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Principles Of Real Estate II :- Questions And Answers
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Principles Of Real Estate II :- Questions And Answers
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Principles Of Real Estate II :- Questions And AnswersIn the real estate business, which professional's primary role is to make
improvements to land? Right Ans - Real estate developer
Hotels, motels, golf courses, resorts, and sporting arenas belong to which of
these property categories? Right Ans - leisure
In the real estate business, which professional's primary role is to estimate
property value based on established valuation guidelines? Right Ans - Real
Estate Appraiser
Shopping centers and malls belong to which of these property categories?
Right Ans - Retail
Of the six categories of real estate, what types of properties are hospitals,
urgent care centers, and doctor's offices? Right Ans - Healthcare
In the real estate business, which professional's primary role is to protect
brokerages from litigation and to answer questions for licensees about legal
matters regarding real estate transactions? Right Ans - Real Estate attorney
Single-family, multi-family (duplex, triplex, etc.), apartment buildings,
condominiums, and cooperatives are part of what property category? Right
Ans - Residential
Because these types of properties have both specific physical and complex
operational requirements, they are usually handled by more experienced real
estate professionals. Right Ans - Industrial
Consider the travel, tourism, and hospitality industry for a moment. Visiting
the best beaches? No problem. Now consider acting as a real estate licensee
specializing in resort and vacation properties. It's a whole different beach
volleyball game, right? What type of information should licensees know and
understand before they can competently represent clients in this specialty
area? Right Ans - The regulations for timeshare properties and vacation
rentals
, Timeshare properties are also referred to as _________________. Right Ans -
Resort Properties
What's required in order to call an auction? Right Ans - an auctioneer's
license
Luciana is very successful in her profession, partially because she was
fortunate enough to connect with several developers in the early days of her
career. Since then, she's built a solid reputation as the "go to" person in the
state to list properties on the MLS and show model homes in newly developed
communities. What's Luciana's profession? Right Ans - Shes a real estate
licensee
Bryant is a professional who spends his days drafting plans for new
communities. He must consider what these newly developed areas of town
will require, including streets and open areas like parks. In what profession
does Bryant specialize? Right Ans - He's a planner
Where do live auctions typically take place? Right Ans - On the steps of the
local courthouse
Sam has a degree and experience in agricultural studies. In which of the
following real estate areas would Sam's education and experience be the most
helpful? Right Ans - Farm and ranch properties
Richard just purchased 200 acres of timber land. He initially wanted his
nephew, licensee Randy, to help with the purchase, but Randy suggested
Richard find a broker who specialized in farm, ranch, and other land sales.
What benefits timberland offer? Right Ans - Land with trees
Petroleum landmen specialize in the negotiation of contracts covering what
aspect of land ownership? Right Ans - Oil and mineral rights
Which of the following are all examples of private land use control? Right
Ans - Easement, lien, deed restriction
Shemar owns a starter home a few miles outside the city center, and he wants
to deed it to his grandson, Tyler. According to the paperwork Shemar had
drawn up, Tyler will own the property as long as he continues to pay the
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