Unit 1 - Introduction Flashcards
1
Q
Market
A
A place where goods can be bought and sold and a price established.
2
Q
Sponsoring Broker
A
The broker who is sponsoring a licensed broker, managing broker, or leasing agent.
3
Q
Real Estate License
A
The point of contact between 2 or more people in negotiating the sale, purchase, or rental of a property.
4
Q
Supply + Demand
A
The appraisal principle that follows the interrelationship of the supply of and demand for real estate. Because appraising is based on economic concepts, this principle recognizes that real property is subject to the influences of the marketplace, as is any other commodity.
5
Q
Brokerage
A
The bringing together of parties interested in making a real estate transaction.
