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Bob Hogue UNIT 1 Questions and Answers | Updated
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Bob Hogue UNIT 1 Questions and Answers | Updated
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Bob Hogue UNIT 1 Questions and Answers |Updated 2024-2025
Expert information - ANSWER The product that a real estate sales associate
must market is
Three areas of expertise that real estate licensees bring to the transaction -
ANSWER Knowledge of... property transfer, market conditions, how to market
real estate and business
Five major sales specialties - ANSWER Residential, Commercial, Industrial,
Agricultural, Businesses
Farm area - ANSWER An area a real estate professional often specializes in one
particular geographic area or property type.
Target Marketing - ANSWER Developing a database of prospects to direct a
specific message.
Absentee Owner - ANSWER property owner who does not reside on the
property & who often relies on a professional property manager to manage the
investment
True - ANSWER Rental agents collect a fee for finding a tenant meanwhile
Property Managers continue to manage the property once a tenant is secured.
True
, False
A property managers charge is to protect the owners investment and maximize
the owners return.
True
False - ANSWER True
Management Agreement - ANSWER The scope of work a property manager
performs
A state certified or licensed appraiser must conduct an appraisal when the
valuation assignment involves originating a federally related mortgage loan.
True
False - ANSWER True
If a sales associate performs a BPO, the compensation must be paid to the broker
and not directly to the sales associate who prepared the BPO.
TRUE
FALSE - ANSWER True
USPAP (Uniform Standards of Professional Appraisal Practice) - ANSWER A set
of guidelines to follow when providing appraisal services.
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