REAL ESTATE 2024 QUESTIONS AND ANSWERS

REAL ESTATE 2024 QUESTIONS AND ANSWERS Real Estate Broker - Answer- a person who is licensed as a broker that peforms brokerage activities and collects compensation. Real Estate Salesperson - Answer- a person who peforms real estate activities while associated with a licensed real estate broker. licensee - Answer- a person holding a valid real estate license appraiser - Answer- a person whos certified to estimate the value of a real property according to standardized principles of valuation. home inspector - Answer- A person who's affiliated with a national nonprofit trade association, has passed the appropriate exam, and evaluates properties for their condition lender - Answer- A person who arranges financing for the buyer of real property developer - Answer- a person who constructs improvement on raw land subdivider - Answer- A person who splits a single property into smaller parcels in preparation for development real estate investors - Answer- a person who puts money or property into a real estate project for profit real estate attorney - Answer- A person who holds a law degree and specializes in real estate; may legally broker deals Real estate counselor - Answer- A person who provides services to help determine viability of a real estate asset or project rental listings services - Answer- help tenants find landlords and landlords find tenants real estate counsulant - Answer- one who gives advice about real estate for a fee (must have broad knowledge of all major aspects of the real estate industry) leisure property - Answer- Includes hotels, motels, golf courses, resorts, sporting arenas, movie theaters and restaurants (requires hands-on management) industrial property - Answer- Includes heavy or light manufacturing, warehouse and distribution centers (clear height is a key consideration) health care properties - Answer- includes doctor offices , urgent care , clinics , hospital (requires specialized fitting) office buildings - Answer- Includes Class A, B or C; may be high rise or low rise retail properties - Answer- Includes storefronts, shopping centers, malls residential properties - Answer- Properties designed for dwelling commercial properties - Answer- Properties designed for commerce and profit speciality properties - Answer- includes-mixed use, planned unit developments , and trnasit-oriented development mixed use - Answer- A property that combines retail/residential in a single building planned unit development - Answer- A high density project with mixed zoning (e.g., retail and residential, healthcare, etc.) transit oriented development - Answer- A development centered around a transportation hub