Hondros Learning | Ohio Real Estate | Principles & Practices Questions And Answers Graded A+
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Course
Hondros Learning | Ohio Real Estate | Principles
Institution
Hondros Learning | Ohio Real Estate | Principles
Assignment - 1. When a person transfers his interests under a contract to another. 2. When a
tenant transfers his right of possession, or other interest, in leased property to another person for the
remainder of the lease term.
Broker - Any person, partnership, association who, for a fee, sells,...
Hondros Learning | Ohio Real Estate |
Principles & Practices
Assignment - 1. When a person transfers his interests under a contract to another. 2. When a
tenant transfers his right of possession, or other interest, in leased property to another person for the
remainder of the lease term.
Broker - Any person, partnership, association who, for a fee, sells, lists, leases, exchanges,
negotiates, or otherwise deals in the real estate of others, or represents publicly that he does.
Independent Contractor - A self-employed salesperson paid on jobs completed rather than hours
worked and responsible for setting their own hours and paying their own taxes.
Real Estate Licensee - A person licensed to practice real estate.
Realtist - Any real estate licensee who is a member of the National Association of REALTORS.
(NAR)
Salesperson - A licensed agent who is associated with a broker and may perform most of the acts
of a broker on behalf of the broker.
REALTOR - Any real estate licensee who is a member of the National Association of REALTORS
(NAR) and his affiliated state and local boards.
Fiduciary Duties - "OLD CAR": Obedience, Loyalty, Disclosure, Confidentiality, Accountability, and
Reasonable Care. This mnemonic device has a slight variation (e.g. care vs. reasonable care), but both
are helpful in recalling the fiduciary duties an agent owes his clients and broker.
Americans with Disabilities Act (ADA) - Passed by Congress in 1991, this act banned discrimination
against the disabled in employment and mandated easy access to all public and commercial buildings.
, Accredited Residential Manager - Those specializing in managing residential properties who
complete an Institute of Real Estate Management (IREM) course, meet experience standards, manage a
sizable portfolio, and are endorsed by the local IREM chapter.
Certified Property Manager - Awarded by the IREM to those who meet certain requirements.
Real Property Administrator - Awarded to those completing training courses offered by the
Building Owners and Managers International, which is an independent institute affiliated with the
Building Owners and Managers Association.
Property Management Specialist - Awarded to those completing training courses designed to
prepare licenses for entry into property management.
Property Management - Management of another's property for compensation
Commercial Properties - Include offices, stores, hotels, and other buildings.
Industrial Real Estate - Land and structures involved in the production, distribution, and storage of
tangible economic goods.
Women's Council of REALTORS (WCR) - An organization devoted to addressing the issues, needs,
and concerns of women in the real estate profession. Now affiliated with NAR.
Auctioneer - A person with an auctioneer's license as well as a real estate license who can sell real
estate through an auction.
Education and Research Fund - A fund designed to offer scholarships and loans to students who
are taking real estate-specific classes.
Foreign Real Estate Broker - Any broker/ sales person licensed to engage exclusively in reak estate
for land situated outside the state of Ohio
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