Champions real estate principles of real estate 1 in 2023 Questions With Complete Solutions

brokerage correct answer: A business that pertains to overseeing the needs of the parties and completing a transaction they may or may not involve agency relationships Real Estate Development correct answer: Involves the acquisition of land for development into residential subdivisions, retail centers and other commercial uses. immobility correct answer: It's a physical characteristic of land that cannot be moved The demand for real estate is affected by correct answer: growth in employment, transportation systems, personal preference, availability of credit, federal government policy What is the most important deterrent a value in Residential real estate correct answer: The size of the employment market Common Law correct answer: A body of law based on common sense the court looks into findings of prior court when rendering a decision TRELA correct answer: The Texas Real Estate License Act- passed by legislation to protect the public TREC correct answer: Was created in 1949 it's the only one that can take your license TREC licensing requirements correct answer: And act rules and regulations with the four force and effective law and advises as to these rules and laws.