Study Cards - Tucker School of Real Estate

Chapter 1

Home Inspection

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Inspection and or report of a property's structural, mechanical and site conditions.

Categories of Real Property

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  • Residential
  • Commercial
  • Industrial
  • Agricultural
  • Special purpose

Development

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Building of improvements on land, such as infrastructure, roads, drainage systems and even homes.

Realtor®

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Real estate licensee who is a member of National Association of Realtors®; adheres to Code of Ethics.

Subdivision

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Separating one larger parcel into multiple smaller parcels or lots.

Salesperson

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Type of Real Estate license. One who operates under the supervision of a principal Broker.

Broker

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Real estate licensee that can contract directly with clients to provide services for a fee. May also supervise other licensees if designated as the Principal Broker.

Principal Broker

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One with a Broker's license who has designated themselves to the Real Estate Commission as the party primarily responsible for all acts performed under that license. May "hold" the licenses of Salespersons and other Brokers.