Fla RE Units 1 & 2

Real estate brokers provide specialized service for others in return for compensation in the form of all of the below choices EXCEPT

• commission

• tax write-off

• fee

• valuable considerations

Real estate professionals provide expert knowledge of property transfer, market conditions, and how to market real estate and businesses.

• property transfer

• market conditions

• how to market real estate and business

• All of thee above

Sales specialties cover 5 areas: (1) residential, (2) commercial, (3) industrial, (4) agricultural, and (5)

• mobile homes

• estates

• business

• trailers

_________________ refers to a selected and limited geographic area to which a sales associate devotes special attention and study.

• Beach area

• Rural area

• Urban area

• Farm area

Property management is a professional service conducted by a person or company hired to maintain and manage property on behalf of property owners

• True

• False

Absentee owners are property owners who do not reside on the property and who often rely on a professional property manager to manage the investment

• True

• False

Federal and state laws DO NOT require appraisals that involve a federally related transaction to be prepared by a state-certified or licensed appraiser

• True

• False

When preparing appraisals, Florida law requires appraisers and real estate licensees to abide by the

• Uniform Standards of Professional Appraisal Practice (USPAP)

• Uniform Standards of Professional Practice Appraisal (USPPA)

• Professional Standards of Uniform Appraisal Practice (PSUAP)

• Professional Standards of Appraisal Uniform Practice (PSAUP)

The USPAP is a set of guidelines (standards of practice) to follow when conducting appraisal services. Real estate licensees may not represent themselves as state-certified, registered, or licensed appraisers unless they

• were asked by appraiser to assistance

• was advised by associate broker

• were licensed

• was told to do so by broker

A ___________________ is a marketing tool that is prepared for a potential buyer or seller based on recent sales of similar properties, properties currently on the market, and recent expired listings.

• Community Association Manager

• Appraisal

• Comparative Market Tool

• Broker Price Opinion