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Introduction to Real Estate

Real Estate Principles 1 Chapter 1
Horizontales
One who buys and sells for another for a commission or fee
All property used for housing, from small city lots to acreage, both single-family and multifamily, in urban, suburban, and rural areas
The actual value measured in dollars of an aspect of construction or location
A registered trademark term reserved for the sole use of active members of local associations affiliated with NAR
The perceived value of an item based on the relative benefits expected to be derived from its use
In law, the requirements established by prior court decisions
The largest real estate professional organization in the world, representing all branches of the real estate industry.
The amount of money paid for an item
The amount of goods people are willing and able to buy at a given price; often coupled with supply
Business property, including offices, shopping centers, stores, theaters, hotels, and parking facilities
Elimination or reduction of real estate taxes to attract new business to an area
Verticales
The capital outlay for land, labor, materials, and profits necessary to bring a property into existence
The statute that controls the licensing of persons permitted to practice real estate brokerage in Texas
A group of people appointed by the governor to set policy in implementing the License Act
A person who is a member of the National Association of Real Estate Boards
Places of worship, schools, cemeteries, and government-held lands
Any lawful combination of the other five basic categories of real property permitted by local zoning
The amount of goods available in the market to be sold at a given price. The term often is coupled with demand.
Farms, timberland, pastureland, ranches, and orchards
Upward and downward fluctuations in business activity through the stages of expansion, recession, depression, and revival
The body of law based on custom, usage, and court decisions.
The characteristics of human populations, such as size, growth, density, distribution, and vital statistics
A person who performs real estate activities while employed by or associated with a licensed real estate broker
Warehouses, factories, and land in industrial districts
Designation of the Women's Council of REALTORS (Performance Management Network)
A place where goods can be bought and sold and a price established