Modern Real Estate Practice 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| A professional opinion of a property's market value, based on established methods and using trained judgement, is performed by | show 🗑
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| show | the price tends to drop. If demand is constant and supply increases, sellers compete with each other by lowering prices.
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| Which factor primarily affects supply in the real estate marktet? | show 🗑
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| Which factor is MOST likely to influence demand for real esate? | show 🗑
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| show | Specializations within real estate. Every real estate professional must have basic knowledge of these specialties.
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| show | Fair housing. Fair housing laws prohibit discriminatory practices against protected classes of individuals.
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| A major manufacturer of automobiles announces that it will relocate one of its factories, along with 2,000 employees, to a small town. What effect will this announcement MOST likely have on the small town's housing market? | show 🗑
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| A real estate professional with several years of experience in the industry retires from actively marketing properties. Now they help clients choose among the various alternatives i.e. purchasing, using, or investing in property. What's their profession? | show 🗑
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| Nationwide Multistate Licensing System and Registry was created to register? | show 🗑
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| show | Special purpose. Special purpose properties include schools, churches, cemeteries, and municipal service building.
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| When demand for a commodity decreases and supply remains the same, | show 🗑
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| The difference between the cost basis of property and its net selling price is | show 🗑
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| show | Leverage. As a rule, an investor can receive a maximum return from the initial investment by making a small down payment, paying a low interest rate, and spreading mortgage payments over as long a period as possible.
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| All of the following are categories of the uses of real restate EXCEPT | show 🗑
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| show | Monetary policy. Government monetary policies affect the supply of land available for development. Population, demographics, and wage levels affect demand for real estate.
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| All of the following affect how quickly the forces of supply and demand work EXPECT | show 🗑
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| show | Home inspector. The home inspector, who prepares an analytical report of a visual inspection of the property's structure and systems, is becoming more important in the real estate transaction as more consumer rely on these reports when buying property.
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| show | Cost recovery. Depreciation, or cost recovery, allows an investor to recover the cost of an income-producing asset through tax deductions over the asset's useful life.
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| A person or company responsible for maintaining a client's property and maximizing the return on the client's investment is serving as | show 🗑
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| Detailed information about the age, education, behavior, and other characteristics of members of a population group is called | show 🗑
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Created by:
jr84