房地產(chǎn)與建設(shè)項(xiàng)目管理專業(yè)英語

1、房地產(chǎn)與建設(shè)項(xiàng)目管理專業(yè)英語Unit 1 Characteristics of Real Estateestatestet; e- 財(cái)產(chǎn)，資產(chǎn)，產(chǎn)權(quán)，社會等級，身份，階段財(cái)產(chǎn)，資產(chǎn)，產(chǎn)權(quán)，社會等級，身份，階段real estate 房地產(chǎn)，不動產(chǎn)房地產(chǎn)，不動產(chǎn)動產(chǎn)：動產(chǎn)：movable propertypersonal propertypersonal estateUnit 1 Characteristics of Real EstateReal estate has many unique characteristics that make it different from other t

2、ypes of products. The characteristics can be divided into physical and economic features.房地產(chǎn)有許多不同于其他產(chǎn)品的特性，這些特性可分為物理特性和經(jīng)濟(jì)特性Physical Characteristics1 Immobility Being immobility, the land is subject to control of the state and local governments under whose jurisdiction it exists. 1 固定性 由于土地是無法移動的，因此，它

3、受所在州或者地方政府法規(guī)的控制。2 Lack of Standardization Even if the physical features of two homes were almost identical, zoning, deed restrictions, or title encumbrance could make their values considerably different. 2 標(biāo)準(zhǔn)缺乏性 即使兩處房屋的物理性能幾乎形同，而所在區(qū)域、契約條件或債權(quán)資格均可以使房屋價(jià)格有很大差異。3 Long Life Real property may have a life s

4、pan of 10 to 200 or more years. 3 使用年限長 房地產(chǎn)有10200年甚至更長的使用壽命。4 Indestructibility Indestructibility, fourth physical characteristics of land, causes real estate to be a durable and relatively stable investment.4 不易損壞性 不易損壞性是房地產(chǎn)的第四個物理特征，這使得房地產(chǎn)具有耐久性，而且是一種相對穩(wěn)定的投資。Economic Characteristics In addition to t

5、he physical characteristics, land also has its particular economic characteristics: scarcity, fixed investment, location, improvements. These economic characteristics also have an impact on the manner in which real estate business is carried out. 除了物理特性外，土地還具有特殊的經(jīng)濟(jì)特性，諸如稀缺性、投資固定性和地域性以及可改良性等特性。這些經(jīng)濟(jì)特性對

6、房地產(chǎn)中的交易方式產(chǎn)生影響。1 Scarcity There is no scarcity of land as such; however, land of specific uses in specific locations is frequently insufficient to meet demand. 1 稀缺性 土地并非會稀有到這種程度，但是對于特定地點(diǎn)特定用途的土地卻常常供不應(yīng)求。2 Fixed Investment Most modifications or improvements to the land cannot be moved, and it may take

7、twenty or thirty years to repay the investment; thus, the investment is long lasting. 2 投資固定性 大多數(shù)對于土地的改良和開發(fā)都是不可逆的，而且其投資回收期可能長達(dá)二三十年；因此這種投資是個持久的過程。3 Location Similar pieces of real property may have extremely different values just because of the difference in location. 3 地域性 僅僅因?yàn)榈囟蔚牟煌?，兩處相似的房地產(chǎn)可能會擁有完全不

8、同的價(jià)值。4 Improvements The fourth economic characteristic of land is its ability to be modified or improved, with the associated impact upon the value. 4 可開發(fā)性 土地的第四個經(jīng)濟(jì)特性是可以被改良和開發(fā)，從而對其價(jià)值產(chǎn)生相應(yīng)的影響。Market CharacteristicsLocal Markets Real estate prices are highly vulnerable to local events such as plant lay

9、offs or decline in local industries. 本地市場 房地產(chǎn)價(jià)格非常容易受到當(dāng)?shù)刂T如工廠停工、工業(yè)衰退等事件的影響。Unorganized markets We saw that the immobility of real estate results in local markets. This, in turns, causes the real estate business to be highly decentralized and, to extent, unorganized. 無序市場 我們看到，房地產(chǎn)的不可移動性導(dǎo)致了本地市場的形成。這種不可移

