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Real Estate - Ch. 1 Intro to the Real Estate Business - Concepts Flashcards | StudBud
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Real Estate - Ch. 1 Intro to the Real Estate Business - Concepts
Real Estate - Ch. 1 Intro to the Real Estate Business - Concepts
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1
What is the term for detailed info about the age, education, behavior, and characteristics of a population group?
Population
Households
Family lifestyles
Demographics
2
What is a real estate professional called when inspecting a property and preparing a report for a buyer or owner?
a property manager
a home inspector
an appraiser
an educator
3
What is a broker called when managing a client’s property and maximizing return on their investment?
investment counselor
a building maintenance specialist
a property manager
a rental agent
4
A licensed real estate professional acting as a contact between parties to negotiate a property deal, is called _______.
a broker
a property manager
an appraiser
a sales affiliate
5
All of the following would affect demand EXCEPT
Wage levels
Fiscal policy
Population
Demographics
6
All of the following are categories of the uses of real property EXCEPT
Agricultural
Residential
Developmental
Industrial
7
When the supply of a commodity decreases while demand remains the same, ____________.
price tends to drop
demand tends to rise
price tends to rise
demand tends to drop
8
All of the following affect how quickly the forces of supply and demand work EXCEPT
Degree of standardization of the product’s price
Mobility of the parties to the transaction
Degree of standardization of the product
Mobility of the product
9
All of the following would affect supply EXCEPT
Government controls
Population
Construction costs
The labor force
10
When demand for a commodity decreases and supply remains the same, ________________________.
price is not affected
price tends to rise
the market becomes stagnant
price tends to fall