module 1

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Author:
402ari6361
ID:
88293
Filename:
module 1
Updated:
2011-05-29 13:40:41
Tags:
real estate
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module 1 fill in the blanks
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  1. The ______________ __________ _________ is comprised of people whose activities and interactions involve buying, selling, exchanging, leasing, renting, improving, and using real property.
    REAL ESTATE BUSINESS
  2. A(n) __________ __________ of real estate usually holds property for the production of income and long-term benefits, such as appreciation, tax shelter, and income from the eventual sale of the property.
    OWNER INVESTOR
  3. When a broker is acting as a single agent for others, the party employing the broker is called the __________ or ____________.
    CLIENT OR PRINCIPLE
  4. The broker owes the princpal the ___________ _________ of obedience, loyalty, confidentiality, accounting, and the duty to use skill, care, diligence.
    FIDUCIARY DUTIES
  5. Compensation must come from the _________ _______ for real estate services.
    OWNER EMPLOYER
  6. A broker offering limited representation to any party would be a(n) _______ _______.
    TRANSACTION BROKER
  7. An individual who passed he broker's State examination and wishes to perform real estate services, but does not desire to become an active broker would be registered as a(n) ______________ __________.
    BROKER ASSOCIATE
  8. A sales associate may be employed by a(n) ________ or a(n) _________ _________.
    BROKER OR OWNER-EMPLOYER
  9. A builder who builds a home without a contract from a buyer and with the hope of selling this home to a potential buyer would be in ____________ ________.
    SPEC BUILDING
  10. Brokerage firms often speacialize in a particular geographic area, property, or client type using a marketing method called _______ to solicit business from the targeted client.
    FARMING
  11. The primary responsibilty of a property manager is to obtain the _________ _______ _______ _______ for the landlord and protect the owner's investment.
    HIGHEST POSSIBLE NET INCOME
  12. When buyers select floor plans based on the model home, it is called __________ _________.
    TRACT BUILDING
  13. Counselors are usually compensated on a _____ _____ ______ whether or not the advice is used.
    FLAT FEE BASIS
  14. The largest real estate trade association is the _______ _______ _____ ______.
    NATIONAL ASSOCIATION OF REALTORS

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