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The Appraisal Institute defines highest and best use as follows: The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical ...
Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand. The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the research on real estate trends focuses on the ...
Freed by the Supreme Court from the legal restrictions, it became possible for non-whites to buy homes that had previously been reserved for white residents. Generally, "blockbusting" denotes the real estate and building development business practices which both profit and are fueled by anti-black racism.
The fake-agent scam is often targeted against industry newcomers, since they will often lack the experience required to spot such tricks. Legitimate talent agencies advise that a genuine talent agent will never ask for money up-front, as they make their entire living from commissions on their clients' earnings.
A broker price opinion, or BPO, is an estimate of a property’s value conducted by a real estate broker, agent or qualified realty firm. The real estate professional will consider comparable ...
2. Ask friends and family for agent referrals. One great way to find a good real estate agent is to ask people in your network if they can recommend one with whom they’ve had a good experience ...
November 25, 2023 at 7:36 AM. Last month, a real estate agent in Patty Zuzek’s office got a call about selling a plot of land. The caller, who had heard about the real estate agency through a ...
Multiple listing service. A multiple listing service ( MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.