FL Real Estate - Unit 1 Flashcards

FL Real Estate - Unit 1 Flashcards rental agentA person who, for a fee, acts as an intermediary between a person seeking to lease a housing accommodation and a property owner seeking to acquire a lease for a housing accommodation.property managerA person who manages properties for various owners.Primary duties are to secure and keep tenants, to provide financial records and accounts, and to provide upkeep and maintenance of the properties.appraisalThe process of developing and communicating an opinion of a property's value based on supportable evidence and approved methods as of a certain date.business brokerReal estate licensees who engage in the sale, purchase, or lease of businesses.property managementThe leasing, managing, marketing, and overall maintenance of property for others.REALTOR(R)A real estate broker who is a member of a local board of REALTORS(R) and is affiliated with the state association (Florida Realtors(R)) and the National Association of REALTORS(R). The term is not synonymous with "real estate agent." target marketA specific group of prospects chosen because of its demographic, financial, and lifestyle characteristics.real estate brokerageA part of the real estate business that is concerned with bringing together buyers and sellers and owners and renters and completing a real estate transaction.broker's price opinion (BPO)A written opinion of the value of real property.dedicationAn offer of land for some public use, by an owner, together with acceptance by or on behalf of the public.multiple listing service (MLS)An arrangement among members of a real estate board or exchange that allows each member broker to share listings with other members so that greater exposure is obtained and a greater chance of sale will result.farm areaA selected geographical area or group of people form which to solicit real estate business and to which a real estate licensee devotes special attention and study.comparative market analysis (CMA)An informal estimate of market value performed by a real estate licensee for the seller to assist in arriving at an appropriate listing price, or if working with the buyer, an informal estimate of market value to assist the buyer in arriving at an appropriate offering price.

appraiserOne who is registered, licensed, or certified by the DBPR and provides an estimate of value.business opportunityThe real estate activity dealing in the sale, purchase, or lease of businesses.subdivision plat mapA plan of a tract of land subdivided into lots and showing required or planned amenities.follow upWhat a sales associate does after a sale to maintain customer contact and goodwill.absentee ownerA property holder who does not reside on the property and who usually relies on a property manager to supervise the investment.community association manager (CAM)A person who holds a CAM license to manage community associations of more than 10 units and associations with annual budgets in excess of $100,000.