Term
| A professional estimate of a property's market value, based on established methods and using trained, unbiased judgment, is performed by a |
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Term
| True or False? In general, when the supply of a certain commodity increases, price tends to drop. |
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| What is the most important factor that affects supplu in the real estate market? |
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Definition
| Government financial policies. |
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Term
| 4 Factors that influence demand for real estate. |
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Definition
1. Wage levels and empolyment opportunities.
2. The price of new homes being built in the area.
3. The number of the full-time real estate salespersons in the area.
4. The number of real estate brokers in the area. |
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Term
| Property management, appraisal, financing, and development are all examples of, |
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Definition
| Specializations within the real estate industry. |
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Term
| A REALTOR is best described as an individual who is |
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Definition
| a member of the Nataional Association of REALTORS. |
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Term
| A major manufacturer of automobiles announces that it will relocate one of its factories, along with 2,000 employeees, to Benton. What effect will this announcement MOST LIKELY have on Benton's housing market? |
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Definition
| Houses will likely become more exspensive as a result of the announcement. |
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Term
| A licensee who has several years of exsperience in the industry decided to retire from actively marketing properties. Now she helps clients choose among the various alternatives involved in purchasing, using, or, investing in property. What is her profession? |
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Term
TRUE OR FALSE.
The words broker and REALTOR are different titles offered by separate profession organizations. |
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Term
| Schools would be considered part of which real estate classification? |
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