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RECA Residential Unit 3-Residential Measurement Requirements test with complete solutions.
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RECA Residential Unit 3-Residential Measurement Requirements test with complete solutions.
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RECA Residential Unit 3-Residential Measurement Requirementstest with complete solutions
What is the RMS?
Residential Measurement Standard
4 qualities of a standard
1. It must be objective (ie Uniform, consistent) 2. It mut apply to an
object or process that can be quantified (i.e. measured) 3. It's
results must be verifiable (i.e. repeated by others) 4. It's results
must be quantifiable (i.e. measurable)
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What is a measurement standard as it relates to property use?
is an objective and consistent method to determine the area of a
property and the results are verifiable. It is based on the application
of transparent, uniform principles and protocols.
What are FSBOs?
For Sale By Owner
Does the RMS apply to builders and FSBOs?
Yes
, When was the current Residential Measurement Standard
developed?
April 2016. Effective May 18th, 2016, the RMS became the province-
wide requirement for all REPs when measuring and communicating
the size of residential properties
Is the RMS a principles-based standard?
Yes. Principle-based means the standard has key underlying
concepts that are required to be applied in practice.
4 Benefits of the RMS
1. A province-wide property measurement standard for all real
estate professionals 2. Applies to all real estate brokerages
regardless of their service package, including mere postings 3.
Clarity and consistency of property measurement 4. Provides data
reliability for property comparison
what does CMA mean?
comparative market analysis
Is it possible for portable dwellings to be considered Residential
real estate? If so, what is the criteria (x4)
Yes, Residential real estate may include a portable dwelling (mobile
Home) designed for use as a residence. The portable dwelling: 1.
must be mounted on or attached to its own chassis and running
gear 2. May be transported on its own chassis and running gear 3.
Must be situated on a site that is used or intended to be used for
residential purposes 4. is represented by the site owner for
residential use
RMS applies to (x 6)
1. Residential property 2. Rural residential property 3. Residential
property for rent or lease 4. Individual premise to be used as a
dwelling even if the dwelling was sold and purchased as a bundle
for business purpose (ie an apartment building) 5. Property
measurement service hired to measure a residential property 6.
Residential properties to be built
RMS does not apply to (x3)
Non-residential properties, such as commercial, industrial or retail
premises. 2. Private real estate transactions between individual
sellers and buyers with no real estate professional involved (ie for
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