FL RE Pre-Licensing (Sect. 1 - 4) | latest 2023/24

FL RE Pre-Licensing (Sect. 1 - 4) | latest 2023/24 Absentee Owner - When the owner of the property does not live in or manage the property. Such an Owner may hire others to manage the property. Appraisal - An estimate of value as of a specific date and for a specific use. Appraiser - One who performs an appraisal (an estimate of value as of a specific date and for a specific use). BPO (Broker's Price Opinion) - An opinion of value prepared by a real estate licensee; similar to a CMA, but not as detailed; a lender or relocation company generally orders the ___. It is NOT an appraisal. Business Opportunity - The sale or lease of a business (when goods or services are exchanged for profit). Comparative Market Analysis (CMA) - An opinion of a property's market price range, and is used to help the seller establish a probable listing or lease price. It is NOT an appraisal. Dedication - Putting in time and effort to a certain task or purpose means that you have: *Colibri's & online definition is: The giving by an owner of private property for public use, and the acceptance by the proper public authority. Farm Area (Target Market) - To focus on a specific area (location or type of consumer) to grow (farm) one's business. Follow-Up - To continue something already started; often meaning to contact someone with whom you've started a business relationship. Property Management - The administration and supervision of real property for others for compensation. Real Estate Brokerage - The purpose of a ____ ______ _________ is to bring parties together and assist them in a real estate transaction, for a fee. Special-Purpose Property - Property uniquely suited to one or limited use. USPAP (Uniform Standards of Professional Appraisal Practice) - The federal standards that appraisers must abide by when appraising federally related transactions. MLS (Multiple Listing Service) - A system that pools the listings of all member companies. a. Commercial - Chantal specializes in helping ppl buy and sell office buildings and shopping centers. What is her area of specialty? a. Commercial b. Industr