Mastering Real Estate Principles: eighth edition
Mastering Real EstateMastering
Principles
Real 8thPrinciples
Estate Edition 8th ? Verified
Edition Questions and Answer
Study Guide
Study online at https://quizlet.com/_h3k9ji
1. National Association of Founded in 1908
Realtors (NAR) Sponsor Educational Programs
Established a code of ethics
Takes position on legislation affecting RE and testify to congress on RE
matters
2. Classes of Real Estate Residential, Commercial, Industrial, Agricultural, Special Purpose
3. Physical Characteristics Immobility, indestructibility, and non-homogeneity (uniqueness)
of Real Estate
4. Economic Characteris- Scarcity, Location, Modification (Improvements), Permanence of Invest-
tics of Real Estate ment
5. Factors that affect sup- Labor supply, Government Controls, Government Financial Policies
ply (supply&demand)
6. Factors that affect de- population, demographics, employment, and wage levels
mand (supply&demand)
7. Permanence of Invest- Investments in real estate are long-term
ment
8. Market Segmentation When several different markets operate in the same area
9. Allodial System Legal system that recognizes full property ownership and rights of indi-
viduals
10. Property Rights (Bundle Possession, enjoyment, disposition, control, exclusion
of Legal Rights)
11. Raw Land Land that is unimproved
12. Possession The right to occupy the property
Mastering Real Estate Principles 8th Edition ? Verified Questions and Answer
1/3
Mastering Real EstateMastering
Principles
Real 8thPrinciples
Estate Edition 8th ? Verified
Edition Questions and Answer
Study Guide
Study online at https://quizlet.com/_h3k9ji
1. National Association of Founded in 1908
Realtors (NAR) Sponsor Educational Programs
Established a code of ethics
Takes position on legislation affecting RE and testify to congress on RE
matters
2. Classes of Real Estate Residential, Commercial, Industrial, Agricultural, Special Purpose
3. Physical Characteristics Immobility, indestructibility, and non-homogeneity (uniqueness)
of Real Estate
4. Economic Characteris- Scarcity, Location, Modification (Improvements), Permanence of Invest-
tics of Real Estate ment
5. Factors that affect sup- Labor supply, Government Controls, Government Financial Policies
ply (supply&demand)
6. Factors that affect de- population, demographics, employment, and wage levels
mand (supply&demand)
7. Permanence of Invest- Investments in real estate are long-term
ment
8. Market Segmentation When several different markets operate in the same area
9. Allodial System Legal system that recognizes full property ownership and rights of indi-
viduals
10. Property Rights (Bundle Possession, enjoyment, disposition, control, exclusion
of Legal Rights)
11. Raw Land Land that is unimproved
12. Possession The right to occupy the property
Mastering Real Estate Principles 8th Edition ? Verified Questions and Answer
1/3
