Florida Real Estate Exam Flashcards

20 cards

Flash Cards For The FL Real Estate Exam. Principles, Practices & Law.


 
  
Created Jul 16, 2009
by
anm04h

 

 
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1
What is Residential sales specialty?


    
 
Is defined as residential real estate as four or fewer residential units, vacant land zoned...
2
What is Farm area?
 
One specific portion of a city that brokers and sales associates become an expert on. It involves...
3
What is Commercial sales specialty?
 
Income producing property. Examples: Improved residential property of more than four units,...
4
What is Industrial sales specialty?
 
Deals in three different type of properties: (1) sites in industrial parks or subdivisions;...
5
What is Agricultural sales specialty?


    
 
Agricultural property of more than ten acres.
6
What is Business sales specialty?


    
 
Licensees who engage in the sale, purchase, or lease of businesses are referred to as business...
7
What is follow-up?


    
 
Follow-up is what a sales associate does for buyer and sellers after the sale. It is important...
8
What is property management?


    
 
This is devoted to the leasing, managing, marketing, and overall maintenance of property for...
9
What is an absentee owner?


    
 
It is a property owner who does not reside on the property and who often relies on a professional...
10
What is Appraisal?


    
 
It is the process of estimating the value of real property.It is considered to be an art, not...
11
What does Florida law require appraisers and real estate brokers, and sales associates ...
 
the Uniform Standars of Professional Appraisal Practice (USPAP)
12
What is a comparative market analysis (CMA)?


    
 
It is what real estate licensees do by helping potential sellers determine an asking price.
13
What are the three general phases of development and construction?
 
Land acquisition

Subdividing and development

Construction
14
What is a dedication?


    
 
It is the gift of land by an owner. In the case of development and construction, the developer...
15
What is a subdivision plat map?


    
 
It is an engineer's plan for land use superimposed on a map of the land to e developed.
16
What is a restrictive covenant?
 
They affect how the land can be used and establish criteria such as minimum square footage,...
17
What are the three general categories of residential construction?
 
Speculative Homes

Custom Homes

Tract Homes
18
What are Speculative Homes, in regards to residential construction?
 
Building "on speculation" involves purchasing one or ore lots and construction a homeor homes...
19
What is Custom Homes, in regard to residential construction?
 
A custom builder constructs homes under contract with a buyer, often using building plans provided...
20
What is Tract Homes, in regard to residential construction?
 
They are a type of speculative building. A new subdivision will typically feature several model...

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