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Commercial Real Estate Exam With Accurate Answers
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Commercial Real Estate Exam With AccurateAnswers 2024-2025
Other agents prefer commercial clients because they are focused on the numbers,
which eliminates emotion from the equation.
Challenge #4: Determining actual property ownership. - Answer Brokers working with
commercial take longer to research exactly who the contact for a given property would
be. Many commercial properties are not individually owned, but rather by LLCs, further
complicating the task of determining who the contact person for any particular property
would be.
Find a mentor - Answer One of the most critical things that an individual starting out in
real estate can do is to join a company with a strong training and support system. Since
transitioning into commercial real estate is a big step, mentorship is invaluable.
Mentoring means one person assists another to achieve something.
Develop a master database - This is going to be one of your biggest business assets.
Pick an area of town to prospect, then compile a list of properties and their owners.
Learn to budget - Answer Before you can really begin in commercial real estate, you
need to sit down and decide on a monthly budget for yourself. The first step in
determining a budget is to begin by calculating your monthly expenses.
Commercial brokerage firms look for straightforward types of individuals that they
believe would aid in the development of their business: - Response • Established
residential agents who have already established a personal business
• Newly licensed individuals who demonstrate a preference for some segment of
commercial real estate, such as retail leasing, or who have specific knowledge
regarding some niche market for example, industrial or manufacturing
, Commercial has - Answer No TREC-promulgated forms
Low-rise - Answer Low-rise buildings generally have 1 to 3 stories and are frequently
found in residential areas rather than highly active urban settings.
Garden-style complexes within cities are usually older construction that appeal to
tenants as the grounds can easily be accessed for pets and young children and often
provide very basic amenities such as pools, small exercise facilities, and sidewalks.
Shadow Anchors - Solution Shadow anchors are also very similar. Shadow anchors are
generally well-known stores owned by the retailer and not the shopping center owner,
but are in or adjacent to the center and draw traffic therein.
Double Dumbbell - Solution As regional malls expanded in size, the simple dumbbell
configuration evolved into a double dumbbell. The numerous mallrats of the 80s and 90s
are all too familiar with the shopping mall designed in the shape of a double-dumbbell.
The double dumbbell shape literally forms an "X" shape-like two dumbbells placed atop
of one another-crosswise. The cross provides locations for four anchor tenants situated
at the north, south, east, and west wings of the center. Retail shops face each other
along the arms of the cross, sharing common walkways. Double dumbbells also often
extended upward adding a second or even third story of shopping and dining. Parking
surrounds the center on all sides and in some cases garages were constructed to
accommodate tenant and consumer parking.
Long-term lease with high yields Attract Answer to the industrial properties because
there are risks to consider including, cost, obsolescence, and vacancy is a particularly
important factor of special-purpose and single-purpose properties.
Resident manager Answer The residential property managers can use an apartment at
the property that they manage and work for either an individual property owner or a
property management company
ADA-Americans with Disabilities Act - Answer far-reaching law that impacts nearly all
places of public accommodation, which includes but is not limited to retail stores, real
estate offices, concert halls, public buildings, professional offices, restaurants bars and
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