for the manufacture of products or materials

Used as distribution facilities

Used as warehouses

While industrial real estate is often purchased as an investment property, the tenants usually have specialized (and costly) needs

Question 15

types of industrial

Answer 15

Manufacturing plants

Distribution facilities

Warehouses

Storage facilities

Research facilities

Data centers

Question 16

Agricultural

Answer 16

Properties used for the commercial cultivation of food, feed, and fiber

Commercial ventures used to provide us with fruits, vegetables, livestock, plants, wood products, and other resources that are an essential part of our daily lives

Specialized knowledge is needed for a license holder to operate successfully and competently in the agricultural real estate space

Question 17

Types of agricultural

Answer 17

Family and commercial farms

Ranches

Orchards

Nurseries and greenhouses

Pastures

Feed lots

Question 18

Business real state

Answer 18

Does not center around the property, focuses on the buying and selling of the business

Question 19

Business reals state

Answer 19

Florida assumes that business are usually connected to some kind of property whether that be leased or owned

Question 20

business brokers

Answer 20

The brokers who facilitate these transactions to sell or lease business in florida

Question 21

business brokers are unique in

Answer 21

Tangible property, such as grass and a real home you can touch

Intangible property, such as a business model or restaurant with award-winning recipes you can’t always physically touch

Question 22

business opportunity

Answer 22

In business real state is defined as a real estate transaction involving a business that already exists and includes both tangible and intangible assets.

Question 23

Special purpose property

Answer 23

Is a property created with a special, and often limited, purpose in mind. For example, a school or a religious building is a special-purpose property.

Churches

Schools

Recreational facilities

Cemeteries

Government-held land

Question 24

Characteristics of special purpose real state properties

Answer 24

Are often publicly owned

Require substantial reinvestment to convert to another purpose or use

Do not come up for sale as frequently as other property types

Question 25

Target Marketing

Answer 25

Involves choosing a specific group to focus on offering your skills as a sales associate to and catering your communication, marketing efforts, and skill set to that group

Question 26

Farming

Answer 26

s a specific area a real estate associate chooses to specialize and become an expert in

Question 27

Ethics

Answer 27

Accepted at a higher moral level

Question 28

Government Control

Answer 28

Department of Housing and Urban Development (HUD)

Federal Housing Administration (FHA)

Department of Veterans Affairs (VA)

Envi­ronmental Protection Agency (EPA)

Internal Revenue Service (IRS)

Question 29

State Governments

Answer 29

State governments are the primary regulators of real estate law. They address things such as:

Environmental control of flood zones

Waste disposal

Coastal regions

Recording of property conveyance

Recording of property pledged as collateral

Question 30

Local governments

Answer 30

Local governments cover real estate on an even smaller scale, addressing issues such as:

Land use control

Taxation

Zoning

Occupational licensing

Building permits

Question 31

NAR

Answer 31

National Association of REALTORS

Question 32

MLS - MULTIPLE LISTING SERVICE

Answer 32

is a database in which local member brokers share listings so other brokers can easily find buyers for those properties. Essentially, it’s like a Google search for local properties.

It is important to note that MLS can be accessed by non-realtors in Florida (but not in all states). In Florida, anyone can create an MLS.

Question 33

LICENSE HOLDER VS REALTON

Answer 33

Realtors are different from other real estate practitioners because the Code of Ethics and Standards of Practice of the National Association of REALTORS® requires a higher standard than the law requires. If you belong to NAR, you gotta follow this code!

Question 34

DBPR

Answer 34

Florida Department of Business and Professional Regulation

Question 35

NAR CODE OF ETHICS

Answer 35

Preamble (an introduction)

17 Articles

The first nine Articles are Duties to Clients and Customers

Articles 10 through 14 are Duties to the Public

Articles 15, 16, 17 are Duties to REALTORS®

Question 36

Golden Rule of Ethics

Answer 36

Treat others the way you wish to be treated

Question 37

Qualities of realtors

Answer 37

Competency
Perform your duties as a real estate professional with expertise.

Fairness
Be fair and considerate in your dealings with others at all times.

Integrity
Always behave ethically in a manner consistent with the NAR Code of Ethics.

Of course, all license holders should exhibit these qualities. They’re important both in real estate and in life.