Champions School Ch. 1 - Intro to Real Estate Exam Questions and Answers

brokerage - ANSWER-the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction. RMLOs - ANSWER-Are also know as mortgage brokers NAR - ANSWER-The largest trade organization representing real estate professionals Value - ANSWER-A fair return or equivalent in goods, services, or money for something exchanged appraisal - ANSWER-the business of providing a professional opinion of the value of real property mortgage lending - ANSWER-business of providing money to individuals or corporations for the conditional transfer or pledge of real estate as security for payment of a debt Property Management - ANSWER-the management of residential and commercial properties on behalf of the investor-owner of the property. Apartment Locators - ANSWER-work for firms that specialize in locating units for tenants in multi-family complexes Apartment Locators. License or no license? - ANSWER-license