CHAPTER 1 QUIZ
The general uses of real property include which of the following...?
All of the above
Properties with five or more dwelling units are considered...? Commercial Property Industrial Property Residential Property Special Purpose Property
Commercial Property
A contract in which a property owner employs a real estate broker to market the property described in the contract is known as the...
Listing Contract
A means of comparing similar type properties, which have recently sold, to the subject property is known as the...?
Market Comparison Approach
The employer of an agent is known as the
Principal
The market comparison approach is commonly used for this property type
Residential
If a real estate salesperson closes on a transaction, who pays the salesperson their commission...? The salesperson's sponsoring broker The Seller The Buyer Whatever is stated in the listing agreement
The salesperson's sponsoring broker
The general uses of real property include which of the following
All of the above
The general uses of real property include which of the following...? All of the above Residential Commercial Industrial
All of the above
A property manager is an example of what type of agent...?
General Agent
A real estate agent is an example of what type of agent...?
Special Agent
A real estate agent is an example of what type of agent...? Special Agent General Agent Specific Agent Universal Agent
Special Agent
The amount of goods offered for sale within a given market at a given price during a given time period is known as... Supply Demand GDP None of the above
Supply
