The Real Estate Profession M1U1

Question 1

What is a real estate sales person?

Answer 1

A real estate salesperson is someone who is employed by a broker who may perform most acts of a broker. They my not work independently of his or her licensed broker and can function only through the broker.

Question 2

What are some careers in Real Estate?

Answer 2

Finance, appraisal, property management, development, construction, title, trade association, education

Question 3

Real Estate sales

Answer 3

Single family residential properties
Multi family residential properties
Condominiums and cooperatives
Group homes

Question 4

What are some specialized residential properties?

Answer 4

Converted use of properties
Manufactured housing or mobile homes
Time shares

Question 5

Selling securities

Answer 5

-A real estate license does not allow someone to sell securities.

Question 6

What are blue sky laws?

Answer 6

Blue sky laws prohibit anyone without a registered securities broker dealers license from selling and type of investment opportunity or security such as sticks or bonds or unregistered sexurities

Question 7

What are three main areas when you choose a broker?

Answer 7

Level of training
Broker services
Compensation structure

Question 8

What is NAR?

Answer 8

National Association of Realtors.

Only those who joint NAR may use the term REALTOR.

Question 9

What term do members use in the National Association of areal Estate Brokers use?

Answer 9

Realist

Question 10

What is a real estate broker

Answer 10

A broker is someone who is licensed to represent another person in a real estate transaction. A broker sells, lists, leases,exchanges,negotiates.