Unit 1 Binder- Introduction to the real estate business Flashcards
To memorize questions from unit one
Warehouses, factories, and power plants are examples of
Industrial Properties
Population demographics and wage levels have an important effect on
Demand
The two characteristics of real estate that govern the way the market reacts to supply and demand are
Uniqueness and immobility
Real estate markets are best described as
Local
When the supply of a commodity decreases
Prices tend to rise
When the demand of a commodity decreases
Prices tend to drop
A real estate professional who performs a visual survey of a property’s structure and systems and prepares an analytical report for the purchaser or an owner is acting as
A home inspector
When responsible for maintaining a client’s property and maximizing return on the client’s investment, a broker is serving as
A property manager
