Chp 1 Introduction to the Real Estate Business
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One who acts as an intermediary on behalf of
others for a fee or commission. Pg 4
A person who has the skills and knowledge to be
licensed in real estate.
A place where goods can be bought and sold and a
A person who performs real estate activities
while employed by or associated with a licensed real estate broker.
The appraisal principle that follows the interrelationshipof the supply of and demand for real estate. Because appraising is based oneconomic concepts, this principle recognizes that real property is subject tothe influences of the marketplace as with any other commodity
Supply and demand
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