Real Estate Essay

Words: 6817
Pages: 28
Open Document
Work in the real estate industry

CPPDSM4080A

Edition 2

Assignment 2 (TVET)

STUDENT NAME Daniel Skrzypek OTEN NUMBER N855096

Please read the “Guide to completing and submitting assignments” before you begin this assignment.

What you need to do

To successfully complete this assignment you must answer the following questions to demonstrate your knowledge. The assignment will be granted a result of “Competent” if the learning outcomes are achieved or “not yet competent” if not. If a result of “Not Yet Competent” is achieved you will be given the opportunity to resubmit your assignment.

Question 1: Describe the meaning of the term ‘Agency’ and identify the types of agency relationships that a real …show more content…
Relationship Options

Mortgage brokerages will typically decide between three different relationship options and stick with the chosen option, though in some cases, a brokerage may be open to different relationships with different borrowers and lenders, as the particulars of a given situation dictate.

In the case of mortgage brokerages, the brokerage may have a service relationship with the lender, the borrower or neither – in which case the brokerage would act as an intermediary between the lender and the borrower. The mortgage brokerage and its representative’s role and obligations to the borrower and the lender will vary depending on the nature of the service relationship between the mortgage brokerage and the lender or borrower.

Lender Relationships

Mortgage brokerages may choose to represent the lender and will treat the borrower as a customer of the brokerage. In this service relationship, the brokerage has an obligation to represent the lender’s best interests, and will owe to the lender general, fiduciary and regulatory obligations.

When representing a lender, the mortgage brokerage may treat the borrower as a customer of the lender. The Real Estate Act Rules defines customer as meaning a person who has contacted, but not engaged or employed, an industry member to provide services. The brokerage will treat the borrower (customer) honestly and exercise reasonable care and skill in providing information with respect to the lender’(s) mortgage
Show More

Related Documents: Real Estate Essay

Real Estate Financing

RE3095 Real Estate Financing: Notes & Mortgages 2-1 McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved. RE3095 – Spring Semester 2015 Notes  Evidence of Debt  Major Provisions – Amount borrowed – Rate of interest – Dollar amount, due dates, # of payments – Maturity date – Reference to security for the loan – Application of payments 2-2 RE3095 – Spring Semester 2015 Notes  Major Provisions – – – – – Default Penalties for late payment and forbearance…

Words 622 - Pages 3

Real Estate Audit Case

A newly hired Real Estate Director was instructed by the Executive Real Estate Committee to provide a comprehensive evaluation of their portfolio of over 300 stores. This request, difficult under any circumstance, was made more challenging because she had no staff or analytical tools to assist her. She may not have been prepared for this immense project, but we were. She got us started by giving us internal information on each store’s sales history and lease status. We provided drive time demographic…

Words 207 - Pages 1

CMBS101 Real Estate Essay

Introduction to CMBS (CMBS 101™) Presenters: Rodney Pelletier, Fitch Ratings Vida Tayebi, Fitch Ratings Romano Paredes, Morgan Stanley CMSA-EUROPE CONFERENCE 2008 LONDON, 4-5 NOVEMBER Overview → What are CMBS? → CMBS Process & Players → Typical → Rating CMBS Deal Structure CMBS Transactions → Different → CMBS Types of CMBS Deals Market Overview – Sub-prime Impact – 2008 CMSA-EUROPE CONFERENCE 2008 LONDON, 4-5 NOVEMBER What are CMBS? → CMBS are bonds sold through the capital markets…

Words 3365 - Pages 14

Real Estate Decision Making

SCHOOL OF URBAN & REGIONAL PLANNING SURP 841: Real Estate Decision Making Fall 2011 COURSE OUTLINE Instructor: Office: E-mail: Telephone: John S. Andrew, Ph.D., M CIP, RPP Robert Sutherland Hall, Room 525 john.andrew@queensu.ca 613-533-6000 ext. 75756 Session Time: Mondays, 11:30 am - 2:20 pm Session Room: Robert Sutherland Hall, Room 554 Overview of the Course The course is an introduction to the concepts, principles and analytical methods involved in making the broad variety…

Words 2314 - Pages 10

Successful Real Estate Agent

Successful Real Estate Agent Being a real estate agent can be a lucrative career for those who have the desired characteristics to succeed in the industry. Like many other careers, being a real estate agent can be challenging. For those who can withstand the challenge, their hard work will reap them a good payday. There are many qualities that an agent possess. If you possess some of the qualities, being a real estate agent may be a career for you. Successful real estate agents are self-motivated…

Words 402 - Pages 2

Ag Real Estate Brokers

have pursued, but I chose Ag real Estate. I interviewed my dad, who currently works as a self-employed broker around the front range of Colorado. There is a lot that plays into being a real estate broker and being self-employed, but one thing stood out to me when interviewing with my father. Working as a self-employed real estate broker requires great motivation and discipline. What is an Ag real estate broker? A real estate broker sells, for commission, real estate or land owned by others to clients…

Words 916 - Pages 4

Real Estate Law Essay

by common customs. Types of Estates: Estates – describes an interest in land or more specifically the degree, quantity, nature, and extent of interest that a person has in real property. Estates can be classified under several general headings: 1. Estate to use: ownership obtained by deed, will or possession. Ownership was often held for a future buyer and was often used to avoid a dower right. 2. Fee Simple: highest estate or absolute right in real property – essentially absolute…

Words 5127 - Pages 21

Valuation Real Estate Essay

North America with superior long-term growths prospects in markets with high barriers-to-entry for new supply. They focus on three basic principles to implement their strategy: 1) high-quality urban-and destination resort-focused branded hotel real estate 2) Innovative asset management 3) Conservative capital structure. The past strategy wasn’t successful. The growth in net income doesn’t relatively reflect the increase in assets. The return on asset is only 4% in 2011(($40,407,000-$25,778,000)/$370…

Words 624 - Pages 3

Personal Narrative: A Career In Real Estate

Hello and Welcome! I am a customer-service-oriented real estate agent who helps home buyers and sellers in Brevard County. When buying or selling a home, you need guidance from a real estate agent who knows the local market and has your best interests at heart. As my client, you will benefit from my in-depth knowledge of the local market and my "people-first" approach to real estate. I see real estate as a people business, first and foremost. It's more than just dollars and cents. It's about…

Words 970 - Pages 4

Real Estate Study Questions Essay

d. appropriate only for a short range of investment goals. 12. Real estate investors: a. may be active or passive investors, depending upon whether they take an equity or a debt position. b. always depend upon income tax benefits to make the investment successful. c. are required to exercise stand-by loan commitments. d. either directly or indirectly, purchase rights to a stream of future cash flows. 13. Real estate is an appropriate investment vehicle: a. for individuals, but not…

Words 2248 - Pages 9