ORIGINAL BG1 ALT RE ENGLISH FINAL EXAM

66 Questions

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

Street level

What does 'Landlord or landlady' refer to?

Property owner who rents to a tenant

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

Elevator

What does 'Tenant' mean in real estate?

Person who rents real estate and pays rent

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

€130

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

Bac + 2 diploma

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

12 months

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

50 hours

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

Monthly rent, security deposit, and fees due

What is Negative Equity in real estate?

When a property's value is less than the outstanding mortgage

What does APR stand for in real estate?

Annual Percentage Rate

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

Written agreement and social security registration

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

What does OMV stand for in real estate?

Open Market Value

What does En-suite refer to in real estate?

A bathroom that is accessed from a bedroom

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

'Receipt confirming delivery, acknowledgment of receipt'

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

'Household insurance'

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

'Preliminary agreement'

'Appartement meublé' refers to what type of apartment?

'Furnished apartment'

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

'Property viewing form signed by prospective buyers'

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

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

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

Developing a trusting relationship with the client

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

Asking open-ended questions

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

To ensure a clear understanding and alignment

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

Genuine interest in the answer

Why is mirroring client behavior considered helpful in developing rapport?

Helps develop rapport and mutual understanding

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

Permis de construire

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

Conditions that must be met before a sale can be completed

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

The physical status of an apartment or building, including an inventory of fixtures

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

Land map

What does 'emménager' mean in real estate context?

To move in

What is an 'expert immobilier' in real estate?

Chartered surveyor

'Terrain à bâtir' is the term for:

Building land or land designated for construction

'Unilateral agreement to sell' is called:

'Promesse unilatérale de vente'

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

Declaration of building work completion for tax purposes

'Droit de préemption' refers to:

The right to buy in preference to others, also known as a pre-emption right

'Huissier (de justice)' is responsible for:

Serving legal documents in real estate transactions

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

Authorization certificate justifying their skills and authority

'Notarial certificate of purchase' is called:

'Acte de vente'

What is the role of a commercial real estate agent?

Acting as an intermediary between buyers and sellers

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

Legal consultations

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

Having a level IV diploma

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

Having a high school diploma

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

Salary and commission

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

Passing a professional exam

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

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

Being under an employment contract

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

Capital gains

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

Avoiding setting expectations and getting comfortable with silence

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

'Body language, facial expressions, and mood'

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

Selecting a convenient location for clients

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

Building a sphere of influence through networking

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

Appearance and face-to-face meetings

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

To motivate buyers to act quickly

What is important for understanding and empathizing with clients?

Mastering the art of listening

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

Market volatility and rapid changes in property values

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

Property sales declining during a recession

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

Land

What is the process of real estate development?

Purchase of raw land, rezoning, construction, and sale or lease of finished product

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

Using leverage (debt) from lenders

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

Show the benefits of owning versus renting

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

Financial investment advice

What does 'Leasehold' mean in real estate?

Ownership of land without any property on it

What is a 'Mortgage Offer' in real estate?

An offer from a bank or lender to provide a mortgage loan

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

Apartment

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.

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.

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