RealestateU- Texas
Principals of Real Estate
Part 1- 2024 Exam
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]
, Brokerage - Answer: The business of bringing buyers and sellers together and assisting in negotiations
for the terms of sale of real estate
Real Estate Broker - Answer: A person or an organization acting as the agent for others in negotiating
the purchase and sale of real property or other commodities for a fee
Real Estate Salesperson - Answer: A person performing any of the acts included in the definition of real
estate broker but while associated with and supervised by a broker.
Residential Property - Answer: A type of property that includes one to four dwelling units
Commercial Property - Answer: Property that produces rental income or that is used in business.
Properties with five or more dwelling units are considered commercial property
Industrial Property - Answer: Property that is used by companies or persons for manufacturing,
warehousing, or the assemblage of components.
Special Purpose Property - Answer: A category of real property created as a result of combining the land
and its improvements for a single highest and best use
Mixed Use Property - Answer: Any urban, suburban or village development, or even a single building,
that blends a combination of residential, commercial, cultural, institutional, or industrial uses, where
those functions are physically and functionally integrated, and that provides pedestrian connections.
Improvements - Answer: Changes or additions made to a property, such as walls and roads. These
typically increase the value of a property, except in some cases of over improvements
Non-Homogeneity - Answer: A physical characteristic of land describing that land as a unique
commodity
Value - Answer: The present worth of future benefits
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YourExamplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
