Florida Real Estate Exam 200 Questions And Answers Set 01
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Terms in this set
200
Five major sales specialties
Residential, Commercial, Industrial, Agricultural, and Business.
Role of property managers
A property manager leases, manages, markets, and maintains a property for a single owner.
Difference between property managers and association managers
Property managers manage properties for individual owners, while association managers manage Homeowners' Associations, condominium complexes, and cooperative associations.
Activities requiring appraiser services
A licensed appraiser MUST appraise value for any government-funded purchase.
Real estate licensee appraisal
A real estate licensee MAY appraise a property for non-government sales (cash and under $400,000 price), provided they follow the Uniform Standards of Professional Appraisal Practice (USPAP) guidelines.
Comparative Market Analysis (CMA)
A Comparative Market Analysis assists sellers in determining a list price and buyers in determining a purchase price for a property.
Broker Price Opinions (BPO)
Banks often hire sales associates to perform Broker Price Opinions which are quick valuations for properties in the process of foreclosure, or for investors to determine a quick valuation.
Real estate brokerage
A real estate brokerage is a business that is registered to conduct the business of real estate and to provide the services stated as part of the business.
Activities of real estate brokerage
Real Estate Brokerage consists of various specialized services including Buying, Appraisal, Rental Management, Exchange, Selling, Auction, Leasing, Advertising, and Discussing property Details, potential rents, and contracts.
Three phases of development
The three phases of development are Plat maps and approval, infrastructure (streets, plumbing, lights), and finally homes built through the developer or a builder.