Champions Real Estate - Principles 1 Exam 2022/2023

Champions Real Estate - Principles 1 Exam 2022/2023 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. The legislature has granted TREC Powers to - Correct Answer Assess administrative penalties up to 5000 per day against offending license and license individuals RMLOs - Correct Answer Licensure for ____________ requires the completion of pre-licensing courses and a passing grade on a national and state exam. Subdivisions - Correct Answer Has job opportunities expand, raw land is developed into residential