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Real Estate Marketing: Commercial Real Estate (SAE) questions and answers
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Real Estate Marketing: Commercial Real Estate (SAE) questions and answers
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Real Estate Marketing: Commercial Real Estate (SAE) questions and answers General Lien (also Statatory) - correct answer ✅attaches to all the property of the debtor, not exempt from forced sale (Example: a judgment or IRS lien)Diplomacy - correct answer ✅the ability to handle clients and situations in a sensitive and effective way - is critical in commercial real estate, and a lack of it can expose you immediately as a beginner.
DTPA - correct answer ✅The Deceptive Trade Practices Act (DTPA) is a Texas law that was passed in 1973. It allows an aggrieved consumer to sue a seller of goods for damages. The act by the seller of the goods has to be deceptive or unfair for the consumer to successfully sue for monetary damages.
CCIM - correct answer ✅The CCIM Institute was established in 1954 to give commercial real estate practitioners an opportunity to further their business practices through education and networking opportunities. The institute administers the Certified Commercial Investment Member (CCIM) designation. "Gold Standard"
ICSC - correct answer ✅International Council of Shopping Centers - The purpose of
The International Council of Shopping Centers (ICSC) is to advance the shopping Real Estate Marketing: Commercial Real Estate (SAE) questions and answers center industry and to promote its role in the commercial distribution of consumer goods and services.
comprehensive database - correct answer ✅This will be one of the greatest assets of your business. Pick a geographical region to farm, and assemble a database of properties and property owners.
Canons of Professional Ethics and Conduct - correct answer ✅FIDELITY
INTEGRITY
COMPETENCY
CONSUMER INFORMATION DISCRIMINATORY PRACTICES
caveat emptor - correct answer ✅are two Latin words that most people have heard at some point - "let the buyer beware." All real estate transactions in Texas are done "as is."
IREM - correct answer ✅Institute of Real Estate Management is an international community of real estate managers dedicated to ethical business practices, maximizing the value of investment real estate, and promoting Real Estate Marketing: Commercial Real Estate (SAE) questions and answers superior management through education and information sharing. IREM membership includes more than 18,000 individuals and 550 corporate members.
BOMA - correct answer ✅Building Owners and Managers Association is a federation of 93 BOMA U.S. associations, BOMA Canada, and 13 BOMA international affiliates. BOMA International's members are building owners, managers, developers, leasing professionals, corporate facility managers, asset managers, and the providers of the products and services needed to operate commercial properties.
Intermediary brokerage - correct answer ✅All commercial brokers practice intermediary because it is in their best interests to do so. As the intermediary, the broker can sell one of his own listings to a buyer. This is the reason that many properties are never listed on the market as "for sale." It is more beneficial to keep the commission in-house, so others are not vying for a part of the commission.
fair housing - correct answer ✅laws exist at the federal, state and local levels to ensure that all citizens have unob- structed access to housing. Residential agents must always adhere to all fair housing laws and cannot discriminate or refuse to sell or rent property based upon a buyer's race, color, national origin, religion, sex,
familial status or handicap.
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