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Here are the 30 real estate exam vocabulary terms you need to pass your real estate exam
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🕒 Chapters:
0:00 Introduction
0:35 Property Tax
1:11 Net Listing
02:08 Net Operating Income
2:35 Net Lease
03:04 Sole Proprietorship
03:38 Tie-in-Agreement
04:16 Subletting
04:50 Subleasing
05:25 Receivership
06:06 Property Management
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0:00
picture this you're just about to take
0:02
the real estate exam and you are briming
0:06
with confidence and ready to conquer
0:09
sounds surreal right well what if I told
0:11
you it is Within Reach no more second
0:14
guessing and stressing over unfamiliar
0:18
terminology mastering just essential
0:21
real estate trims 61 to 90 will help you
0:25
boost your confidence and AG the real
0:27
estate exent it's time to turn the that
0:30
dream into reality you've got this let's
0:34
go property tax take a few seconds and
0:38
correct this
0:39
[Music]
0:44
term property tax is essentially a fee
0:47
that property owners pay to their local
0:50
government calculated as an ad valorum
0:53
tax it's based on the value of the owned
0:56
property think of it as a way for local
0:59
governments to maintain and improve
1:01
communities all while you enjoy the
1:04
benefits of owning a piece of real
1:07
estate let's jump straight to the next
1:10
term net listing guess what net listing
1:14
[Music]
1:18
means in a net listing the seller and
1:21
agent team up to make the most of a
1:24
property sale the seller sets a minimum
1:27
asking price and lets the agent work
1:29
their magic if the agent manages to sell
1:32
the property above the price they get to
1:35
keep the difference as a commission say
1:38
a seller sets a minimum price of
1:41
$500,000 for their house with a nap
1:44
listing the agent sells it for
1:49
$550,000 the agent earns a commission of
1:53
$50,000 which is the difference between
1:55
the selling price and the minimum price
1:58
it's a win-win situation where both
2:01
parties benefit from a successful sale
2:04
gear up for the next one net operating
2:09
[Music]
2:14
income net operating income is the money
2:18
a property brings in after subtracting
2:20
all those frustrating operating expenses
2:24
it's a snapshot of a property's
2:26
Financial Health and profitability
2:28
helping investors decide if it's worth
2:31
their time and money time to explore
2:34
another term net lease ready to take a
2:38
guess let's do
2:40
[Music]
2:45
this an nlas is a rental agreement where
2:48
the tenant pays rent and additional
2:51
property expenses like taxes insurance
2:54
and maintenance this structure exposes
2:58
tenants to property ownership
3:00
responsibilities without actual
3:02
ownership so
3:05
propri let's see if you can nail this
3:08
[Music]
3:13
definition a so appropriator ship is a
3:16
oneperson show where an individual or
3:19
married couple owns and runs the
3:22
business as the most popular model for
3:25
real estate agents it's like being Your
3:27
Own Boss where you and your business are
3:31
one entity simple flexible and
3:35
empowering here comes another
3:38
one Ty in agreement give it your best
3:41
shot what's this term
3:44
[Music]
3:47
about a tyeing agreement connects two
3:50
products or Services requiring the buyer
3:53
to purchase both together in real estate
3:56
this could mean agreeing to use a
3:58
specific lender or service provider as a
4:01
condition of the sale while it may offer
4:04
benefits or discounts buyers should
4:07
carefully consider the terms and
4:09
potential implications of such agreement
4:13
here comes a well-known couple
4:15
subletting what does sublating really
4:19
[Music]
4:23
mean ever played musical chairs but with
4:27
Apartments subletting is the real estate
4:30
version when a tenant needs to exit
4:33
their lease early they find a
4:35
replacement tenant to step up in their
4:38
rental agreement with the landlord it's
4:40
a strategic solution that keeps the
4:43
lease alive and ensures everyone has a
4:46
seat or rather a place to call home all
4:49
right how about
4:52
[Music]
4:57
suing suing is when a tenant rents part
5:00
or all of their lease space to another
5:03
person while remaining responsible for
5:05
the original lease it's like being a
