“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousAcronyms

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousAcronyms

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 100 A 1031 exchange is one way to delay ______ consequences from a sale

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 200 The effective _______ expresses the NPV of the lease in an equivalent annuity form

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 300 In this type of lease, the tenant pays for all operating expenses

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 400 “______ Time” is time which an agent spends answering phone calls

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 500 An agreement that fixes the time period and the minimum selling price acceptable to the seller is called a _________

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 100 There is an inherent conflict in the two seller objectives of minimizing the ____ to sell the home and maximizing the _____ obtained for it

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 200 Agents sometime claim that such listings become stigmatized

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner DAILY DOUBLE

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner The Taxable Income multiplied by the income tax rate equals the Taxes _______, if the Taxable Income is negative Daily Double Analytical for 300

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner An increase in economic life will cause the tax shelter to _______ Analytical for 400

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 500 Because agents in other countries where commission rates are lower sell a far greater number of homes that is typical in the US, economists believe that the American brokerage industry has considerable ________

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner LPVLPV Acronyms for 100

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Acronyms for 200 FSBOFSBO

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner CM A Acronyms for 300

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Acronyms for 400 CAMCAM

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner CCI M Acronyms for 500

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 100 If the purchase price of an office property is $200,000 and the first year depreciation is $4,000, then this is the basis at the end of the first year

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 200 With 25% allocated to land, this is the annual depreciation on a $180,000 purchase price with no capital improvements made on this office property

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 300 If a 4-year commercial lease for 25,000 SF involved a base rent excluding CAM and other expenses of $25 PSF, this is the gross commission payable at a 5% rate

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 400 Assuming a standard discount rate of 12.5%, this is the Effective Rent of a 7 year net lease at $30/SF per year with 2 years of free rent up front

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 500 If the purchase price of an office building is $1,000,000 with no capital improvements considered, then this would be the basis after 1 year if 25% of this price was allocated to land

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 100 Decreases in capital gains tax rates tend to ______ real estate values

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 200 The Cap Rate is equal to the NOI divided by the ______

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 300 REALTIST and NAR are both ___________ organizations

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 400 NOI – Debt Service = _______ before tax

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 500 M L S