Colibri Chapter 1, 2, 3 Study Questions with Complete Solutions The Knowledge of Property Transfer - - Correct Answer by deed, will, inheritance or the use of contracts, or trusts.Knowledge of Market Conditions - - Correct Answer the level of listings on the market, how the property may be financed, how quickly property sells and the value of a property Knowledge of How to Market Real Estate - - Correct Answer techniques that include proper pricing, disclosure to both the buyer and the seller, service to the buyers and sellers, and maintaining relationships with other real estate professionals.real estate brokerage business brings interested parties together to ... - Correct Answer sell, lease, rent or exchange real property.Real estate professionals often specialize in one particular geographic area or property type. In real estate world, this is known as . - Correct Answer Farming Licensee may choose - Correct Answer Sales Leasing Management Counseling There are Six Major Real Estate Property Types: - Correct Answer Residential property - a family home that is 4 units or less, or vacant land that has been zoned for 4 units or less.Commercial property - income producing property - retail center or an apartment (4+ units) Industrial property - usually manufactures or distributes products Agricultural property - a farm or ranch land 10+ acres. 1 / 2
Business opportunity - an investor purchasing an income producing business.Special Purpose property - schools, churches, nursing homes, post offices and hospitals.property manager is defined as - Correct Answer the professional who preserves the value of an investment (by an owner) while generating income as an agent for the owner and acts as a fiduciary to the owner.Fiduciary is a person ... - Correct Answer that has a duty to act primarily for another's benefit, four types of maintenance a property manager may be tasked to perform: - Correct Answer Preventative Maintenance, Routine Maintenance, Repair Maintenance, and Construction Maintenance.
- Methods to determine value - Correct Answer Appraisal - conducted by appriasers
- Types of residential contruction - Correct Answer Spec homes - inventory
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Broker Price Opinion - local expert opinion Comparative Market Analysis -
Tract homes - built to certain guidelines custom homes - built for a specific buyer There are a variety of professional organizations which also support and endorse the real estate business. The largest is the - Correct Answer National Association of REALTORS®, whose Code of Ethics and certification/designations are influential in their goals to protect private property rights, promote home ownership, and lobby to maintain reasonable credit and other standards at the federal level for shelter for everyone.Which is NOT commonly an area of federal government interference in real property? - Correct Answer zoning laws