BG1 ALT 1 RE ENGLISH FINAL EXAM

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Questions and Answers

What is the term for 'Ground floor' in the UK?

Street level (correct)

Mezzanine level

First floor

Basement level

What does 'Landlord or landlady' refer to?

Property owner who rents to a tenant (correct)

Property seller

Property manager

Property buyer

What is the term for 'Lift' in the UK?

Moving walkway

Staircase

Elevator (correct)

Escalator

What does 'Tenant' mean in real estate?

Person who rents real estate and pays rent Signup and view all the answers

What is the cost for the initial issuance of a professional real estate agent card in France?

€130 Signup and view all the answers

What is the minimum academic qualification required to become a real estate agent in France?

Bac + 2 diploma Signup and view all the answers

What is the maximum validity of a mandate for real estate transactions in France?

12 months Signup and view all the answers

How many hours of mandatory continuing education does a real estate agent in France require over 3 consecutive years?

50 hours Signup and view all the answers

What details must be included in rental ads according to the regulations in France?

Monthly rent, security deposit, and fees due Signup and view all the answers

What is Negative Equity in real estate?

When a property's value is less than the outstanding mortgage Signup and view all the answers

What does APR stand for in real estate?

Annual Percentage Rate Signup and view all the answers

What formalities are involved when hiring a collaborator or employee as a real estate agent in France?

Written agreement and social security registration Signup and view all the answers

What is the purpose of No Sale, No Fee in real estate?

A fee structure for real estate agents where they only get paid if the property sells Signup and view all the answers

What does OMV stand for in real estate?

Open Market Value Signup and view all the answers

What does En-suite refer to in real estate?

A bathroom that is accessed from a bedroom Signup and view all the answers

What is 'Attestation d'acquisition' in the context of property?

'Receipt confirming delivery, acknowledgment of receipt' Signup and view all the answers

'Assurance habitation' refers to what in the context of property?

'Household insurance' Signup and view all the answers

'Avant-contrat' is a preliminary agreement in the context of property related to what?

'Preliminary agreement' Signup and view all the answers

'Appartement meublé' refers to what type of apartment?

'Furnished apartment' Signup and view all the answers

'Bon de visite' is related to what aspect of property viewing?

'Property viewing form signed by prospective buyers' Signup and view all the answers

What does 'adverse possession' refer to in the context of property ownership tax?

Claiming ownership of a property after occupying it without consent for 30 years Signup and view all the answers

What does 'power of attorney' or 'procuration' refer to in the French legal system?

A legal document authorizing someone to act on another person's behalf Signup and view all the answers

What is an important aspect of meeting with clients before beginning the real estate journey?

Developing a trusting relationship with the client Signup and view all the answers

Which technique is recommended for questioning clients to yield richer conversations?

Asking open-ended questions Signup and view all the answers

Why is repeating what the client said in your own words important?

To ensure a clear understanding and alignment Signup and view all the answers

What does using an assertive order instead of a question demonstrate when interacting with clients?

Genuine interest in the answer Signup and view all the answers

Why is mirroring client behavior considered helpful in developing rapport?

Helps develop rapport and mutual understanding Signup and view all the answers

What is the French term for a 'building permit'?

Permis de construire Signup and view all the answers

In real estate context, what does 'Clause suspensive' refer to?

Conditions that must be met before a sale can be completed Signup and view all the answers

What does 'État des lieux' refer to in real estate?

The physical status of an apartment or building, including an inventory of fixtures Signup and view all the answers

What is a 'Plan cadastral' in French real estate?

Land map Signup and view all the answers

What does 'emménager' mean in real estate context?

To move in Signup and view all the answers

What is an 'expert immobilier' in real estate?

Chartered surveyor Signup and view all the answers

'Terrain à bâtir' is the term for:

Building land or land designated for construction Signup and view all the answers

'Unilateral agreement to sell' is called:

'Promesse unilatérale de vente' Signup and view all the answers

'Déclaration d'achèvement des travaux' in real estate context refers to:

Declaration of building work completion for tax purposes Signup and view all the answers

'Droit de préemption' refers to:

The right to buy in preference to others, also known as a pre-emption right Signup and view all the answers

'Notarial certificate of purchase' is called:

'Acte de vente' Signup and view all the answers

'Huissier (de justice)' is responsible for:

Serving legal documents in real estate transactions Signup and view all the answers

What must real estate agents provide to employees acting on their behalf?

Authorization certificate justifying their skills and authority Signup and view all the answers

What is the role of a commercial real estate agent?

Acting as an intermediary between buyers and sellers Signup and view all the answers

What are commercial real estate agents not allowed to engage in?

Legal consultations Signup and view all the answers

What is a mandatory condition for exercising as a real estate agent?

Having a level IV diploma Signup and view all the answers

What is the requirement for exercising as an employee of a real estate agency?

Having a high school diploma Signup and view all the answers

What type of compensation can employees of real estate agencies receive?

Salary and commission Signup and view all the answers

What is required for the renewal of the professional card for employees of real estate agencies?

Passing a professional exam Signup and view all the answers

What is the right of employees of real estate agencies regarding clientele development?

They can develop their own clientele with permission from the real estate agent Signup and view all the answers

What is the requirement for employees of real estate agencies to be entitled to employee social protection?

Being under an employment contract Signup and view all the answers

What is the term 'plus-value' referring to in the real estate context?

Capital gains Signup and view all the answers

What technique is recommended for questioning clients to yield richer conversations?