10、動性進(jìn)而造成了房地產(chǎn)交易的分散甚至一定程度上的無序。Unbalanced Supply and Demand There may be a strong demand in some cities where economic conditions are good and, at the same time, a weak market in other cities where employment is low or industries are deteriorating.供需不平衡 在一些經(jīng)濟(jì)條件較好的城市，其房地產(chǎn)市場往往有著強(qiáng)烈的需求；同時(shí)，在其他一些就業(yè)率較低或者工業(yè)陷入衰退的

11、城市，其房地產(chǎn)市場常常比較疲軟。Private Transactions A large percentage of real estate transactions are between individual buyers and sellers where neither party is in the real estate business.交易的非公開性 大多數(shù)的房地產(chǎn)交易都是私人間的，買賣雙方都不是從事房地產(chǎn)經(jīng)營的。私人交易 相當(dāng)比例的房地產(chǎn)交易都是在個人買家和賣家之間發(fā)生，他們雙方都不能算作參與了房地產(chǎn)生意。Unit 2 Investors in Real PropertyIn

12、vestment in real property is carried out by private persons, private trusts and the institutionsinsurance companies, pension funds, charities, property companies, property bond funds and property unit trusts. To some extent each has different objectives, and so their preferences differ.房地產(chǎn)的投資者包括個人，私

13、人信托和某些機(jī)構(gòu)保險(xiǎn)公司，養(yǎng)老基金，慈善團(tuán)體，房地產(chǎn)公司，不動產(chǎn)債券基金以及不動產(chǎn)信托。 從某種程度上來說，它們都有各自的不同投資目標(biāo)，因此也有不同的投資側(cè)重點(diǎn)。Private Persons Anybody who purchases a property rather than renting is an investor. The satisfaction or return received should at least equal what could be obtained if, instead, premises were rented and the money inves

14、ted elsewhere.個人個人 任何購買而不是租賃不動產(chǎn)的個人都是投任何購買而不是租賃不動產(chǎn)的個人都是投資者。資者。物業(yè)價(jià)值的實(shí)現(xiàn)或者回報(bào)物業(yè)價(jià)值的實(shí)現(xiàn)或者回報(bào)應(yīng)不低于投應(yīng)不低于投資者出租該物業(yè)或作其他投資所得的回報(bào)。資者出租該物業(yè)或作其他投資所得的回報(bào)。Insurance Companies By and large, life-insurance companies try to match assets to future liabilities, and this largely determines the spread of their portfolios as betwe

15、en short and long-term fixed-interest investments and equity holdings.保險(xiǎn)公司保險(xiǎn)公司 一般而言，一般而言，人壽保險(xiǎn)公司人壽保險(xiǎn)公司努力使他們的現(xiàn)努力使他們的現(xiàn)有有資產(chǎn)資產(chǎn)與與將來的債務(wù)將來的債務(wù)相平衡，這在很大程度相平衡，這在很大程度上決定了其上決定了其投資范圍投資范圍：包括：包括短期的或長期的短期的或長期的固定回報(bào)率的投資固定回報(bào)率的投資和和股本的持有股本的持有。Pension Funds The smaller pension funds invest in property indirectly through pe

16、nsion fund property unit trusts, whose trust deeds limit membership to pension funds and charities enjoying tax exemption.養(yǎng)老基金養(yǎng)老基金 小型的養(yǎng)老基金一般通過小型的養(yǎng)老基金一般通過投資養(yǎng)老基金不投資養(yǎng)老基金不動產(chǎn)信托動產(chǎn)信托間接地投資房地產(chǎn)。這類信托規(guī)定間接地投資房地產(chǎn)。這類信托規(guī)定其投資者只能是享受其投資者只能是享受免稅待遇免稅待遇的養(yǎng)老基金和的養(yǎng)老基金和慈善團(tuán)體。慈善團(tuán)體。Charities and Trusts Charities and trusts are c

17、oncerned not only with income (from which periodic distributions are made) but also with retaining the real value of trust funds.慈善團(tuán)體和信托慈善團(tuán)體和信托 慈善團(tuán)體和信托關(guān)心的不僅僅只是慈善團(tuán)體和信托關(guān)心的不僅僅只是收益收益（定期分紅定期分紅的來源），還有保持的來源），還有保持信托基金信托基金的的實(shí)際價(jià)值。實(shí)際價(jià)值。 Property Companies Property investment and development companies have grow

