Commercial Real Estate Commercial Property Types Tenancy Brokerage Compensation Potpourri
100
What is five?
________ or more units in one property would be classified as commercial real estate.
100
What is a midrise building?
Constructed in a similar fashion to highrise buildings but contain fewer floors
100
What is the Security Deposit Act?
Regulates and protects the security deposits of residential tenants.
100
What is party?
Brokers may share compensation with a ________ party of the transaction.
100
What is 10-31 exchange?
A method of transferring property that defers the tax impact of the transaction
200
What are databases?
The vast majority of commercial listing systems are __________
200
What is super-regional shopping centers?
Has three or more anchor tenants in excess of
100,000 square feet and a large variety of other products and services in smaller shops;
200
What is a magistrate?
The officer of the court who hears most actions for summary ejectment of a residential tenant by a landlord for non-payment of rent.
200
What is 90?
The total amount of hours required to finish all post-licensing courses.
200
What is an upfit?
Modifications needed to a leased space prior to being usable and open for business.
300
What is free look period?
An opportunity to inspect a property and cancel the contract at any time before the expiration of the inspection period.
300
What is retail?
This type is more likely to have common area management areas.
300
What is the Residential Rental Agreements Act?
The most important legislation ever passed in North Carolina for the protection of residential tenants
300
What is an unlicensed assistant...
An example of an individual who may not receive compensation for real estate services.
300
What is a short sale?
When the sales price of the property is less than the total amount owed on the property.
400
What is an office?
Rentable area, core plate, and core area are vital in this type of commercial real estate.In an apartment building, an investor asks to know how many units are available and how many were used over a period of time.
400
What is Industrial?
This type of property is more prone to environmental considerations than any other type of commercial property.
400
What is the term?
According to the NC Tenant Security Deposit Act what aspect of the lease determines the amount of security deposit a landlord can collect
400
What is a real estate broker?
1) lists, sells, buys, auctions,* leases, rents, sells leases, or offers to do any of the foregoing, or otherwise negotiates the purchase, sale or exchange of real estate or improvements thereon,
400
What is BOMA (Building Owners and Managers Association)?
The standard of measurement for office space.
500
What is an absorption rate?
In an apartment building, an investor asks to know how many units are available and how many were used over a period of time.
500
What is Transportation Improvement Plan?
Provides information on pending transportation improvement plans for roads and other transportation facilities in the area.
500
What is the Service Members Civil Relief Act?
SCRA
500
Who is the broker-in-charge?
Responsible for overseeing the work of all brokers, ensuring brokers have received continuing education and all advertising is handled appropriately.
500
What are linkages?
Relationships between land uses and other components of the market or submarket.






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