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5 Cards in this Set
- Front
- Back
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Broker
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(1) One who acts as an intermediary on behalf of others for a fee or commission. (2) One who is licensed to list, lease, buy, exchange, auction, negotiate or sell interest in real estate for others for a fee.
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Business cycle
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The upward and downward fluctuations in business activities generally characterized by four stages.: expansion, recession, depression, and revival.
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Chattel
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"Personal property" Items also called personalty, that do not fit into the definition of real property; moveable objects. Examples would include furniture, clothing, jewelry, money, vehicles, etc.
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Demand
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The amount of goods people are willing and able to buy at a given price; often coupled with supply.
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Heterogeneity
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The uniqueness of land is also referred to as its nonhomogeneity.
Uniqueness: no two parcels of land are ever exactly the same. |