Avoiding setting expectations and getting comfortable with silence Signup and view all the answers

'Leveraging emotional intelligence' involves being attentive to which aspects during client conversations?

'Body language, facial expressions, and mood' Signup and view all the answers

What is a key consideration when selecting the meeting place for client meetings?

Selecting a convenient location for clients Signup and view all the answers

What is a crucial aspect of success for real estate agents?

Building a sphere of influence through networking Signup and view all the answers

What is the crucial aspect of maintaining a professional image for real estate success?

Appearance and face-to-face meetings Signup and view all the answers

What is the purpose of a compelling call to action in a property description?

To motivate buyers to act quickly Signup and view all the answers

What is important for understanding and empathizing with clients?

Mastering the art of listening Signup and view all the answers

What is the potential source of stress for real estate agents?

Market volatility and rapid changes in property values Signup and view all the answers

What is a potential challenge related to the real estate market and economic changes?

Property sales declining during a recession Signup and view all the answers

What is the main category that serves as the baseline for all types of real property?

Land Signup and view all the answers

What is the process of real estate development?

Purchase of raw land, rezoning, construction, and sale or lease of finished product Signup and view all the answers

What is the most common way that real estate owners finance their business?

Using leverage (debt) from lenders Signup and view all the answers

What should a seller's agent do if a lead expresses that they are renting and happy?

Show the benefits of owning versus renting Signup and view all the answers

What are real estate agents not authorized to provide to clients?

Financial investment advice Signup and view all the answers

What does 'Leasehold' mean in real estate?

Ownership of land without any property on it Signup and view all the answers

What is a 'Mortgage Offer' in real estate?

An offer from a bank or lender to provide a mortgage loan Signup and view all the answers

What is the American term for a 'Flat' in the UK?

Apartment Signup and view all the answers

Study Notes

APR in real estate refers to the interest rate on a mortgage loan
Balance Outstanding in real estate is the remaining amount of a mortgage loan that the buyer owes to the lender
A Bridging Loan is used for temporary financing to bridge the gap between selling a current home and buying a new one
A Land Certificate is a document that proves ownership of a piece of real estate
Leasehold in real estate is ownership of a property but not the land it's on, with a ground rent
A Mortgage Deed is a legal document that details the terms of a mortgage loan
A Mortgage Offer is an offer from a bank or lender to provide a mortgage loan
Negative Equity is when a property's value is less than the outstanding mortgage
No Sale, No Fee is a fee structure for real estate agents where they only get paid if the property sells
OMV in real estate stands for Open Market Value
Public Liability Insurance is insurance for homeowners to cover accidents on their property
Repossession is the act of taking back a property from a borrower who has defaulted on their mortgage payments
RTB in real estate is a right for tenants to buy the property they rent at a discount
Shared Ownership is a way of buying a property in partnership with a housing association or local authority
En-suite in real estate refers to a bathroom that is accessed from a bedroom
The American term for a flat in the UK is an Apartment
For sale indicates that a property is available to be purchased
A Garden in the UK or a Yard in the USA is a recreational area with flowers and trees
The term for the person who leases a property is a Lessee
The French term for 'receipt confirming delivery, acknowledgment of receipt' is 'accusé de réception'
'Attestation d'acquisition' is a notarial certificate of purchase
'Agent immobilier' is the French term for a real estate agent or realtor
'Assurance habitation' is household insurance
'Architecte en chef des monuments historiques' is responsible for the protection of historical monuments
The French term for 'deed of sale' is 'acte de vente'
'Appartement meublé' is a furnished apartment
'Avant-contrat' is a preliminary agreement in the context of property
The French term for 'rental contract' is 'contrat de location'
'Bon de visite' is a property viewing form signed by prospective buyers
'Jouissance exclusive' is the right of exclusive enjoyment in real estate context.
Property ownership tax: B. Handover of the keys: A person can claim ownership of a property after 30 years of adverse possession, which involves occupying someone else's property without their consent but which the claimant believes they have the right to use. - Real estate 'plus-value': A. Capital gains: Refers to the profit made from the sale of a property. - French: 'power of attorney': C. procuration: A legal document that authorizes someone to act on another person's behalf.
Meeting with clients:
1. Before beginning the real estate journey: Develop a trusting relationship with the client.
2. First impression: Be well-prepared and dressed professionally.
3. Meeting place: Choose a convenient location for clients.
4. Greeting clients: Stand up as they arrive and give them a firm handshake.
5. Making clients comfortable: Develop common grounds.
6. Communication: Let clients know they can tell or ask you anything.
7. Before first meeting: Avoid any pre-meeting communication.
8. After a few meetings: Send a thank-you email or text.
Client rapport: Building rapport is important to identify clients' needs and provide information.
Repeating information: Repeating what the client said in your own words helps ensure a clear understanding and alignment.
Questioning clients:
1. Approach: Ask open-ended questions to yield richer conversations.
2. Avoid setting expectations: Don't offer possible answers and get comfortable with silence.
Mirroring client behavior: Mirroring behavior helps develop rapport and mutual understanding.
Conversation techniques:
1. Leverage emotional intelligence: Be attentive to body language, facial expressions, and mood.
2. Avoid psychological manipulation: Focus on understanding the client's needs.
Asking about vacations: Ask if they had a good time on vacation to develop rapport.
Repeating back information: During pre-initial client meetings.
Assertive orders: Using an assertive order instead of a question demonstrates genuine interest in the answer.

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Description

Test your knowledge of real estate concepts and client interaction with this quiz. Answer questions about property ownership tax, plus-value in real estate, French terms, and client relationship building.