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Real Estate Marketing Commercial Real Estate (SAE) questions with answers.
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Real Estate Marketing Commercial Real Estate (SAE) questions with answers.
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Real Estate Marketing Commercial RealEstate (SAE) questions with answers.
General Lien (also Statatory) ANS -attaches to all the property of the debtor, not exempt from forced
sale (Example: a judgment or IRS lien)
Diplomacy ANS -the ability to handle clients and situations in a sensitive and effective way - is critical in
commercial real estate, and a lack of it can expose you immediately as a beginner.
DTPA ANS -The Deceptive Trade Practices Act (DTPA) is a Texas law that was passed in 1973. It allows an
aggrieved consumer to sue a seller of goods for damages. The act by the seller of the goods has to be
deceptive or unfair for the consumer to successfully sue for monetary damages.
CCIM ANS -The CCIM Institute was established in 1954 to give commercial real estate practitioners an
opportunity to further their business practices through education and networking opportunities. The
institute administers the Certified Commercial Investment Member (CCIM) designation. "Gold Standard"
ICSC ANS -International Council of Shopping Centers - The purpose of The International Council of
Shopping Centers (ICSC) is to advance the shopping center industry and to promote its role in the
commercial distribution of consumer goods and services.
comprehensive database ANS -This will be one of the greatest assets of your business. Pick a
geographical region to farm, and assemble a database of properties and property owners.
Canons of Professional Ethics and Conduct ANS -FIDELITY
INTEGRITY
COMPETENCY
CONSUMER INFORMATION
DISCRIMINATORY PRACTICES
, caveat emptor ANS -are two Latin words that most people have heard at some point - "let the buyer
beware." All real estate transactions in Texas are done "as is."
IREM ANS -Institute of Real Estate Management
is an international community of real estate managers dedicated to ethical business practices,
maximizing the value of investment real estate, and promoting superior management through education
and information sharing. IREM membership includes more than 18,000 individuals and 550 corporate
members.
BOMA ANS -Building Owners and Managers Association is a federation of 93 BOMA U.S. associations,
BOMA Canada, and 13 BOMA international affiliates. BOMA International's members are building
owners, managers, developers, leasing professionals, corporate facility managers, asset managers, and
the providers of the products and services needed to operate commercial properties.
Intermediary brokerage ANS -All commercial brokers practice intermediary because it is in their best
interests to do so. As the intermediary, the broker can sell one of his own listings to a buyer. This is the
reason that many properties are never listed on the market as "for sale." It is more beneficial to keep
the commission in-house, so others are not vying for a part of the commission.
fair housing ANS -laws exist at the federal, state and local levels to ensure that all citizens have unob-
structed access to housing. Residential agents must always adhere to all fair housing laws and cannot
discriminate or refuse to sell or rent property based upon a buyer's race, color, national origin, religion,
sex, familial status or handicap.
SIOR ANS -Society of Industrial and Office Realtors is a professional organization begun in 1939, with
over 3,000 members worldwide that offers the SIOR Designation, a symbol of knowledge, production,
and ethics in the real estate industry.
NARPM ANS -Most single-family homes used as rentals are managed by the owner/ landlord. However,
a growing portfolio of homes, homes scattered over a large area, and other factors may make
professional management desirable. The National Association of Residen- tial Property Managers is an
organization of managers of single-family and small multifamily properties. For more information, visit
http://www.narpm.org.
Commercial real estate is often defined as any real estate that is _____________. ANS -Not residential
in nature
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