Unit 1 real estate

Sales Agent

• Member of NAR

• Controls licensing of persons permitted to practice real estate brokerage in Texas

• Body of law based on custom, usage, and court decisions

• Performs real estate activities, while employed by or associated with a real estate broker.

Common Law

• Body of Law based on custom, usage and court decisions

• Member of NAR

• Performs real estate activities, while employed by or associated with a real estate broker

• Controls the licensing of persons permitted to practice real estate brokerage in Texas

Texas Real Estate Licensing Act

• Controls the licensing act of persons permitted to practice real estate brokerage in texas

• member of NAR

• body of law based on custom, usage and court decisions

• performs real estate activities, while employed by or associated with a real estate broker

Realtor

• Member of NAR

• controls the licensing of persons permitted to practice real estate brokerage in texas

• body of law based on custom, usage and court decisions

• performs real estate activities, while employed by or associated with a a real estate broker

Realtist

• Member of the national association of real estate brokers

• Affects the ownership and transfer of real estate

• performs real estate activities, while employed by or associated with a real estate broker

• controls the licensing of persons permitted to practice real estate brokerage in texas

Seven sources of law

• Affects ownership and transfer of real estate

• Body of law based on custom, usage and court decisions

• controls the licensing of persons permitted to practice real estate brokerage in Texas

• Member of the national association of real estate brokers

Supply

• Amount of goods offered for a sale within the market at a given price during a given time period

• Elimination or reduction of real estate taxes to attract investment to an area

• Capital outlay necessary to bring a property into existence

• Actual value measured in dollars of an aspect of construction or location

• Amount of goods offered for sale within the market at a given price during a given time period

Abatement

• Elimination or reduction of real estate taxes to attract investment to an area

• Capital outlay necessary to bring a property into existance

• actual value measured in dollars of an aspect of construction or location

• amount of goods offered for sale within the market at a given price during a given time period

Cost

• Capital outlay necessary to bring a property into existence

• Actual value measured in dollars of an aspect of construction or location

• Amount of money paid for a property

• Amount of goods offered for sale within the market at a given price during a given time period

objective value

• actual value measured in dollars of an aspect of construction or loction

• Amount of money paid for a property

• Amount of goods offered for sale within the market at a given price during a given time period

• Capital outlay necessary to bring a property into existence