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Section 1 Real Estate Business, Azure Tide Realty Exam Questions and Complete Solutions Graded A+
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Section 1 Real Estate Business, Azure Tide Realty Exam Questions and Complete Solutions Graded A+
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Section 1 Real EstateBusiness, Azure Tide
Realty Exam Questions
and Complete Solutions
Graded A+
absentee owner - Answer: A person or entity who owns a piece of real estate but does not live in it.
Often the person may reside in another state. An absentee owner entity may be a corporation or real
estate investment trust (REIT).
Appraisal - Answer: is the process of estimating the value of real estate.
Appraiser - Answer: is a professional who has the knowledge and expertise necessary to estimate the
value of property.
broker price opinion (BPO) - Answer: is the estimated value of a property as determined by a real estate
broker or other real estate licensee working under the direction of a broker.
Business opportunity - Answer: involves sale or lease of any product, service, equipment, etc. that will
enable the purchaser-licensee to begin a business. It involves not only the sale of the property but of the
business itself. It may actually be for the sale of a business without the real estate as many businesses
operate in locations utilizing a lease.
comparative market analysis (CMA) - Answer: is an assessment of value that a real estate licensee
generally gives when helping a seller determine an appropriate list price. Buyers also request CMA's to
assist them in deciding how much to offer on a property. CMA's may be conducted for a fee. CMAs do
not need to comply with USPAP standards as a CMA is not an appraisal.
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