Unit 1

Question 1

Buyer’s market

Answer 1

Real estate marketplace that has more sellers than buyers

Question 2

e-PRO certification

Answer 2

NAR professional designation of an internet professional

Question 3

Independent contractor

Answer 3

A person employed by another who has almost complete freedom to accomplish the purposes of the employment

Question 4

Multiple listing service (MLS)

Answer 4

An organization of real estate agents providing for a pooling of listings and the sharing of commissions on transactions involving more than one agent.

Question 5

Seller’s market

Answer 5

Real estate market with more buyers than sellers

Question 6

National association of REALTORS (NAR) & California association of REALTORS (CAR)

Answer 6

-provides training opportunities, legal updates, industry news, access to lockboxes, multiple listing services

Question 7

Stratified marketplace

Answer 7

• based on price range

- Real estate is the best example of this