5:08
mini landlord within your own rental
5:11
providing a flexible solution for
5:13
tenants with extra space or temporary
5:16
changes in their living situation always
5:19
consult your lease and local laws before
5:22
entering a sublet
5:24
agreement receivership can you decode
5:27
this peculiar term on the spot
5:30
[Music]
5:36
receivership is a legal process where a
5:38
court or lender appoints a receiver to
5:41
recover funds from a borrower in default
5:44
this helps protect the value of the
5:46
property while ensuring the lender's
5:48
interests are met in real estate
5:51
receivership can provide an orderly
5:53
resolution when a borrower struggles to
5:56
meet their financial
5:58
obligations can you you remember the
6:00
definition of property manager if you do
6:03
that will come in handy now the next
6:05
term is Property Management take a few
6:09
seconds and think about
6:11
[Music]
6:16
it Property Management involves
6:19
supervising real estate assets ensuring
6:22
smooth operations and maintaining their
6:24
value for owners and tenants it's a
6:27
vital service that keeps properties in
6:30
top shape and financially viable moving
6:33
on creative financing you got this let's
6:43
go creative financing is an Innovative
6:46
approach to securing funding for Real
6:48
Estate Investments without relying on
6:51
traditional lending methods investors
6:54
use unique strategies and techniques to
6:56
acquire the capital necessary for their
6:59
purchase is enabling them to think
7:01
outside the box when financing their
7:05
projects meing financing put your
7:08
definitional skills to the
7:15
test meanin financing plans debt and
7:18
Equity financing offering an alternative
7:21
funding source for Real Estate projects
7:24
it serves as a middle ground between
7:26
senior debt and Equity providing
7:28
additional capital
7:30
while giving lenders a lower priority in
7:33
repayment compared to senior lenders for
7:36
instance let's say a developer is
7:39
constructing a 20 million luxury
7:41
apartment complex but has only secured a
7:44
15 million Senor loan mine financing
7:47
could cover the remaining $5 million
7:50
while accepting a secondary repayment
7:53
position next up on the express term
7:56
train Kickback 5 4 3 3 2 1
8:06
go a kickback in real estate occurs when
8:09
an agent accepts Financial incentives or
8:13
valuable items for referring clients to
8:15
particular business or service this
8:18
controversial and illegal practice
8:20
involves sharing a portion of the
8:22
profits generated from referals with the
8:25
agent who facilitated the connection
8:27
raising ethical concerns with within the
8:30
industry ready for the next good there
8:33
you go the fair housing
8:40
act the Fair Housing Act is a crucial
8:43
federal law ensuring equal access to
8:46
housing opportunities by preventing
8:49
discrimination in buying selling renting
8:52
or financing homes protecting
8:55
individuals based on race religion sex
8:58
disability familial status and other
9:01
factors this legislation promotes a fair
9:04
and inclusive environment for all
9:07
seeking a place to call home and the
9:10
Fair Housing Act goes hand inand with
9:13
the fair housing amendments Act of
9:22
1988 the fair housing amendments act
9:26
fhaa strengthens the Fair Housing Act by
9:29
extending protection to families with
9:31
children and individuals with
9:34
disabilities enacted in
9:36
1988 this legislation fortifies the
9:39
fight against housing
9:42
discrimination onward to the next term
9:45
text Lan your turn to be the definition
9:53
Guru a Tex Lan is a legal claim imposed
9:57
on a property due to unpaid real estate
9:59
taxes ensuring the government's interest
10:02
in the property until the outstanding
10:05
debt is settled sticking with the
10:07
definitions relating to tax here is
10:10
another one tax rate think you know it
10:14
give it a
10:19
shot a tax rate represents the specific
10:23
percentage levied by the government on
10:25
individuals businesses or other entities
10:28
determin how much they must contribute
10:31
to the public cers next up is taxation
10:35
I'm sure you know
10:40
this taxation is the practice of
10:42
collecting a share of value from
10:44
individuals or businesses to fund and
10:48
support Public Welfare easy right let's
10:51
see the next room on our list it is none
