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23 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Brokerage |
The business of bringing people together in a real estate transaction. |
People +real estate |
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Broker |
A point of contact between two or more people in negotiating the sale, purchase, or rental of property. |
Contact person |
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Salesperson |
A licensee employed by or associated with the broker. |
Licensee |
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Licensee |
A person who has satisfied the requirements set forth by the licensing agency or state legislation |
Satisfied requirements |
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Appraisal |
The process of estimating a property's market value, based on established methods and the appraiser's professional judgments. |
Estimating, methods, judgment |
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Property Management
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Person or company hired to maintain or manage property on behalf of its owner. |
manage on behalf |
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Financing
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The business of providing the funds that make real estate transactions possible |
money |
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Subdivision
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Dividing of a single property into smaller parcels. |
division |
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Development |
Involves the construction of improvements on the land. |
build
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Home Inspectors
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Conduct a thorough visual survey of a property's structure, systems, and site conditions and prepare an analytical report that is both valuable to both purchasers and homeowners. |
analytical report |
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NAR
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National Association of Realtors |
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WRA
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Wisconsin Realtors Association |
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6 Categories of Real Property
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Residential, Commercial, Mixed-use, Industrial, Agricultural, Special-purpose
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r, c, m-u, I, a, s-p
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Residential
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All property used for single-family or multifamily housing, whether in urban, suburban, or rural areas. |
familia |
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Commercial
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business property, including office space, shopping centers, stores, theaters, hotels, and parking facilities. |
business |
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Mixed-use
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property that allows for two uses, commercial and residential, in the same building. |
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Industrial
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warehouse, factories, lad in industrial districts, and power plants.
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Agricultural
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farms, timberland, ranches, and orchards. |
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Special-purpose |
churches, schools, cemeteries, and government-held lands. |
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Market |
A place where goods can be bought and sold |
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Supply and demand
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The appraisal principle that follows the interrelationship of the supply of and the demand for real estate
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Factors Affecting Supply
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labor force, construction and materials costs, government controls and financial policies |
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Factors Affecting Demand |
population, demographic, and employment and wage levels |
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