Mastering Real Estate Principles

by Gerald R. Cortesi

6th Edition

Copyright 2013 Kaplan, Inc. All rights reserved.

Mastering Real Estate Principles

by Gerald R. Cortesi

6th Edition

Unit I Introduction To Real Estate Chapters 1 & 2

2013 Kaplan, Inc.

Chapter 1 - Introduction to Real Estate Learning Objectives

List and describe various real estate services Name the five classes of real estate Identify the three physical characteristics of real estate Name the four economic characteristics of real estate Discuss factors affecting supply & demand Describe the effect on value when supply and demand change

Mastering Real Estate Principles - G. Cortesi (Unit I)

2013 Kaplan, Inc.

Chapter 1 - Introduction to Real Estate Real Estate Services Provided

Brokerage Appraisal Property management Financing Property inspection

Property development Education Counseling Rental finding services Urban planning

Mastering Real Estate Principles - G. Cortesi (Unit I)

Chapter 1 - Introduction to Real Estate Classes of Real Estate

Residential Commercial Industrial Agricultural Special purpose

Mastering Real Estate Principles - G. Cortesi (Unit I)

Chapter 1 - Introduction to Real Estate Physical Characteristics of Real Estate

Immobility Indestructibility Nonhomogenity (Uniqueness)

Mastering Real Estate Principles - G. Cortesi (Unit I)

Chapter 1 - Introduction to Real Estate Economic Characteristics of Real Estate

Scarcity Modifications (improvements) Permanence of investment Area preference (situs)

Mastering Real Estate Principles - G. Cortesi (Unit I)

Chapter 1 - Introduction to Real Estate Real Estate Market

Market is local Prices are slow to adjust Price is affected by supply and demand

Mastering Real Estate Principles - G. Cortesi (Unit I)

Chapter 1 - Introduction to Real Estate Factors Affecting Supply and Demand

Labor supply Government controls Government financial policy

Population Demographics Employment and wage levels

Mastering Real Estate Principles - G. Cortesi (Unit I)