10:54
other than principle of progression give
10:57
it a go and decode it
11:05
the principle of progression highlights
11:08
that a property's value tends to rise
11:10
when higher value developments emerge in
11:13
its vicinity reflecting the influence of
11:16
neighborhood improvements on real estate
11:18
worth here comes the misbehaving little
11:21
brother of principle of progression
11:24
principle of regression
11:33
the principle of regression posits that
11:36
a property's value May decline when
11:38
lower value developments are introduced
11:41
in its surrounding area reflecting the
11:44
impact of neighborhood changes on real
11:47
estate worth valid contract again it's
11:51
time to play against the
11:57
term a valid contract is a legally
12:00
binding agreement that fulfills all
12:02
Court defined criteria ensuring
12:05
enforceability under the law next term
12:09
activate Grant think you know it let's
12:18
see the legal transfer of real property
12:21
ownership from the seller to the buyer
12:24
via a title exchange speaking of a grant
12:28
next up is
12:35
grantee the lucky recipient who gets to
12:38
call themselves the new legal owner in a
12:40
real estate transaction all right let's
12:43
keep the momentum going here's another
12:45
one
12:52
granter the legal term for the seller in
12:55
a real estate
12:56
transaction now let's look at another
12:59
important concept Environmental
13:01
Protection Agency or
13:10
EPA the Environmental Protection Agency
13:13
EPA is a federal organization that
13:16
oversees and addresses environmental
13:19
concerns established in 1970 by
13:22
President Nixon's executive order the
13:24
EPA plays a vital role in preserving the
13:27
health of our environment
13:30
ready to conquer the next term deed but
13:33
what does deed
13:40
mean a deed serves as a written legal
13:43
instrument that officially transfers
13:46
real estate ownership from one party to
13:48
another documenting the transaction for
13:51
legal and public records now that you
13:54
know what deed is let's see if you can
13:57
nail deed restrictions
14:05
these restrictions Define legally
14:07
binding limitations on property usage
14:10
set by past or current owners that
14:13
typically remain in place indefinitely
14:16
shaping the property's present and
14:18
future development imagine in a Suburban
14:21
neighborhood a homeowners association
14:24
enforces a deed restriction limiting
14:26
house colors to neutral shades this
14:29
preserves the community's athetic and
14:32
maintains property values over time
14:35
fasten your seat belt here comes another
14:38
term subsidized
14:45
housing subsidized housing offers
14:48
government supported financial aid for
14:50
housing to low-income individuals and
14:53
families often referred to as affordable
14:56
housing in the United States this progam
14:59
program aims to ensure access to safe
15:01
and affordable living spaces for those
15:04
in need close to the finish line of this
15:07
round next up is zoning take a few
15:11
seconds and think about
15:18
it zoning involves local government
15:21
rules for public land use and
15:24
development these laws determine what
15:26
real property can or cannot be used for
15:29
in designated areas significantly
15:32
impacting Community growth and land
15:34
preservation next term let's get it
15:38
zoning ordinances go ahead take a guess
15:42
you've got
15:48
this zoning ordinances serve as the rule
15:51
book for determining how properties most
15:54
often land should be used and developed
15:57
within specific zones consider them the
16:00
referee ensuring that land use plays
16:03
well with Community needs goals and the
16:06
spirit of local planning you've done it
16:10
terms 61 to 90 are now under your belt
16:13
so you're well on your way of becoming a
16:15
real estate vocabulary Titan but the bad
16:19
news is if you missed our previous video
16:21
in this series on terms 31 to 60 you
16:25
might find yourself in trouble on your
16:27
exam day I I advise you to go back and
16:30
check it out to keep your exam hopes
16:33
alive and get ready for more adrenaline
16:36
pumping real estate knowledge as we
16:39
continue this journey together please
16:41
keep an eye on our next video and see
16:43
you soon
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