COLIBRI REAL ESTATE
CERTIFICATION EVALUATION TEST
2026 TESTED 200 QUESTIONS
PRACTICE SOLUTION GRADE A
◉ Cost of Money. Answer: The interest rate that people or businesses
must pay to use another's money for their own purposes.
◉ Economic Base. Answer: The main business or industry in an area
that supports and sustains the community.
◉ Inflation. Answer: An increase in the cost of goods or services or too
many people wanting too few goods.
◉ Non-Homogeneity. Answer: A characteristic of real property; each
piece of land, each building, and each house is a unique piece of real
estate. Also called Uniqueness or Heterogeneity.
◉ Real Estate Cycles. Answer: General swings in real estate activity,
resulting in increasing or decreasing activity and property values, during
different phases of the cycle.
◉ Scarcity. Answer: A physical characteristic of real property that says
there is a limited supply of real estate; the perceived supply of a good or
service relative to the demand for the item.
, ◉ Seller's Market. Answer: A situation in the housing market when a
large number of buyers are looking for houses in an area of limited
availability.
◉ Supply and Demand. Answer: An economic principle that says that
for all products, goods, and services when supply exceeds demand,
prices will fall and when demand exceeds supply, prices will rise.
◉ Agency. Answer: Every relationship in which a real estate broker acts
for or represents another by the latter's express authority in a real
property transaction.
◉ Associate broker. Answer: A person who acts on behalf of a real
estate broker in performing any act authorized by this chapter of law to
be performed by the broker.
◉ Brokerage agreement. Answer: An express written contract wherein
the client promises to pay the real estate broker a valuable consideration
or agrees that the real estate broker may receive a valuable consideration
from another in consideration of the broker's producing a seller, buyer,
tenant, or landlord ready, able, and willing to sell, buy, or rent the
property or in consideration of the broker's performing property
management services or performing community association
management services.
◉ Commission. Answer: The Georgia Real Estate Commission
CERTIFICATION EVALUATION TEST
2026 TESTED 200 QUESTIONS
PRACTICE SOLUTION GRADE A
◉ Cost of Money. Answer: The interest rate that people or businesses
must pay to use another's money for their own purposes.
◉ Economic Base. Answer: The main business or industry in an area
that supports and sustains the community.
◉ Inflation. Answer: An increase in the cost of goods or services or too
many people wanting too few goods.
◉ Non-Homogeneity. Answer: A characteristic of real property; each
piece of land, each building, and each house is a unique piece of real
estate. Also called Uniqueness or Heterogeneity.
◉ Real Estate Cycles. Answer: General swings in real estate activity,
resulting in increasing or decreasing activity and property values, during
different phases of the cycle.
◉ Scarcity. Answer: A physical characteristic of real property that says
there is a limited supply of real estate; the perceived supply of a good or
service relative to the demand for the item.
, ◉ Seller's Market. Answer: A situation in the housing market when a
large number of buyers are looking for houses in an area of limited
availability.
◉ Supply and Demand. Answer: An economic principle that says that
for all products, goods, and services when supply exceeds demand,
prices will fall and when demand exceeds supply, prices will rise.
◉ Agency. Answer: Every relationship in which a real estate broker acts
for or represents another by the latter's express authority in a real
property transaction.
◉ Associate broker. Answer: A person who acts on behalf of a real
estate broker in performing any act authorized by this chapter of law to
be performed by the broker.
◉ Brokerage agreement. Answer: An express written contract wherein
the client promises to pay the real estate broker a valuable consideration
or agrees that the real estate broker may receive a valuable consideration
from another in consideration of the broker's producing a seller, buyer,
tenant, or landlord ready, able, and willing to sell, buy, or rent the
property or in consideration of the broker's performing property
management services or performing community association
management services.
◉ Commission. Answer: The Georgia Real Estate Commission
