Role of the government, REALTORS, MLS

Question 1

What is the role of the local government? (2)

Answer 1

• Property taxation
• regulatory activities including occupational licensing, building permits, and zoning

Question 2

What is the role of the state government?

Answer 2

State documentary and intangible tax

Question 3

What is the role of the federal government?

Answer 3

Fiscal and monetary policies

The federal government influences the economy through spending and interest rates.

Question 4

Membership in professional trade organizations is _____

Answer 4

Voluntary

Membership in these organizations provides various benefits to professionals.

Question 5

The benefits of being a member are _____ and _____

Answer 5

Education and networking

These benefits help professionals grow their knowledge and connections in the industry.

Question 6

What is a real estate licensee?

Answer 6

Individuals licensed by the DBPR

DBPR stands for Department of Business and Professional Regulation.

Question 7

What is a REALTOR?

Answer 7

Real estate licensee who is a member of NAR

NAR stands for National Association of Realtors.

Question 8

What is the MLS?

Answer 8

A database that allows real estate brokers representing sellers and buyers to share information about property

MLS stands for Multiple Listing Service.