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10 Cards in this Set
- Front
- Back
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Broker |
One who acts as an intermediary on behalf of others for a fee or commission |
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Licensee
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A person who has the skills and knowledge to be licensed in real estate |
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Market |
A place where goods can be bought and sold and a price established |
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Salespersons |
A person who performs real estate activities while employed by or associated with a licensed real estate broker |
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Supply and Demand |
The appraisal principle that follows the interrelationship of the supply of and demand for real estate.Because appraising is based on economic concepts, this principle recognizes that real property is subject to the influences of the marketplace as with any other commodity |
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Accession |
Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks and streams
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Air Rights |
The right to use the open space above a property, usually allowing the surface to be used for another purpose |
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Annexation
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Process of converting personal property to real property |
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Appurtenance
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A right, privilege or improvement belonging to and passing with, the land; "Runs with the land"
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Area preference
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People's desire for area over another, based on a number of factors such as history,reputation convenience, scenic beauty, and location. |
