principles of real estate, a business of many specializations

Vocabulary flashcards covering the various specializations within the real estate business as outlined in Unit 1 of Modern Real Estate Practice.

Brokerage

The business of bringing people together in a real estate transaction.

Appraisal

The process of developing an opinion of the market value of real property.

Property management

The business of managing real estate to protect the owner's investment and maximize the owner's return.

Financing

The business of arranging for or providing funds for real estate transactions.

Subdivision and development

The activities of dividing a large parcel of real estate into smaller ones and constructing improvements on the land.

Home inspection

The activities involved in conducting a visual survey of a property's site conditions, structure, and systems, and preparing an analytical report useful to both buyers and homeowners.

Counseling

The activity of providing clients with competent and independent information and advice to assist in their real estate investment decisions.

Education

The provision of real estate education opportunities to both practitioners and consumers.

Others

Setting in which real estate expertise is required,such as the practice of law, corporations with extensive land holdings and government agencies