Intro INTRODUCTION DO I WANT TO BE A REALTOR? HOW DID THE REAL ESTATE PROFESSION START? A profession is born So, how did licensing of real estate agents begin? READY TO MOVE FORWARD? CHAPTER 1 PREPARING FOR YOUR EXAM EXAMS STATE QUESTIONS TESTING FORMATS REAL ESTATE AGENT VS. BROKER WHAT IS A REALTOR®? WHAT TO TAKE TO YOUR EXAM GETTING READY FOR THE EXAM HELP! I HAVE TEST ANXIETY! TEST-TAKING STRATEGIES ARRIVING AT THE EXAM HOW TO DOMINATE AT THE REAL ESTATE EXAM Food and water Follow directions Read every word Keep moving Use scrap paper to its full advantage Don't rush Learn the process of elimination Don't overanalyze Change answers Be prepared for math questions Cramming CHAPTER 2 REAL ESTATE PRACTICES AND PRINCIPLES REAL VS. PERSONAL PROPERTY Real property's physical characteristics Real property's economic characteristics Property (or legal) rights Land descriptions CONTRACTS AND DEEDS General contract classifications and elements WHAT COULD STOP A CONTRACT FROM GOING THROUGH? PURCHASE AND SALE AGREEMENTS Other terms you need to know DEEDS Types of deeds Main parts of a deed Other important deed and title terms LEASES AND PROPERTY MANAGEMENT Freehold and non-freehold estates Types of leasehold estates (or "tenancies") Types of leases What do lessors and lessees have to do? Lease options Assignment vs. sublease Other lease terms and considerations Property management basics REAL ESTATE BROKERAGE Broker-related terms and types of agencies Agent's professional responsibilities and strategies The Multiple Listing Service (MLS) Marketing strategies and basics Marketing with the MLS Land development and building construction Property income analysis. CHAPTER 3 REAL ESTATE LAW REAL ESTATE LAW AND REGULATIONS BY STATE BASICS OF LICENSE LAW Licensing requirements Typical laws and statutes CONTRACTS AND LEGAL DOCUMENTS What happens if the property is destroyed between signing and closing? FEDERAL FAIR HOUSING LAW Important parts of the FHA you should know Housing not covered by the FHA Enforcement and fines of the FHA TRUTH IN LENDING ACT ("REGULATION Z") Early and final Regulation Z disclosure requirements Disclosure requirements for ARM loans Right of rescission Advertising disclosure requirements PROPERTY DISCLOSURES AND TRANSFERRING OWNERSHIP CHAPTER 4 MORTGAGES TAXES REAL ESTATE SETTLEMENT AND PROCEDURES ACT (RESPA) Controlled Business Arrangement (CBA) Computerized Loan Origination (CLO) HUD-1 - RESPA Uniform Settlement Statement SPECIAL AGREEMENTS Condos Condotels Half-shares or quarter-shares REITS (Real Estate Investment Trusts) Credit unions State-specific housing authorities and home financing authorities Mobile homes Private lending Bridge (blanket) loan Land contracts CHAPTER 5 APPRAISALS (AKA, HOW MUCH IS IT?) WHEN DO I NEED AN APPRAISAL? Loans and mortgages Real estate taxes Insurance Estate settlement Condemnation Buying for a business Exchanges WHAT MAKES A PROPERTY GO UP IN VALUE? INFLUENCES AND VARIABLES TO VALUE THE APPRAISAL PROCESS Market approach Income approach Cost approach CHAPTER 6 MATH REVIEW FOR THE REAL ESTATE AGENT DECIMALS Addition of decimals Subtraction of decimals Multiplication of decimals Division of decimals FRACTIONS Addition of fractions Subtraction of fractions Multiplication of fractions Division of fractions PERCENTAGES Percent to decimal Decimal to percent. Percent to fraction Fraction to percent Decimal to fraction Fraction to decimal MEASUREMENT OF DISTANCE, AREA, AND VOLUME Area Acreage Volume Perimeter FORMULAS AND FORMULA AIDS OTHER MATH NOTES AND USEFUL TERMS Interest Amortization Profit and loss Investment Net income Rate of return Taxation Proration and settlement Commissions Depreciation CHAPTER 6 ANSWER KEY: CHAPTER 7 PRACTICE TEST AND ANSWER KEY NATIONAL PRACTICE EXAM #1 ANSWER KEY FOR PRACTICE EXAM CONCLUSION GLOSSARY APPENDIX A STANDARDIZED TESTING COMPANIES APPENDIX B STATE-BY-STATE GUIDELINES FOR THE REAL ESTATE AGENT EXAM APPENDIX C STATE REAL ESTATE COMMISSIONS & BUREAUS APPENDIX D UNIFORM APPRAISAL REPORT APPENDIX E SAMPLE GOOD FAITH ESTIMATE APPENDIX F ACRONYMS BIBLIOGRAPHY.
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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2021. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Print version: Group Inc, Atlantic Publishing So You Want to Be a Real Estate Agent How to Pass Your State License Exam