Study guides, Class notes & Summaries

Principles of Real Estate 1 Final Exam

TEXAS PRINCIPLES OF REAL ESTATE 1 brokerage The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate. real estate broker A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee real estate salesperson A person performing any of the acts included in the definition of real estate broker but while associated with and supervised by a broke...

exam

A local real estate developer bought an abandoned school building with the intention of converting it to residential units. This is an example of... - ....ANSWER...Converted use property An individual is exempt from paying taxes on capital gains for up to how much in profit if he/she lived in the house for at least 2 of the last 5 years. - ....ANSWER...$250,000 The employer of an agent is referred to as the... - ....ANSWER...principal An agency relationship created by oral or writt...

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