Unit 1 Key Terms Flashcards
Absentee Owner
a property holder who does not reside on the property and who usually relies on a property manager to supervise the investment
Appraisal
the process of developing and communicating an opinion of a property’s value based on supportable evidence and approved methods as of a certain date
Appraiser
one who is registered license or certified by the dbpr and provides an estimate of value
Brokers Price Opinion (BPO)
a written opinion of the value of real property Florida real estate licensees are allowed to prepare charge for BPO’s provided the BPO is not called on an appraisal. Price opinions are often requested by relocation companies and lenders involved in short sales of distressed properties
business broker
real estate licensees who engage in the sale purchase or lease of businesses
business opportunity
the real estate activity dealing in the sale purchase or lease of businesses
Community Association Manager (CAM)
a person who holds a cam license to manage Community associations of more than 10 units and associations with annual budgets in excess of $100,000
comparative market analysis (CMA)
and informal estimate of market value performed by real estate license for the seller to assist in arriving at an appropriate listing price or if working with a buyer and informal estimate of market value to assist the buyer and arriving inappropriate offering price
Dedication
An offer of land for some public use, by an owner, together with acceptance by or on behalf of the public
Farm area
a selected geographical area or a group of people from which to solicit real estate business and to which a real estate license need devotes special attention and study
follow up
what a sales associate does after a sale to maintain customer contact and Goodwill
multiple listing service (MLS)
an arrangement among members of a real estate board or exchange that allows each member broker to share listings with other members so that greater exposure is obtained in a greater chance of sale will result
Property Management
the leasing, managing, marketing, and overall maintenance of property for others
property manager
a person who manages properties for various owners a property managers primary Duties are to secure and keep tenants to provide Financial records and accounts and to provide upkeep and maintenance of the properties
real estate brokerage
A part of the real estate business that is concerned with bringing together buyers and sellers and owners and renters and completing a real estate transaction
Realtor
a real estate broker who is a member of a local board of realtors and is Affiliated the State Association Florida Realtors and the National Association of Realtors the term is not synonymous with real estate agent
rental agent
a person who for a fee acts as an intermediary between a person seeking to lease a housing accommodation and a property owner seeking to choir lease for housing accommodation rental agents were paid on a transaction basis must be licensed real estate agents salary to employees who work in an on-site rental office in a leasing capacity are exempt from real estate license provided they are not paid on transactional basis
Subdivision plat map
An engineer’s plan for land use superimposed on a map of the land to be developed.
Target Market
A specific group of prospects chosen because of its demographic financial and lifestyle characteristics
a property holder who does not reside on the property and who usually relies on a property manager to supervise the investment
Absentee Owner
the process of developing and communicating an opinion of a property’s value based on supportable evidence and approved methods as of a certain date
Appraisal
one who is registered license or certified by the dbpr and provides an estimate of value
Appraiser
a written opinion of the value of real property Florida real estate licensees are allowed to prepare charge for BPO’s provided the BPO is not called on an appraisal. Price opinions are often requested by relocation companies and lenders involved in short sales of distressed properties
Brokers Price Opinion (BPO)
real estate licensees who engage in the sale purchase or lease of businesses
business broker
the real estate activity dealing in the sale purchase or lease of businesses
business opportunity
a person who holds a cam license to manage Community associations of more than 10 units and associations with annual budgets in excess of $100,000
Community Association Manager (CAM)
and informal estimate of market value performed by real estate license for the seller to assist in arriving at an appropriate listing price or if working with a buyer and informal estimate of market value to assist the buyer and arriving inappropriate offering price
comparative market analysis (CMA)
An offer of land for some public use, by an owner, together with acceptance by or on behalf of the public
Dedication
a selected geographical area or a group of people from which to solicit real estate business and to which a real estate license need devotes special attention and study
Farm area
what a sales associate does after a sale to maintain customer contact and Goodwill
follow up
and Arrangement among members of a real estate board or exchange that allows each member broker to share listings with other members so that greater exposure is obtained in a greater chance of sale will result
multiple listing service (MLS)
the leasing, managing, marketing, and overall maintenance of property for others
Property Management
a person who manages properties for various owners a property managers primary Duties are to secure and keep tenants to provide Financial records and accounts and to provide upkeep and maintenance of the properties
property manager
A part of the real estate business that is concerned with bringing together buyers and sellers and owners and renters and completing a real estate transaction
real estate brokerage
a real estate broker who is a member of a local board of realtors and is Affiliated the State Association Florida Realtors and the National Association of Realtors the term is not synonymous with real estate agent
Realtor
a person who for a fee acts as an intermediary between a person seeking to lease a housing accommodation and a property owner seeking to choir lease for housing accommodation rental agents were paid on a transaction basis must be licensed real estate agents salary to employees who work in an on-site rental office in a leasing capacity are exempt from real estate license provided they are not paid on transactional basis
rental agent
An engineer’s plan for land use superimposed on a map of the land to be developed.
Subdivision plat map
A specific group of prospects chosen because of its demographic financial and lifestyle characteristics
Target Market
