Unit 1: Florida Real Estate Exam Questions and Answers 100% Pass

Unit 1: Florida Real Estate Exam Questions and Answers 100% Pass Absentee Owner - Correct Answer ️️ -An owner who does not reside on the property and who usually relies on a property manager to supervise the real estate Agricultural, 10 - Correct Answer ️️ -___ property is defined in Florida license law to mean agricultural property of more than __ acres. Appraisal - Correct Answer ️️ -The process of estimating the value of real property; a supported, defended estimate of the value of real property as of a specific date. may not - Correct Answer ️️ -A written opinion of the value of real property. BPOs ___ ___ be referred to as appraisals. Business Brokers - Correct Answer ️️ -Real estate licensees who engage in the sale, purchase, or lease of businesses. Business Opportunity Brokerage - Correct Answer ️️ -Real estate activity dealing in the sale, purchase, or lease of businesses (going concern operations). Comparative Market Analysis (Cma) - Correct Answer ️️ -A marketing tool that may not be referred to or represented as an appraisal; CMAs are developed by reviewing the real estate activity in the area, including recent sales of similar properties, properties currently offered for sale, and recently expired listings to indicate what a subject property might be worth based on current market activity. Counselors - Correct Answer ️️ -Real estate professionals who provide advice to individuals and firms regarding the purchase and use of real estate investments; counseling involves analyzing existing or potential problems and recommending a course of action. Dedication - Correct Answer ️️ -The gift of land by an owner to a government body for a public use. Farm Area - Correct Answer ️️ -A selected geographic area or a group of people from which to solicit real estate business and to which a real estate licensee devotes special attention and study. Follow-up - Correct Answer ️️ -What a sales associate does for buyers and sellers after the sale (closing) to promote customer loyalty. Multiple Listing Service (Mls) - Correct Answer ️️ -A database that allows real estate brokers representing sellers under a listing contract to share information about properties with real estate brokers who may represent potential buyers. Property management - Correct Answer ️️ -Real estate activity devoted to leasing, managing, marketing, and overall maintenance of property for others. Property Manager - Correct Answer ️️ -The local representative of the owner. Real Estate Brokerage - Correct Answer ️️ -That part of the real estate business that is concerned with bringing together buyers and sellers, owners and renters, and completing real estate transactions. Real Estate Business - Correct Answer ️️ -The industry or occupation whose activities involve real property transactions handled by licensed real estate profe