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Chapter 1: Introduction to the Real Estate Business
Management of another's property for compensation
Bringing together parties interested in a real estate transaction
Member of National Association of REALTORS, adhere to Code of Ethics
Categories of Real Property
Residential, Commercial, Industrial, Agricultural, Special Projects
Interests, benefits, and rights associated with real estate ownership
Amount of goods people are willing and able to buy
Performs real estate activities under supervision of licensed real estate broker
Construction of improvements on land, i.e., new homes, water lines
Splitting a single property into smaller parcels
Place where goods are bought and sold, price is established
National Association of Real Estate Brokers (NAREB)
Dedicated to equal housing opportunity, members are REALISTS