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Principles of RE
Modern RE Practice - 18th Edition CH 1
|A person or company licensed to buy, sell, exchange, or lease real property to others and to charge a fee for these services.
|A licensee employed by or associated with the broker and conducts brokerage activities on behalf of the broker.
|A place where goods can be bought and sold and a price established.
|Dividing of single property into smaller parcels.
|Construction of improvement on the land.
|6 categories of real property
|residential commercial mixed-use industrial agricultural special-purpose
|2 characteristics of land that have the most impact on the market
|Uniqueness (non-homogeneity) & Immobility
|Factors affecting real estate supply
|Labor force availability construction material costs government controls financial policies
|Factors affecting real estate demand
|population demographics employment & wage levels