Barney Fletcher Study guides, Class notes & Summaries
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Barney Fletcher Review (Chap 1-5 Latest Update)
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Which of the following are appointed by the governor? 
 
a. Members of the Georgia Real Estate Commission. 
b. The Real Estate Commissioner. 
c. Real estate instructors. 
d. Georgia Real Estate Commission employees. - ANSWER a. Members of the Georgia Real Estate Commission. 
 
Bill knows that his neighbor Carol wants to sell her house. Bill's friend Sam tells Bill that he would like to buy a house in Bill's neighborhood. Bill introduces Sam and Carol. Sam ends up buying Carol's house. Bill is...
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Barney Fletcher Exam questions Verified 100%
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An appraiser recommended tearing down a $28,000 house. There was a shopping center across the street. Which of the following appraisal principles BEST describes this situation? 
 
A. deterioration 
B. highest and best use 
C. capitalization 
D. substitution - ANSWER B. highest and best use 
 
What could guarantee no encroachments and good title? 
 
A. assumption package 
B. title insurance policy 
C. survey 
D. termite inspection - ANSWER B. title insurance policy 
 
Which of the following state...
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Post License Course (Barney Fletcher)CORRECT 100%
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Within the first five years around ___% of agents leave the real estate business - ANSWER 80-90% 
 
For buyers what are the five steps of the pre-qualification process - ANSWER 1. Urgency 
2. Motivation 
3. Financial Ability 
4. Wants and Needs 
5. Agency 
 
For sellers what are the five steps to the first appointment - ANSWER 1. Urgency 
2. Motivation
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Barney Fletcher Cram Notes Booklet(Latest Update 2024)
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deed - ANSWER the instrument used to transfer real property 
 
Title - ANSWER Ownership and the owner's rights 
 
Real Estate - ANSWER Land + improvements (appertenances) 
 
Physical Characteristics of Land - ANSWER 1. Immovable 
2. Indestructable 
3. Non-Homogenous (unique) 
 
Economic Characteristics of Land - ANSWER 1) Situs 2) Improvements 
3) Fixed Investment 4) Scarcity
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Barney Fletcher Exam questions & Answers
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In doing a market analysis, you find a recently sold property where the owners had just gone through a divorce. It was listed for $60,000 for 3 months but sold for $40,000. Would you use this as a comparable? 
 
A. no, because it had only been listed for 3 months 
B. no, because of the divorce, it was not an arms length agreement 
C. yes, you would use the actual sales price of $40,000 
D. yes, because it was a comparable type property - ANSWER B. no, because of the divorce, it was not an arms l...
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Barney Fletcher Real Estate Exam 100% Verified
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Assemblage - ANSWER combining two or more contiguous parcels of real estate into a single parcel under one ownership 
 
plottage - ANSWER an increase in value resulting from assemblage 
 
fixture - ANSWER personal property that is permanently attached to real property and goes with the property when its sold 
 
what makes something a fixture - ANSWER if object was fixed or installed with the intention of improving the home
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Barney Fletcher Cram Final Exam
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A seller wants to list the property with a broker, but wants to avoid paying any commission should the seller be fortunate enough to sell the property. himself. Which of the following should the seller avoid signing? 
 
A. an exclusive agency listing 
B. an exclusive right to sell listing 
C. an open listing 
D. all listings - ANSWER B. an exclusive right to sell listing 
 
Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, Bob knew he had to sell due to poor health. Wha...
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Barney Fletcher Practice Exam 1 Questions & Answers
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Which would NOT be used in the capitalization approach? 
 
A. gross income 
B. operating expenses 
C. reproduction cost 
D. allowance for vacancy - ANSWER C. reproduction cost 
 
A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? 
 
A. $133,500 
B. $140,000 
C...
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Barney Fletcher Cram Notes Booklet Questions & Answers(RATED A)
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deed - ANSWER the instrument used to transfer real property
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Exam 2 Barney Fletcher Correct 100%
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FBPA is a GA Law - ANSWER True 
 
Referrals are from broker to broker (licensee to licensee) - ANSWER True 
 
The secondary mortgage market is used for what? - ANSWER loans are bought and sold... provides liquidity for the primary market 
 
Accrued interest is the sellers interest since his last payment - ANSWER True 
 
In a cooperative type of ownership, the unit dweller does not get an individual tax bill - ANSWER True 
 
Multiple tenants in same shopping center who are not forced to move in a...
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