Texas Real Estate Brokerage Sales Apprentice Education (SAE) Practice Exam

Location preference, or ______, indicates an economic preference for a particular location.

1. Cohesion

2. Situs

3. Accessibility

4. Proximity

The correct answer is: Situs

The correct response is 'situs,' which refers to the physical location or site of property and the economic value associated with that location. In real estate, situs takes into account not just the geographical position but also the preferences people have for living in or conducting business in certain areas. This concept encompasses the idea that certain locations can command higher values due to factors like access to amenities, community reputation, school quality, and overall desirability. Understanding situs is essential for real estate professionals because it helps them analyze market trends and assess property values more accurately depending on location preferences. The other terms mentioned do not capture this specific notion; cohesion relates to social dynamics, accessibility refers to how easily a location can be reached, and proximity focuses on the distance between objects or locations without the specific economic implications of location preference that situs embodies.