Farming
Specilizing n one type of property or on one particular neighborhood is a practice referred to as
The sale of any improved residential
... [Show More] property 4 units or fewer, including condo units, unimproved property intended for 4 units or fewer, agricultural properties 10 acres or less, leases with options to purchase all or airtime of improved property of 4 or fewer res. Units and disposition of business interest in 4 unit bldg
A residential transaction is defined as
Industrial sales
A business specialization where licensees assist customers in locating and purchasing or leasing warehouse or manufacturing facilities.
NAR
Realtor
A large national organization of real estate professionals whose members are entitled to use the trademark of -----/
NAR Code of Ethics
Code established to promote a higher standards of conduct in yhe real estate profession han rhe law provides.
Clients and customers the public and other real estate licensees
The NAR code ethics and the duties of realtors.
Valuation marketing and property transfer
Real estate professionals are expected to have expert knowledge in these areas
Multiple listing service
This system provide a detail database of properties of all kinds which are available for sale or lease and is a critical resource for the success of your business
Appraisals must always be performed according to USPAP
The following statement regarding property valuation is correct
50 unit motel
This is not considered a residential property according to the Florida statutes
Florida realtors *
This is not a real estate trade organization
Property management
What area of real estate deals with absentee owners who by income producing properties as an investment
475
This chapter of the Florida statutes is the law that specifically regulates real estate licensees schools and appraisers
Reprimand fine probation suspension revocation or denial
The purpose of rule 61J to provide the orders of penalties ranging from lowest to highest
45
All sales associates with her active or inactive my satisfactory complete a Frecon approved post license course that contains how many hours of education prior to their license expiration date
Fraudulent faults deceptive misleading
Advertisements may not be the following
The end of business day
Sales associate who receive the deposit must deliver to the broker or employer no later then how many days following this the receipt of the item to be deposited
Complete 14 hours of continuing education course and pay a fee
Upon failing to complete the 14 our renewal requirements prior to license expiration a licensee may change the involuntary in active status of their license to voluntary in active or active during the first 12 months what must a licensee do to accomplish this
A citation or notice of noncompliance
Minor violations of Florida statute for 75 or 61J2 would typically result in which disciplinary action
10 days
When a licensee changes their employer they must notify the Department of business and professional regulation is within how many
By the end of business day on Wednesday
Sales associate received the deposit check from a buyer on Tuesday what must the sales associate deliver the deposit to the broker
Contribution
Which of the following is the term used to describe the change in value that an improvement makes to a property
Which principle of value is the comparable sales approach based on
Competition
A BPO
A lender request an opinion ofof value for a bank owned property which valuation method would most likely need to be performed
Add $5000 to the price of the comparable
The subject property in a CMA has four bedrooms and three baths a good comparable property has four bedrooms but only two bathrooms a bathroom is valued at $5000 what adjustment should be made
Principle of contribution
This principle states that the value of the property component is the amount it increases the property value one present and decreases the property value went up
Highest and best use
In the data collection and analysis step of the appraisal process what analysis indicates whether the existing improvement contribute to the value or if they should be removed to permit a more profitable use
Real estate owned property or REO
A lender may hire a real estate professional to perform a broker price opinion BPO to help to terminate the selling price of a bank owned property. This type of property is coming we referred to as
Geographic farm
What is a specific geographic location subdivision or area in which you choose to concentrate your real estate activities
Push marketing
This type of marketing is a traditional form of marketing that includes newspapers radio or television ads as well as flyers and mailers
Pull marketing
This type of marketing include any form of social media where relationships are developed that attract the client to you
Resume education professional affiliations and community
Do you listing presentation should include an up-to-date personal profile. It should include
Motivation and expectations
It is important to qualify the seller by asking questions to help you understand their motivation for selling and expectations regarding timing asking price moving plants and financing
Open listing
What type of listing is a union lateral contract with the owner agrees to pay a commission to any broker who provides a ready willing and able buyer underpriced terms agreeable to
Exclusive listing
This type of listing is a type of listing where the owner can list the property with only one broker but the owner can sell the property on their own without going to broker commission
Exclusive right of sale
A broker is best protected by which listing
Purchase and sales contract
Which of the items listed below is not a necessary item to bring to a listing presentation
Guaranteed to find a buyer who will pay your asking price or higher
Which service would not be appropriate to list in your marketing plan as one of the services you provide to the seller
Keep the family photographs and personal items if you to give the home a welcome
Which I'm preparation tip would not be recommended
Exclusive listing
Which type of listing allows an owner to list his or her property with only one broker
Is there any particular type of buyer you would like me to locate
Which question would not be suggesting qualifying the seller
Primary mortgage market
Where do borrowers and mortgage originators come together today no she terms and effect mortgage transactions
The secondary mortgage market
This market was about to provide a constant source of funds for making real estate loans. It consists of lenders who purchase mortgage loans and assemble them into one or more loan packages for resale to other lenders or investors
Conventional loan
Any loan that is not insured or guaranteed by the government
Conventional loans for 15 to 30 years
For what. Our loans made by lending institutions and private lenders usually for
The FHA interest loans and VA loans are guaranteed
There are three types of mortgage conventional FHA and VA. Which statement echo describes [Show Less]