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20 Cards in this Set
- Front
- Back
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A professional opinion of a property's market value, based on established methods and using trained judgment, is performed by a...
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Real Estate Appraiser
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In general, when the supply of a certain commodity increases |
Price tends to DROP |
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Which factor primarily affects supply in the real estate market?
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Governmental monetary policy |
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Which factor is MOST likely to influence demand for real estate?
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Property management, appraisal, financing, and developmental are examples of
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Specializations within the real estate industry |
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A REALTOR is BEST described as an individual who is
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a real estate licensee and a member of the National Association of REALTORS (NAR) |
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A major manufacturer of automobiles announces that it will relocate one of its factories, along with its 2,000 employees, to a small town. What effect will this announcement MOST likely have on the small town's housing market? |
Houses will most likely become more expensive
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A real estate professional who has several years of experience in the industry decided to retire from actively marketing properties. Now this person helps clients choose among various alternatives involved in purchasing, using, or investing in the property. What is the person's profession? |
Real estate counselor |
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The words BROKER and REALTOR are |
not necessarily related; a broker is a real estate licensee, and a realtor is a real estate licensee who is a member of the National Association of REALTORS
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Schools would be considered part of which real estate classification? |
Special-Purpose |
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When demand for commodity decreases and supply remains the same,
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prices tend to FALL |
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A licensed real estate professional acting as a point of contact between two or more people in negotiating the sale, rental, or purchase of property known as a(n)
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broker |
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An increase in the following would affect supply except
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construction costs governmental controls the labor force |
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All of the following are categories of the uses of real property except
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developmental |
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All of the following would affect demand except
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population demographics wage levels monetary policy |
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All of the following affect how quickly the forces of supply and demand work except |
a property's specific geographic location or degree of standardization of the property's price |
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A real estate professional who performs a visual survey of the property's structure and prepares a report for the purchaser or an owner is a
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home inspector |
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When the supply of commodity decreases while demand remains the same, prices tends to |
Rise
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A person or company responsible for maintaining a client's property and maximizing the return on the client's investment is serving as |
a property manager |
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Detailed information about the age, education, behavior, and the other characteristics of the members of a population group is called
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Demographics |
