Aceable Agent Texas Real Estate Principles I.pdf file:///C:/Users/HP/Desktop/NIW/Aceable%20Agent%20Texas%20R
Aceable Agent Texas Real Estate
Principles I
1. Broker's Price Opinion (BPO)
ANS A broker's price opinion is the process used by a hired sales agent to determine the
potential selling price or estimated value of a real estate property
2. Closing
ANS The completion of a real estate transaction in which the buyer receives ownership and the
seller receives the contract amount
3. Comparative Market Analysis (CMA)
ANS A report comparing the prices of sold homes that are similar to the subject property
(called comparables), created by a license holder to help the seller or buyer determine the
market value
4. Seller's Market
ANS a market condition in which the number of properties for sale does not meet the
demand (number of people looking to buy)
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,Aceable Agent Texas Real Estate Principles I.pdf file:///C:/Users/HP/Desktop/NIW/Aceable%20Agent%20Texas%20R
5. Buyer's Market
ANS relatively low demand for real estate in the area (it will take 6 months or more to sell a
house)
6. Agent
ANS A person who acts on behalf of someone else
7. Seller's Disclosure Notice
ANS A document filled out by the seller concerning any defects in the improvements on the
property
8. Subagent
ANS A license holder from one office who represents the seller through cooperation with the
listing broker of another company
9. Material Fact
ANS Any fact that is significant or essential to the transaction
10. Principle
ANS the individual who authorizes another person to act on their behalf
11. Intermediary Relationships
ANS occur when the same real estate office is repre- senting both the seller and the buyer as
clients in the same transaction
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