Florida Real estate exam chapter 1 Questions and Answers 100% Correct
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Course
Florida Real estate
Institution
Florida Real Estate
Farm area - ️️Brokers and sales associates prefer to select and become an expert
on a particular portion of a city or even a demographic area.
Appraisers fees - ️️Based on time and difficulty of work. Not commission based due
to conflict of interest.
Follow up - ️️Best way to ensure...
Florida Real estate exam chapter 1
Farm area - ✔️✔️Brokers and sales associates prefer to select and become an expert
on a particular portion of a city or even a demographic area.
Appraisers fees - ✔️✔️Based on time and difficulty of work. Not commission based due
to conflict of interest.
Follow up - ✔️✔️Best way to ensure buyers and sellers
Sales associates do this AFTER the sale
RE sales associates specialize in any of 5 major specialties - ✔️✔️Residential
Commercial
Industrial
Agricultural
Businesses
Residential RE - ✔️✔️Four or fewer residential units, vacant land zoned for four or
fewer residential units, or agricultural property of 10 or fewer acres
Sales and leasing - ✔️✔️RE sales is the lifeblood of the brokering business
Absentee owner - ✔️✔️Property owner who does not reside on the property and relays
on property management to manage the investment
Appraisal - ✔️✔️Process of estimating the real value of property. It's a professional
appraisers opinion concluding with an estimate of the property's worth. An art, not a
science.
RE licensee provide specialized service in 5 areas - ✔️✔️Details of property transfer
Knowledge of market conditions
Knowledge of how to market RE or businesses
Knowledge of how to analyze buyers needs
Knowledge of laws that pertain to RE
Florida RE Appraisal Board (FREAB) - ✔️✔️Regulates state certified, licensed, and
registered trainee appraisers. A state certified or licensed appraiser must prepare an
appraisal that involves a federally related transaction.
CMA - ✔️✔️Comparative Market Analysis prepared by RE licensees to help potential
sellers Determine an asking price.
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