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Bob Hogue Real Estate Unit 1 QUESTIONS & ANSWERS SOLVED.
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Bob Hogue Real Estate Unit 1 QUESTIONS & ANSWERS SOLVED.
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Bob Hogue Real Estate Unit 1QUESTIONS & ANSWERS SOLVED
Complex .real .estate .transactions .- .(correct .answer) .-
Demand .the .services .of .licensed .real .estate .associates, .appraisers, .attorneys, .bankers, .title .insurance
.agents, .architects, .surveyors, .and .accountants
Residential .real .estate .v. .Commercial .real .estate .- .(correct .answer) .-
Residential: .often .the .greatest .source .of .wealth .and .savings .for .individuals .
Commercial: .addresses .the .need .for .retail, .office, .and .manufacturing .space
The .product .that .a .real .estate .sales .associate .must .market .is ._________ .________. .- .
(correct .answer) .-Expert .Information
The .three .areas .of .expertise .real .estate .licensees .bring .to .the .transaction .relate .to .______________,
.______________, .and .______________ .______________. .- .(correct .answer) .-
1. .Knowledge .of .*Property .Transfer*
2. .Knowledge .of .*Market .Conditions*
3. .Knowledge .of .*How .to .market .real .estate .and .businesses*.
Property .Transfer .- .(correct .answer) .-
transfers .of .title, .property .taxes, .financing, .and .local .zoning .ordinances.
Marketing .Conditions .- .(correct .answer) .-
Changes .in .______________ .______________ .are .due .to .changes .in .income .tax .laws, .building .morat
oriums, .and .fluctuations .in .supply .and .demand.
How .to .market .real .estate .and .businesses .- .(correct .answer) .-
*Sale .presentation* .that .is .*most .effective* .when .working .with .a .physician .relocating .to .a .new .city .
, may .be .completely .different .from .the .approach .used .to .assist .the .owner .of .an .expanding .gourmet .
coffee .bar .in .choosing .an .additional .location.
Real .Estate .Brokerage .- .(correct .answer) .-
business .of .bringing .together .buyers .& .sellers, .owners .& .renters, .& .completing .real .estate .transacti
ons.
Five .(5) .Components .of .real .estate .brokerage .- .(correct .answer) .-
1. .sales .and .leasing, .2. .property .management, .3. .appraising, .4. .financing, .and .5. .counseling.
Sales .and .Leasing .- .(correct .answer) .-The .broker .act .as .an .agent .or .an .intermediary .between .two .or
.more .people .in .the .*negotiation* .of .the .*sale, .purchase, .or .rental .of .real .estate*.
Five .(5) .major .sales .specialties .- .(correct .answer) .-
1. .Residential, .2. .Commercial, .3. .Industrial, .4. .Agricultural .and .5. .Businesses
1. .Residential .- .(correct .answer) .-
Best .access .routes .and .locations .of .schools, .shopping .facilities, .and .recreation .facilities. .They .must .b
e .able .to .*explain .property .taxes, .homestead .exemptions, .restrictive .covenants*, .and .approximate .u
tility .costs .in .the .area.
*Restrictive .covenants* .are .binding .legal .obligations .written .into .the .deed .of .a .property .contract, .us
ually .by .the .seller. .These .covenants .can .be .either .simple .or .complex .and .can .*levy .penalties .against
.buyers .who .fail .to .obey .them*.
2. .Commercial .- .(correct .answer) .-Need .expertise .regarding .Income-producing .properties, .investment
.analysis, .and .the .various .techniques .for .increasing .after-tax .cash .flow.
Examples .of .income-producing .commercial .properties: .- .(correct .answer) .-
Improved .residential .property .of .more .than .four .units, .retail .stores, .office .buildings, .and .shopping .c
enters.
3. .Industrial .- .(correct .answer) .-
technical .knowledge .of .the .needs .of .different .industries, .such .as .*transportation .requirements, .indu
strial .construction .methods, .and .local .land-use .restrictions* .affecting .industrial .properties.
4. .Agricultural .- .(correct .answer) .-
Must .be .familiar .with .operation .of .farms .and .the .*economic .problems .associated* .with .the .various .
types .of .farming. .Real .estate .licensees .who .specialize .in .agricultural .real .estate .are .knowledgeable .a
bout .*farm .operations* .and .the .*federal .programs* .affecting .farm .operations.
5. .Businesses .- .(correct .answer) .-Involves .the .sale .or .lease .of .an .existing .business, .including .the .sale
.of .tangible .and .intangible .assets.
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