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Colibri Chapter 1, 2, 3 /60 Questions And Answers
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Colibri Chapter 1, 2, 3 /60 Questions And Answers
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Colibri Chapter 1, 2, 3 /60 Questions And AnswersQuiz :The Knowledge of Property Transfer - - Answer :by deed, will, inheritance or
the use of contracts, or trusts.
Quiz :Knowledge of Market Conditions - - Answer :the level of listings on the
market, how the property may be financed, how quickly property sells and the
value of a property
Quiz :Knowledge of How to Market Real Estate - - Answer :techniques that
include proper pricing, disclosure to both the buyer and the seller, service to the
buyers and sellers, and maintaining relationships with other real estate
professionals.
Quiz :real estate brokerage business brings interested parties together to ... -
Answer :sell, lease, rent or exchange real property.
Quiz :Real estate professionals often specialize in one particular geographic area
or property type. In real estate world, this is known as . - Answer :Farming
Quiz :Licensee may choose - Answer :Sales
Leasing
Management
Counseling
Quiz :There are Six Major Real Estate Property Types: - Answer :Residential
property - a family home that is 4 units or less, or vacant land that has been zoned
for 4 units or less.
Commercial property - income producing property - retail center or an apartment
(4+ units)
Industrial property - usually manufactures or distributes products
Agricultural property - a farm or ranch land 10+ acres.
Business opportunity - an investor purchasing an income producing business.
, Special Purpose property - schools, churches, nursing homes, post offices and
hospitals.
Quiz :property manager is defined as - Answer :the professional who preserves
the value of an investment (by an owner) while generating income as an agent for
the owner and acts as a fiduciary to the owner.
Quiz :Fiduciary is a person ... - Answer :that has a duty to act primarily for
another's benefit,
Quiz :four types of maintenance a property manager may be tasked to perform: -
Answer :Preventative Maintenance,
Routine Maintenance,
Repair Maintenance, and Construction Maintenance.
Quiz :3 Methods to determine value - Answer :Appraisal - conducted by
appriasers
Broker Price Opinion - local expert opinion
Comparative Market Analysis -
Quiz :3 Types of residential contruction - Answer :Spec homes - inventory
Tract homes - built to certain guidelines
custom homes - built for a specific buyer
Quiz :There are a variety of professional organizations which also support and
endorse the real estate business. The largest is the - Answer :National Association
of REALTORS®, whose Code of Ethics and certification/designations are influential
in their goals to protect private property rights, promote home ownership, and
lobby to maintain reasonable credit and other standards at the federal level for
shelter for everyone.
Quiz :Which is NOT commonly an area of federal government interference in real
property? - Answer :zoning laws
Quiz :Local communities regulate real estate by - Answer :creating zoning laws.
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