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Exam (elaborations)

Real Estate Gold Coast Exam Questions And 100% Correct Answers

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  • Course
  • Real Estate Gold Coast
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  • Real Estate Gold Coast

Real Estate Gold Coast Exam Questions And 100% Correct Answers...

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  • October 7, 2024
  • 42
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate Gold Coast
  • Real Estate Gold Coast
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Easton
Real Estate Gold Coast Exam Questions And
100% Correct Answers


Broker

Acts as an agent or intermediary between two or more parties for the purpose of
negotiating the sale, purchase, or rental of real estate



Sales associate

An individual employed by the broker to provide services to buyers and sellers on behalf
of the broker

Farming

The concentration of attention on one type or style of property or on one particular
neighborhood



Farm area target market

Territory or area in which a real estate licencee focuses their business efforts



Transfer Components

Deeds, mortgages, surveys, appraisals, contracts, title insurance, floodplains, zoning
and building codes



Comparative Market Analysis

An estimate of value based on recent sales of comparable properties within a specific
neighbourhood. (Cannot be called an appraisal)



Broker Price Opinion

includes a neighborhood analysis of comparable properties w/ local and regional market
information (less comprehensive than an appraisal but require more analysis)

,A real estate licensee who desires to prepare an appraisal must do so under the.

development and reporting requirements of the Uniform Standards of Professional
Appraisal Practice (USPAP)

expert knowledge areas required for real estate licensees

property transfer, valuation and marketing conditions, marketing

Residential Transaction

1) Sale of any improved residential property of four units or fewer

2) Unimproved property intended for four units or fewer

3) agricultural properties of ten acres or less



Real Estate licensees must be able to analyze.

The past and future potential income derived from an investment company



Commercial real estate brokers must also have a basic knowledge of.

Tax laws affecting income produced from commercial property and the tax implications
of buying and selling investment property




Industrial properties include what?



Warehouses and manufacturing plants




Industrial sales

Normally are users/owners instead of investors

,Industrial real estate brokers attempt to.

Locate properties that will meet the needs of the future owner. (Knowledge regarding
government regulations of land use, environmental concerns, transportation, labor
costs, and utility charges are crucial)




Business broker

specialises in listing and sale of businesses (business opportunities)

Must be capable of evaluating the value of a business being offered for sale or purchase

List

Absentee owners

Owners that purchase rental property as investments and rely on pros. to manage

Property manager's duties

finding tenants, collecting rent, paying all taxes, insurance and other expenses, keeping
records, and scheduling repairs

Community Association Manager's licence is required CAM

Required when the community association employs a property manager who receives
compensation for certain management services and the community association served
contains more than 10 units or has an annual budget in excess of $100,000



Appraisal fees are based upon

The time, effort and expense involved for completion of the assignment, not on the value
of the property



Contract building

, is when a developer acquires a large tract of land, records a subdivision plat map, and
uses a model center from which sales may be made.



local level regulation

planning and zoning, property taxation, building and health code regulations. Local
government can also impose a Moratorium or temporary delay for a building project




Commission

Florida Real Estate Commission (FREC)



Department

Department of Business and Professional Regulation (DBPR)



Division

Division of Real Estate (DRE)




Requirements for a licensed sales associate seeking broker

Must have been employed with no more, and no less than one actively licensed broker
for at least 24 months during the five years immediately preceding qualification for the
state broker examination



Broker associate

An applicant for a broker license may choose to remain employed in a sales associate
capacity with the current employer following the passing of the state broker
examination

Broker Associate A person qualified to receive a broker license, but who chooses to be
employed subject to the direction, control, and management of an actively licensed

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