18、n considerably since 1945, largely reflecting the boom in urban redevelopment.房地產(chǎn)公司房地產(chǎn)公司 房地產(chǎn)投資和開發(fā)公司房地產(chǎn)投資和開發(fā)公司在在1945年以后迅年以后迅速發(fā)展起來，這在很大程度上反映了速發(fā)展起來，這在很大程度上反映了城市再城市再開發(fā)開發(fā)的興起。的興起。Property Bond Funds The person wishing to invest in property is faced with the snag of having insufficient funds to buy prime p

19、roperty, the kind which has shown the greatest capital growth.不動產(chǎn)債券基金不動產(chǎn)債券基金 有意于不動產(chǎn)的投資者總會面臨缺乏足夠有意于不動產(chǎn)的投資者總會面臨缺乏足夠資金購買資金購買有成長潛力房產(chǎn)有成長潛力房產(chǎn)的阻礙，而正是這的阻礙，而正是這類房產(chǎn)擁有類房產(chǎn)擁有最大的資本增值能最大的資本增值能力。力。Property Unit Trusts A similar principle operates with those unit trusts which specialize in property, but in order to

20、avoid management commitments, such unit trusts use their funds to buy shares in property companies or in companies such as hotels which are concerned with property.不動產(chǎn)信托不動產(chǎn)信托 運(yùn)作原則類似于那些專注于房地產(chǎn)的信托公司，但是為了避免管理承諾，這種信托公司用它們的資金購買房地產(chǎn)公司或者像酒店這種與房地產(chǎn)有關(guān)系的公司股份。& Building Societies Building societies can be reg

21、arded as institutional investors since they are the most important source of loans for house purchase.建房互助會建房互助會 建房互助會可被視作建房互助會可被視作機(jī)構(gòu)投資者機(jī)構(gòu)投資者，因?yàn)樗?，因?yàn)樗鼈兪莻兪琴彿抠J款購房貸款最重要的來源。最重要的來源。Process of developingThe Development Concept Real estate development, like most projects, begins with a person and an idea.開發(fā)

22、構(gòu)想開發(fā)構(gòu)想 和大多數(shù)項(xiàng)目一樣，房地產(chǎn)開發(fā)始于一個人和一個構(gòu)想。 Unit 3 A Review of the Development ProcessUnit 3 A Review of the Development ProcessThe Development ConceptMarket StudySite Selection and Preliminary Feasibility StudyLand Acquisition StudyRetaining the Professional TeamFinancial Feasibility StudyObtaining Government

23、 Approvals and Refinement of the PlanMarket Study The next step is to conduct a market study to determine what type of development is in demand.市場調(diào)研市場調(diào)研 下一步就是開展市場調(diào)研，從而確定需要何種類型的開發(fā)。Site Selection and Preliminary Feasibility Study Remember the Golden Rule of Real Estate Development: those who control t

24、he land make the Golden Rules.n選址和初步可行性研究選址和初步可行性研究 請記住房地產(chǎn)開發(fā)業(yè)的金科玉律：認(rèn)地不認(rèn)人（誰控制了土地，誰就取得了主動）。 Under these circumstances, your confidence in the future success of the project will determine if you want to take the risk if buying unconditionally. 在這些情況下，你是否要冒險(xiǎn)去無條件地在這些情況下，你是否要冒險(xiǎn)去無條件地購買，取決于你對項(xiàng)目的未來是否有把握。購買，取

25、決于你對項(xiàng)目的未來是否有把握。Land Acquisition Study Once you control the land, you can take the time to conduct a more detailed assessment of the parcel.征地研究征地研究 一旦你控制了土地，你就能花時(shí)間去開展一旦你控制了土地，你就能花時(shí)間去開展更詳細(xì)的更詳細(xì)的評估評估工作。工作。Retaining the Professional Team You are looking for people with good track records in development

