---- Flashcards
(24 cards)
_______ units or more is considered commercial.
5
1-4 units are considered _____________ units.
residential
______________ property is of ten or fewer acres.
Agricultural
If you want to work doing commercial sales and leasing, go work for a __________ who does.
Broker
__________________ Sales or Leasing:
- Extensive knowledge
- Analyze past & future income
- Tax consequences
- Includes
- Apartment buildings
- Office buildings
- Shopping Centers
Commercial
_________________ Sales or Leasing
* Involves user/owners not investors
* Knowledge required
* Government regulations - land use
* Environment
* Transportation
* Labor
* Utilities
Industrial
__________________ Sales
* Large tracts of land
* Large sums of money
* Analyze profitability
* Estimate potential of properties under consideration
Agricultural
____________ Brokerage
- Listing and sale of businesses
- Analyze financial statements
- Going concern value
- Income, assets, (inventory)
goodwill (reputation; of seller for
example)
Business
______________________ is needed for…
- Leasing, Managing, Marketing and Overall Maintenance of property for others
- Owner’s representative
- Produce the greatest amount of Net Income over the longest period of time
Absentee owner: - Primary reason why people need it
Property Management
____________________ is a Fundamental Aspect of
Real Estate where licensee estimates the value of real property.
- Paid based on time, effort and expense
- Not paid on property value - conflict of interest
- Is a non-biased opinion of value
Appraising
_____________ building is when a contractor builds a structure before securing a buyer with the hope of selling the finished structure. This is also referred to as building on spec.
Speculative
______________ building is when a contractor is employed to build a structure according to the customer’s specifications.
Custom
_______________ building is when a developer acquires a large tract of land, records a subdivision plat map, and uses a model center from which sales may be made.
Tract
GOVERNMENT REGULATION:
Planning and zoning, property taxation, building and health code regulations are controlled by _________ level governments.
Local
Local government bodies can also impose a ________________ or temporary delay for a building project. This can be due to environmental concerns, or ensuring that adequate utilities are in place to support new housing developments, etc. Building permits would be held until these situations are corrected.
moratorium
A licensed sales associate who wishes to apply to be a broker; does their licensure under an owner-developer satisfy this requirement?
No
An applicant for a broker license may choose to continue employment in a sales associate capacity with a current employer subsequent to passing the state broker examination. If so, the applicant will be registered as a ____________________ after passing the broker examination.
broker associate
Does an applicant for a Florida real estate license required to be a resident of the state of Florida, or to be a citizen of the United States. [F.S. 455.10]
No
All active or inactive licensees, whether a broker or sales associate, must complete 14 hours of Commission-approved ____________________ and pay a renewal fee during each license renewal period, excluding the first renewal period of their current license. If the CE requirement is not met within the renewal deadline, the licensee’s license status will be changed to involuntary inactive.
continuing education (CE)
__________________ are persons who are granted authority under a power of attorney to act for others in some capacity, such as signing documents.
Attorney-in-fact
Are salaried employees of an owner, or of a registered broker for an owner, of an apartment community who work in an onsite rental office of the apartment community in a leasing capacity exempt of licensure?
Yes, they are exempt of licensure
The _____________ is responsible for licensing and regulation of the real estate profession
Department or DBPR
The Department does not have the authority to issue injunctions against unlicensed persons but may seek an injunction from the courts for failure to follow a Department order. (T/F)
True
The Commission:
The executive powers can be exercised by the chairperson acting _________ or can be delegated by quorum vote to any other Commission member.
alone
