100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
RECA FUNDAMENTALS EXAM ALBERTA | COMPLETE SOLUTION | 100% ACCURATE PASS. $11.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. RECA
  4.  
  5. RECA

Exam (elaborations)

RECA FUNDAMENTALS EXAM ALBERTA | COMPLETE SOLUTION | 100% ACCURATE PASS.
 0 purchase
  • Course
  • RECA
  • Institution
  • RECA

RECA FUNDAMENTALS EXAM ALBERTA | COMPLETE SOLUTION | 100% ACCURATE PASS. Real Estate - refers to the land and fixed improvements to the land Classes of licence - associate, associate broker, broker and brokerage four areas of practice - residential, commercial, property management a...

[Show more]

Preview 2 out of 6  pages

Document information

  • September 19, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • reca fundamentals exam alberta complete solution

Written for

  • RECA
  • RECA

Seller

avatar-seller
Mboffin

Reviews received

Content preview

RECA FUNDAMENTALS EXAM ALBERTA |
COMPLETE SOLUTION | 100% ACCURATE
PASS.

Real Estate - refers to the land and fixed improvements to the land

Classes of licence - associate, associate broker, broker and brokerage

four areas of practice - residential, commercial, property management and mortgage

Industrial property - include warehouses and custom-built manufacturing plants.

Residential income property - include low-rise and high-rise apartments, duplexes,
fourplexes and townhouses

supply and demand - characteristic that identifies the slow response of these 2 market
forces affecting real estate

scarce - characteristic that identifies real estate as a limited resource

durable - characteristic that identifies real estate as indestructible

fixed - characteristic that identifies real estate as immobile

unique - characteristic that identifies parcel of land as being different from one another

private - characteristic that identifies how real estate transactions are conducted
between a buyer and seller

standardized - characteristic that identifies the inability to market properties for all areas
of real estate in a universal approach

local - characteristic that identifies real estate transactions as occurring in a defined
area

balanced market - -property prices generally stable
-supply of available properties and the number of buyers desiring to purchase properties
are somewhat equal
-properties sold within a reasonable time frame
affordable interest rates for financing

, sellers market - -local booming economy
-increasing property prices
-properties sell quickly
-market demand for properties in an area is greater than the available supply

buyers market - -properties remain on the market for a longer period of time
-properties remain on the market for a longer period of time
-declining property prices
-inventory of properties exceeds the number of buyers

1990-1999 - period during which the following events occured:

real estate industry self-regulation achieved and Real Estate Act established. RECA
approves pre-licensing and re-licensing education programs. RECA establishes
disciplinary processes for conduct of industry professionals

1928-1943 - period during which the following events occured:
Real Estate Agents Licensing Act replaces Real Estate Commission Act, Alberta Real
Estate Association is created

2010-present - period during which the following events occured:

RECA launches social media options to communicate with industry professionals.
RECA reviews validity of electronic signatures and contracts for real estate.
RECA implements 5 year plan and approves statement on self-regulation

2000-2009 - period during which the following events occured:
RECA implements measures to prevent and deal with mortgage fraud and amends its
mandate
RECA assumes jurisdiction over real estate appraisal
RECA develops and delivers pre-licensing and re-licensing courses online

1905-1927 - period during which the following events occured:
RECA, 1st legislation governing real estate is passed

1970-1979 - period during which the following events occured:
Alberta Consumer and Corporate Affairs prepares four objectives for real estate
industry, starting its transition from government regulation to self-regulation

1980-1989 - period during which the following events occured:
Real Estate Assurance Fund established for real estate and mortgage brokerage.
Alberta Real Estate Licensing Committee created to handle licensing and registration of
industry professionals, education standards, and examination

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Mboffin. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69052 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$11.99
  • (0)
Add to cart
Added