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Section 1
The Real Estate Business
Preview
Preview: The Real Estate Business
Preview includes- 2 of 2 lesson topics
- 1 overview segment
- 2 core concepts
- 2 exam tips
Lesson Topics
- Brokerage Services
- Property-Management Services
Overview
Real estate brokerage and licensed real estate services: Brokerage activity involves representing clients in real estate transactions, including finding buyers and negotiating terms for compensation. This distinguishes it from appraisal, construction, or title services. Key decision: Finding a buyer and negotiating sale terms for compensation is brokerage activity because the person is performing licensed real estate services for another. The scenario is not limited to valuing property, building improvements, or issuing title coverage.
Core Concepts
- Term: Real estate brokerage and licensed real estate services - Finding a buyer and negotiating sale terms for compensation is brokerage activity because the person is performing licensed real estate services for another.
- Term: Property-management services - Leasing property and collecting rent for another for compensation are regulated brokerage services unless an exemption applies.
Exam Tips
- Real estate brokerage and licensed real estate services: eliminate “Property appraisal only”; An appraisal opinion estimates value; it does not include finding a buyer and negotiating a sale for compensation.
- Property-management services: eliminate “No license is needed because the properties are rentals rather than sales”; Chapter 475 reaches compensated leasing and property-management activity, not only sales.
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Section 2
License Law and Qualifications for Licensure
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Section 3
Real Estate License Law and Commission Rules
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Section 4
Authorized Relationships, Duties and Disclosures
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Section 5
Real Estate Brokerage Activities and Procedures
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Section 6
Violations of License Law, Penalties and Procedures
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Section 7
Federal and State Laws Pertaining to Real Estate
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Section 8
Property Rights: Estates, Tenancies; Condominiums, Homeowner Associations, and Time-Sharing
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Section 9
Titles, Deeds, and Ownership Restrictions
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Section 10
Legal Descriptions
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Section 11
Real Estate Contracts
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Section 12
Residential Mortgages
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Section 13
Real Estate Appraisal
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Section 14
Types of Mortgages and Sources of Financing
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Section 15
Real Estate Related Computations and Closing of Transactions
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Section 16
Taxes Affecting Real Estate
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Section 17
Planning and Zoning
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Section 18
Real Estate Investments and Business Opportunity Brokerage
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Section 19
Real Estate Markets and Analysis
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