Realtor facts & stats

Question 1

When a home is for sale, whom does the 'listing agent' represent?

Accepted Answer

The seller. The listing agent works for the seller to market the home; a buyer's agent represents the buyer.

Question 2

What is a deed?

Accepted Answer

A legal document that transfers ownership of property. A deed is the signed legal document that passes ownership of real property from one party to another.

Question 3

In real estate, what does MLS stand for?

Accepted Answer

Multiple Listing Service. A Multiple Listing Service is a shared database agents use to list and find properties for sale.

Question 4

In a home sale, what is a 'fixture'?

Accepted Answer

An item permanently attached to the property. Fixtures, like built-in lights or cabinets, are attached to the property and normally stay with it.

Question 5

What do zoning rules control?

Accepted Answer

How land in an area may be used. Zoning laws set what land can be used for, such as homes, shops or factories, and often building size.

Question 6

One hectare, a common land measure, equals how many square meters?

Accepted Answer

10,000. A hectare is 100 m by 100 m, or 10,000 square meters; 4,047 m² is about one acre.

Question 7

The word 'mortgage' comes from Old French words meaning what?

Accepted Answer

Death pledge. 'Mort' means dead and 'gage' means pledge: the pledge 'dies' when the debt is paid or the deal fails.

Question 8

What is an easement?

Accepted Answer

A right to use part of someone else's land for a specific purpose. Easements let others, such as utility companies, use part of a property for a set purpose like power lines.