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California Real Estate Practice: Unit 1* Questions And Answers With Verified Solutions 100% Correct!!! $12.99   Add to cart
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California Real Estate Practice: Unit 1* Questions And Answers With Verified Solutions 100% Correct!!!
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  • California Real Estate
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  • California Real Estate

California Real Estate Practice: Unit 1* Questions And Answers With Verified Solutions 100% Correct!!!

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  • October 9, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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Written for

  • California Real Estate
  • California Real Estate

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California Real Estate Practice: Unit 1*
Questions And Answers With Verified
Solutions 100% Correct!!!
mentor - ANSWER✔✔A person who guides a trainee through the first few months
or transactions as a salesperson

property management - ANSWER✔✔The operation and maintenance of rental
properties

appraiser - ANSWER✔✔A person who estimates property value

prospecting - ANSWER✔✔The act of seeking out potential clients

listing agreement - ANSWER✔✔A contract between the property owner and the
broker to place properties for sale with the brokerage

offer to purchase - ANSWER✔✔The proposal made by a potential buyer to an
owner of property to purchase the property under stated terms.

counteroffer - ANSWER✔✔The rejection of an original purchase and the
submission of a new and different offer

Multiple Listing Service (MLS) - ANSWER✔✔A cooperative listing service
conducted by a group of brokers, usually members of a real estate associationl

independent contractor - ANSWER✔✔A person who chooses the method to use in
completing the work under contract, and is accountable for the results

commission - ANSWER✔✔The main source of earnings for real estate salespeople
and brokers based on a certain percentage of the property's sales price

transaction sides - ANSWER✔✔Buyer and seller sides to a transaction

Real Estate Professional Assistant( R E PA) - ANSWER✔✔A comprehensive two-
day certificate course that introduces the real estate business and the specific ways
support staff can become valuable assets to their employers

, broker-owner - ANSWER✔✔A broker who creates a firm and sets all the policies
of the firm

franchise - ANSWER✔✔A national real estate company that generally offers the
greatest opportunity for training

third party - ANSWER✔✔The customer in an agency relationship

listing coordinator - ANSWER✔✔A brokerage worker who manages all required
paperwork for listings

escrow coordinator - ANSWER✔✔A brokerage worker who guides the transaction
through to closing and manages all earnest money deposits, inspections,
disclosures, financing, title, and escrow issues

prospecting coordinator - ANSWER✔✔A brokerage worker who seeks new
business to generate leads and set up appointments for the lead listing salesperson

advertising coordinator - ANSWER✔✔A brokerage worker who makes sure every
listing gets its share of ad time as well as making up flyers and brochures for team
listings

transaction coordinator - ANSWER✔✔Brokerage worker to whom salespeople
give the paperwork for a transaction just after a buyer and seller sign the offer to
purchase

high earning potential, independence, flexible schedule - ANSWER✔✔Why do
people go into real estate sales?

one of their transactions closes. - ANSWER✔✔Real estate salespeople are paid
when:

commissions - ANSWER✔✔The main source of earnings for real estate
salespeople and brokers are:

The broker and the seller - ANSWER✔✔Who determines the amount of
commission a broker receives?

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