Aceable Agent Texas Real Estate Principles I Exam Questions & Answers 100% Correct(RATED A+)
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Course
Aceable Agent Texas Real Estate Principles I
Institution
Aceable Agent Texas Real Estate Principles I
Comparative Market Analysis (CMA) -ANSWER - 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
Seller's Market -ANSWER - a market condition in which the numb...
Aceable Agent Texas Real Estate Principles I Exam Questions & Answers 100% Correct(RATED A+)
Broker's Price Opinion (BPO) -ANSWER - 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
Closing -ANSWER - The completion of a real estate transaction in which the buyer receives ownership and the seller receives the contract amount
Comparative Market Analysis (CMA) -ANSWER - 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
Seller's Market -ANSWER - a market condition in which the number of properties for sale does not meet the demand (number of people looking to buy)
Buyer's Market -ANSWER - relatively low demand for real estate in the area (it will take 6 months or more to sell a house)
Agent -ANSWER - A person who acts on behalf of someone else
Seller's Disclosure Notice -ANSWER - A document filled out by the seller concerning any defects in the improvements on the property
Subagent -ANSWER - A license holder from one office who represents the seller through cooperation with the listing broker of another company
Material Fact -ANSWER - Any fact that is significant or essential to the transaction
Principle -ANSWER - the individual who authorizes another person to act on their behalf
Intermediary Relationships -ANSWER - occur when the same real estate office is representing both the seller and the buyer as clients in the same transaction
Third Party -ANSWER - the individual with whom the agent and principal enter into real estate negotiations. The third party is also sometimes referred to as the customer
Agency Relationship Disclosure -ANSWER - Agency relationships should be disclosed at first contact
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