Real Estate Specialization

Downcycle

A period of stagnation

Real Estate Counselor:

Assists clients in making informed real estate decisions

Depression definition

At the bottom

Special Purpose

Churches , Cemetries and School

Developer

Constructs improvements on land - Construct the apt. complex

What not to do Downcycle

Dont buy expensive advertising, lead advertising service /listing

Downcycle Stragedies

Dont panic, stick to your plan, ride the cycle out

Title & Abstract Company

Ensures good title to the buyer in a real estate transaction

Appraiser: Property Manager: Operates properties for others Petroleum Landsman/ Landswoman: Negotiates for and acquires subsurface mineral rights for oil and gas exploration

Estimates property values based on established valuation guidelines

Definition Expansion

Grwoth

What is NAR

Licensees become NAR members when they join their state or local chapters.

Urban Planner

Makes recommendations to local governments for improvements e.g street imporvement

Al is a new licensee who lives in an agricultural community and wants to specialize in the sale of farm and ranch properties. Is he required to have additional education or experience to specialize in this area?

NO Specialization doesn't require additional education or experience. However, you may be required to maintain competency in a particular area.

Nancy is a new licensee who is interested in joining a professional organization and would like to identify herself as a "REALTOR®" in her advertising. What professional organization is the best choice for her?

National Association Of Realtor NAR

Who can call themselves a RELATORS

Only members of the National Association of REALTORS® may call themselves a REALTOR®.

Petroleum Landsman/Landswoman

Petroleum Landsman/ Landswoman: Negotiates for and acquires subsurface mineral rights for oil and gas exploration

Lender or Investor:

Provides funds for development and purchase of the real estate - Provide capital to finance the project

Home Inspector:

Provides visual inspection of a property's structure, systems, and site conditions and provides report to the buyer

Agricultural

Ranch, farm,timberland, Orchards

In the real estate business, which professional's primary role is to provide clients with the information they need to make informed decisions about their own specific real estate interests?

Real Estate Counsler- They use their real estate experience and interest in data-driven facts to provide their clients with in-depth studies, reports, and evaluations having to do with the client's specific property.

Revival Definition

Recovered

Residential

Single multi family home

Recession Definition

Slow down

Mixed use

Store with an upstairs apartment, Any combination of 5 categories -Manufacturing and large office building

Real Estate is cyclical market?

True - seasonal goes up and down

Marissa, a new licensee, has some questions. Which of the following questions can the association of REALTORS® in her state help her answer?

Where can I go to find some marketing data on my area so I can advertise more effectively? She can visit her state's association of REALTORS® website for marketing data and for other helpful information.

Where does buisness comes from ?

Your sphere (ppl you knew) your farm area (where you do your buisness, neighbourhood) Referral

Adveritsing/marketers prey on agents fear to take their commision by>?

providing advertising service, lead, technician sales people

Plan For Downcycle

set money a side to tide you over Have projects ready to work