Real Estate Marketing Commercial Real Estate
(SAE) Champions Questions and Answers |
100% Accurate | A+ Verified
• Diplomacy -✓✓the ability to handle clients and situations in a sensitive and effective
way - is critical in commercial real estate, and a lack of it can expose you immediately
as a beginner.
• DTPA -✓✓The Deceptive Trade Practices Act (DTPA) is a Texas law that was passed
in 1973. It allows an aggrieved consumer to sue a seller of goods for damages. The act
by the seller of the goods has to be deceptive or unfair for the consumer to successfully
sue for monetary damages.
• CCIM -✓✓The CCIM Institute was established in 1954 to give commercial real estate
practitioners an opportunity to further their business practices through education and
networking opportunities. The institute administers the Certified Commercial Investment
Member (CCIM) designation. "Gold Standard"
• ICSC -✓✓International Council of Shopping Centers - The purpose of The
International Council of Shopping Centers (ICSC) is to advance the shopping center
industry and to promote its role in the commercial distribution of consumer goods and
services.
• comprehensive database -✓✓This will be one of the greatest assets of your business.
Pick a geographical region to farm, and assemble a database of properties and property
owners.
• Canons of Professional Ethics and Conduct -✓✓FIDELITY
INTEGRITY
COMPETENCY
CONSUMER INFORMATION
DISCRIMINATORY PRACTICES
• caveat emptor -✓✓are two Latin words that most people have heard at some point -
"let the buyer beware." All real estate transactions in Texas are done "as is."
• IREM -✓✓Institute of Real Estate Management
is an international community of real estate managers dedicated to ethical business
practices, maximizing the value of investment real estate, and promoting superior
management through education and information sharing. IREM membership includes
more than 18,000 individuals and 550 corporate members.
, • BOMA -✓✓Building Owners and Managers Association is a federation of 93 BOMA
U.S. associations, BOMA Canada, and 13 BOMA international affiliates. BOMA
International's members are building owners, managers, developers, leasing
professionals, corporate facility managers, asset managers, and the providers of the
products and services needed to operate commercial properties.
• Intermediary brokerage -✓✓All commercial brokers practice intermediary because it is
in their best interests to do so. As the intermediary, the broker can sell one of his own
listings to a buyer. This is the reason that many properties are never listed on the
market as "for sale." It is more beneficial to keep the commission in-house, so others
are not vying for a part of the commission.
• fair housing -✓✓laws exist at the federal, state and local levels to ensure that all
citizens have unob- structed access to housing. Residential agents must always adhere
to all fair housing laws and cannot discriminate or refuse to sell or rent property based
upon a buyer's race, color, national origin, religion, sex, familial status or handicap.
• SIOR -✓✓Society of Industrial and Office Realtors is a professional organization
begun in 1939, with over 3,000 members worldwide that offers the SIOR Designation, a
symbol of knowledge, production, and ethics in the real estate industry.
• NARPM -✓✓Most single-family homes used as rentals are managed by the owner/
landlord. However, a growing portfolio of homes, homes scattered over a large area,
and other factors may make professional management desirable. The National
Association of Residen- tial Property Managers is an organization of managers of
single-family and small multifamily properties. For more information, visit
http://www.narpm.org.
• Commercial real estate is often defined as any real estate that is _____________. -
✓✓Not residential in nature
• Which of the following is a good reason for joining a big-name international
commercial real estate firm? -✓✓Good mentorship program
• Which statement regarding commercial real estate is FALSE? -✓✓Pocket listings are
rare and can be viewed as unethical
• supply and demand -✓✓are perhaps the primary determinants of real estate values.
When the demand for real estate is high and the supply low, prices in the marketplace
go up.
• campus-style -✓✓are so named due to their resemblance to university campuses.
They are usually quite large, spread over several acres of land, allow for ample parking,
and do not rely on foot traffic from the proximity to other retail businesses. Oil and
(SAE) Champions Questions and Answers |
100% Accurate | A+ Verified
• Diplomacy -✓✓the ability to handle clients and situations in a sensitive and effective
way - is critical in commercial real estate, and a lack of it can expose you immediately
as a beginner.
• DTPA -✓✓The Deceptive Trade Practices Act (DTPA) is a Texas law that was passed
in 1973. It allows an aggrieved consumer to sue a seller of goods for damages. The act
by the seller of the goods has to be deceptive or unfair for the consumer to successfully
sue for monetary damages.
• CCIM -✓✓The CCIM Institute was established in 1954 to give commercial real estate
practitioners an opportunity to further their business practices through education and
networking opportunities. The institute administers the Certified Commercial Investment
Member (CCIM) designation. "Gold Standard"
• ICSC -✓✓International Council of Shopping Centers - The purpose of The
International Council of Shopping Centers (ICSC) is to advance the shopping center
industry and to promote its role in the commercial distribution of consumer goods and
services.
• comprehensive database -✓✓This will be one of the greatest assets of your business.
Pick a geographical region to farm, and assemble a database of properties and property
owners.
• Canons of Professional Ethics and Conduct -✓✓FIDELITY
INTEGRITY
COMPETENCY
CONSUMER INFORMATION
DISCRIMINATORY PRACTICES
• caveat emptor -✓✓are two Latin words that most people have heard at some point -
"let the buyer beware." All real estate transactions in Texas are done "as is."
• IREM -✓✓Institute of Real Estate Management
is an international community of real estate managers dedicated to ethical business
practices, maximizing the value of investment real estate, and promoting superior
management through education and information sharing. IREM membership includes
more than 18,000 individuals and 550 corporate members.
, • BOMA -✓✓Building Owners and Managers Association is a federation of 93 BOMA
U.S. associations, BOMA Canada, and 13 BOMA international affiliates. BOMA
International's members are building owners, managers, developers, leasing
professionals, corporate facility managers, asset managers, and the providers of the
products and services needed to operate commercial properties.
• Intermediary brokerage -✓✓All commercial brokers practice intermediary because it is
in their best interests to do so. As the intermediary, the broker can sell one of his own
listings to a buyer. This is the reason that many properties are never listed on the
market as "for sale." It is more beneficial to keep the commission in-house, so others
are not vying for a part of the commission.
• fair housing -✓✓laws exist at the federal, state and local levels to ensure that all
citizens have unob- structed access to housing. Residential agents must always adhere
to all fair housing laws and cannot discriminate or refuse to sell or rent property based
upon a buyer's race, color, national origin, religion, sex, familial status or handicap.
• SIOR -✓✓Society of Industrial and Office Realtors is a professional organization
begun in 1939, with over 3,000 members worldwide that offers the SIOR Designation, a
symbol of knowledge, production, and ethics in the real estate industry.
• NARPM -✓✓Most single-family homes used as rentals are managed by the owner/
landlord. However, a growing portfolio of homes, homes scattered over a large area,
and other factors may make professional management desirable. The National
Association of Residen- tial Property Managers is an organization of managers of
single-family and small multifamily properties. For more information, visit
http://www.narpm.org.
• Commercial real estate is often defined as any real estate that is _____________. -
✓✓Not residential in nature
• Which of the following is a good reason for joining a big-name international
commercial real estate firm? -✓✓Good mentorship program
• Which statement regarding commercial real estate is FALSE? -✓✓Pocket listings are
rare and can be viewed as unethical
• supply and demand -✓✓are perhaps the primary determinants of real estate values.
When the demand for real estate is high and the supply low, prices in the marketplace
go up.
• campus-style -✓✓are so named due to their resemblance to university campuses.
They are usually quite large, spread over several acres of land, allow for ample parking,
and do not rely on foot traffic from the proximity to other retail businesses. Oil and
