Unit 1 of 19

The real estate business

How the real estate industry is organized: market sectors, property types, licensing roles, and the professional organizations around them.

  1. 1
    Real estate specializations and who needs a license
    The main career paths in real estate (brokerage, appraisal, property management, financing, development, construction and counseling) and which of them need a Florida license.
    +50 XP
  2. 2
    Property types and homeownership
    The five broad categories of real property (residential, commercial, industrial, agricultural and special purpose) and the basic advantages and costs of owning a home.
    +50 XP
  3. 3
    How a brokerage is organized
    The three Florida license roles (broker, broker associate and sales associate), how they fit together inside a brokerage, and why every associate works under a broker.
    +50 XP
  4. 4
    Comparative market analysis versus appraisal
    What a comparative market analysis is, how it differs from an appraisal, and why a Florida sales associate may prepare one but may never call it an appraisal.
    +50 XP
  5. 5
    Professional organizations
    The National Association of REALTORS and its REALTOR membership mark, Florida Realtors, and the National Association of Real Estate Brokers, and how trade groups differ from the state licensing system.
    +50 XP

Practice questions

Check yourself with exam-style questions. Each one explains the answer as soon as you pick.

Practice Unit 1