Bob Hogue UNIT 1
Study online at https://quizlet.com/_hn313c
1. Expert information: The product that a real estate sales associate must market is
2. Three areas of expertise that real estate licensees bring to the transaction: -
Knowledge of... property transfer, market conditions, how to market real estate and business
3. Five major sales specialties: Residential, Commercial, Industrial, Agricultural, Businesses
4. Farm area: An area a real estate professional often specializes in one particular geographic area or property
type.
5. Target Marketing: Developing a database of prospects to direct a specific message.
6. Absentee Owner: property owner who does not reside on the property & who often relies on a professiona
property manager to manage the investment
7. True: Rental agents collect a fee for finding a tenant meanwhile Property Managers continue to manage the
property once a tenant is secured.
True
False
8. A property managers charge is to protect the owners investment and maxi-
mize the owners return.
True
False: True
9. Management Agreement: The scope of work a property manager performs
10. A state certified or licensed appraiser must conduct an appraisal when the
valuation assignment involves originating a federally related mortgage loan.
True
False: True
11. If a sales associate performs a BPO, the compensation must be paid to the
broker and not directly to the sales associate who prepared the BPO.
TRUE
FALSE: True
12. USPAP (Uniform Standards of Professional Appraisal Practice): A set of guidelines
to follow when providing appraisal services.
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Study online at https://quizlet.com/_hn313c
1. Expert information: The product that a real estate sales associate must market is
2. Three areas of expertise that real estate licensees bring to the transaction: -
Knowledge of... property transfer, market conditions, how to market real estate and business
3. Five major sales specialties: Residential, Commercial, Industrial, Agricultural, Businesses
4. Farm area: An area a real estate professional often specializes in one particular geographic area or property
type.
5. Target Marketing: Developing a database of prospects to direct a specific message.
6. Absentee Owner: property owner who does not reside on the property & who often relies on a professiona
property manager to manage the investment
7. True: Rental agents collect a fee for finding a tenant meanwhile Property Managers continue to manage the
property once a tenant is secured.
True
False
8. A property managers charge is to protect the owners investment and maxi-
mize the owners return.
True
False: True
9. Management Agreement: The scope of work a property manager performs
10. A state certified or licensed appraiser must conduct an appraisal when the
valuation assignment involves originating a federally related mortgage loan.
True
False: True
11. If a sales associate performs a BPO, the compensation must be paid to the
broker and not directly to the sales associate who prepared the BPO.
TRUE
FALSE: True
12. USPAP (Uniform Standards of Professional Appraisal Practice): A set of guidelines
to follow when providing appraisal services.
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