Types of Real Estate
What type of real estate is a house or apartment?
Residential
What do you call money made from selling a property for more than you bought it?
Profit
What is the most important factor in real estate?
Location
What do you call the legal process of transferring ownership of a property from seller to buyer?
Settlment
Who shows houses to buyers?
Real Estate Agents
What type includes offices and shopping centres?
Commercial
What is it called when you buy a house, fix it, and sell it quickly?
Flipping
Are houses closer to the city usually more or less expensive.
More expensive
What do you call the fee paid to a real estate agent after a successful sale?
Commision
What is the job title of a person who helps a real estate agent with paperwork, scheduling, and client support?
Assitant Agent
What type includes factories and warehouses?
Industrial
What is the regular payment tenants make to live in a property?
Rent
What is one of the most important factors that houses use to appreciate over time?
Location
What is the proccess called when a liscenced professional evaluates a properties worth for a bank, sale, or taxation purposes?
Valuation
Who manages the proccess in which buildings are constructed?
Property Developer
What type is empty property with no buildings?
Land
What is the loan used to buy a house called?
Mortgage
Because demand and location increase value
What is the term for checking a property for issues before buying?
Inspection
Who determines the value of a property?
Appraiser/Valuer
What type of real estate would a farm fall under?
Agricultural
What do you call income earned from renting out property?
Passive income/ Cash flow
What do you call the economic concept where higher demand in a popular area increase property prices?
Supply and Demand
What is the term for the portion of a property's value that the owner actually owns outright, not including any loans?
Equity
Who owns property to make money?
Investor