Real Estate Study Guide – Key Exam Questions and Answers – Complete Exam Preparation Material

Real estate study guideReal
withEstate
key exam questions and answers
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-470895




What i s a brokerage? T he busi ness of bri ngi ng peopl e tobgether i n a real estate transacti on




A poi nt of contact between two or more peopl e i n negoti ati on the sal e, purchase, or
What i s a broker (or desi gnated representati ve = sal esperson or associ ate broker)?
rental of a property (resi denti al , commerci al , or i ndustri al )




What i s a sal esperson? a l i censee who sel l s property out of a sponsori ng broker's of f i ce.




T he process of esti mati ng a property's market val ue. Assi sts the l ender i n
Appri asal
determi ni ng maxi mum l oan amount.




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, Real estate study guideReal
withEstate
key exam questions and answers
Study this set o nline at: https://www.cram.co m/flashcards/real-estate-470895




Property Manager A person hi red to mai ntai n and manage property on behal f of i ts owner




F i nanci ng T he busi ness of provi di ng the f unds that make real estate transacti ons possi bl e




Subdi vi si on T he process of spl i tti ng a si ngl e property i nto smal l er parcel s.




D evel opment I nvol ves the constructi on of i mprovements on the l and




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