Real Estate 306 Exam Questions & Answers Already Graded A+
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Course
Real Estate 306
Institution
Real Estate 306
Developer Fee - What the developer gets paid for time and resources spent on project (based on a
% of total costs)
Appraiser must know.... - a. Supply & demand characteristics of marketplace
b. Demand for property type
c. Rules and regulations that impact property type
d. Specific characterist...
Real Estate 306
Developer Fee - What the developer gets paid for time and resources spent on project (based on a
% of total costs)
Appraiser must know.... - a. Supply & demand characteristics of marketplace
b. Demand for property type
c. Rules and regulations that impact property type
d. Specific characteristics of property
(True/False) Lease forms may look very different from one another. - True
2 Types of Broker Licenses - 1. Licensee/salesperson (beginner level)
2. Broker
2 Types of Brokers - 1. Sale/purchase broker
2. Leasing broker
3 Approahces to Appraisal - 1. Sales comparison
2. Cost approach
3. Income approach
3 Techniques for Market Research - i. Excluding the Irrelevant
1. Compile public data that already exists
2. Get rid of what isn't relevant
ii. Find Proxy Tables
1. Find a corollary -> occupancy of all
apartments may be used to try to find the
, occupancy of 4 bedroom apartments
iii. Using an Analogy (Parallel)
1. Find something similar to what already
exists
3 Types of Maintenance - Preventative, routine, and corrective
4 Ways to Determine Available Sites - 1. Look at real estate websites
2. Hire a broker - must pay them
3. Conduct an independent site search
4. Solicit potential sites
Alterations & Improvements - LL hate alterations
Architect - Design the appearance of the building
Assignment - Contract must provide for assignment, otherwise seller's authorization is required to
assign
Assignment/Sub-Leasing - Sub-Lease: LL>T-ST
Assignment: LL>T0>T1
T wants more flexibility, LL wants less
Brokers have 3 types of special knowledge - i. Know the market/know pricing
1. Housing stock available
2. Buyers are in marketplace
ii. Marketing approaches
iii. Procedures & requirements of the transaction
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