Real Estate

Which of these activities requires a real estate license in North Carolina? Offering to help another person sell their real estate in exchange for compensation. Which of these tasks may the unlicensed employees at ABC Brokerage perform? Call a client to schedule an appointment with a licensee. Broker Ursula is speaking with Joel, who is beginning the process of looking for a home to buy. She presents the Working With Real Estate Agents brochure. Which of these is NOT part of Ursula...

Real property Land & everything that is permanetly attached to the land & everything that is appurtenant to the land Personal property (personalty) All propery that doesn't fit the definition of real property. CHATTLES are moveable Land The earth's surface extending downwards to the center of the earth & upward to infinity

Realtor- CORRECT ANSWER 100 test A 40,000 mortgage for a term of 20 years was originated at an 8%interest rate,with monthly mortgage payments of 334.58 what is the principal balance remaining after the second monthly payment ?- CORRECT ANSWER $39,863.72 If the price of a lot $9 per square food how many square feet are contained in a lot that sells for 27000- CORRECT ANSWER 3,000 what is the tax levy of a non-homestead property that is as seed at 36000 with a tax rate of 11 mills?- CORRECT...

Real Estate Brokerage (Ch. 1) - CORRECT ANSWER A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - CORRECT ANSWER concentrating on one type or style of property in one particular area of neighborhood Property Transfer, Valuation & Marketing (Ch. 1) - CORRECT ANSWER areas of expert knowledge that are required for all real estate licensees Residential Transaction (Ch. 1) - CORRECT ANSWER F.S 475 The sale of...

What is Farming? - CORRECT ANS Agent dominates specific area/neighborhood/town Also known as door to door. What are the three areas sales associates must be experts in? - CORRECT ANS Must be experts in Valuation, Marketing, and Property Transfer What key knowledge must you have to be involved in Industrial Sales? (Not needed for commercial sales) - CORRECT ANS Government Law (Environmental) What is It called when a Developer builds a center in track where sales are made? - CORRECT ANS T...

Tract building - CORRECT ANS When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level - CORRECT ANS Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and desirability of real estate Broker associate - CORRECT ANS A licensed broker working for another broker False - CORRECT ANS A florida real estate license applicant must be...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - CORRECT ANSWER C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage...

Leasehold Estate- Estate for Years correct answer: A lease for a specific perios of time, with no renewal option. No notice required. Death will not terminate. Leasehold Estate- Periodic Tenancy (Estate from year to year) correct answer: Month to Month, usually one rental period notice. Proper notice is 60 days from landlord to tenant, and 30 days from tenant to landlord. Automatically renews, if no notice. Leasehold Estate- Estate at will correct answer: Lawful possesion. No time peri...

Which segment of the real estate market does the subject product satisfy? Who is the market? Does the product provide what the buyer is looking for? correct answer: Utility Is there a demand for this real estate product? Are there any potential buyers? correct answer: Desire How competitive is the subject property in its market segment? (How supply and demand interact-number of homes versus number of buyers.) correct answer: Scarcity Is the value of the product similar to the price? ...

An analysis of the market conditions of supply, demand, and pricing for a specific property type in a specific area. (General) correct answer: Market Study The study of how a specific property is expected to perform in a specific market. It expands on a market analysis by addressing a specific property. (Specific) correct answer: Marketability Analysis The study of the supply and demand in a specific area for a specific type of property. correct answer: Market Analysis The process by...