26、capable of meeting deadlines and budgets.聘用聘用專業(yè)團(tuán)隊(duì)專業(yè)團(tuán)隊(duì) 你要尋找在開發(fā)方面擁有優(yōu)異的你要尋找在開發(fā)方面擁有優(yōu)異的業(yè)績業(yè)績，能，能解決解決進(jìn)度和預(yù)算進(jìn)度和預(yù)算等各種難題的人才。等各種難題的人才。Financial Feasibility Study A financial feasibility study is done in conjunction with the land acquisition study, a feasibility study will provide sketches of your site and gener

27、ate financial information necessary to determine how much the job will cost and whether you can make a profit.財(cái)務(wù)可行性研究財(cái)務(wù)可行性研究 財(cái)務(wù)可行性研究財(cái)務(wù)可行性研究是在做征地研究時(shí)一起完是在做征地研究時(shí)一起完成，它為你提供成，它為你提供工地草圖工地草圖和必要的財(cái)務(wù)信息，和必要的財(cái)務(wù)信息，從而決定項(xiàng)目的預(yù)算以及是否能夠從而決定項(xiàng)目的預(yù)算以及是否能夠盈利盈利。Obtaining Government Approvals and Refinement of the Plan Zoning

28、 and subdivision approval must be obtained from the municipality.獲取政府批準(zhǔn)和計(jì)劃的精化獲取政府批準(zhǔn)和計(jì)劃的精化 必須要從必須要從市政當(dāng)局市政當(dāng)局獲取獲取城市區(qū)劃和細(xì)分規(guī)城市區(qū)劃和細(xì)分規(guī)劃的批準(zhǔn)劃的批準(zhǔn)。The Development Decision It should be clear that there are four important factors that come into play; market study, physical features, government regulations, and f

29、inancial feasibility.開發(fā)決策開發(fā)決策 應(yīng)該清楚有四種因素在起作用，它們是：應(yīng)該清楚有四種因素在起作用，它們是：市場調(diào)研的結(jié)果、物業(yè)的自然特性、政府法市場調(diào)研的結(jié)果、物業(yè)的自然特性、政府法規(guī)和財(cái)務(wù)上的可行性規(guī)和財(cái)務(wù)上的可行性。Infrastructure Development and Building Once you receive approvals and financing, you can begin the construction phase of the project.基礎(chǔ)設(shè)施開發(fā)和建設(shè)基礎(chǔ)設(shè)施開發(fā)和建設(shè) 一旦你獲得了許可，融到了足夠的資金，一旦你獲得了

30、許可，融到了足夠的資金，你就可以開始進(jìn)入你就可以開始進(jìn)入項(xiàng)目的建設(shè)階段項(xiàng)目的建設(shè)階段。Developing a Sales Program A sales and marketing program should have been developed at an early stage and continually refined.制定銷售計(jì)劃制定銷售計(jì)劃 在早期就應(yīng)該制定營銷計(jì)劃并逐漸將其完善。Sale and SettlementThe settlement is the culmination of developers efforts. Here, the lender is pa

31、id off, the buyer receives a new home, and the developer is paid.銷售和結(jié)算銷售和結(jié)算 結(jié)算結(jié)算標(biāo)志著標(biāo)志著開發(fā)商開發(fā)商大功告成。這時(shí)，大功告成。這時(shí)，貸款貸款方方獲得了回報(bào)，獲得了回報(bào)，業(yè)主業(yè)主得到了新家，開發(fā)商也得到了新家，開發(fā)商也獲取了收益。獲取了收益。Unit 4 Land Acquisition StudyOnce a potential site is located, the land acquisition study can begin. The land acquisition study can be div

32、ided into six categories:Property Inventory Environmental AnalysisUtilitiesRegional InventoryGovernment RegulationsDevelopment Decision一旦一個潛在的地址被選定，征地研究就可以開始了。征地研究可分為六類： 財(cái)產(chǎn)清單 環(huán)境分析 公用事業(yè)設(shè)施 區(qū)域清單 政府法規(guī) 開發(fā)決策These categories are themselves divided into about 40 sub categories, listed as follows:1 Property

33、Inventory1) Legal description2) Site of property3) Current use of land and income produced4) Title5) Liens6) Easements and rights of way7) Restrictions8) Assessments9) Property taxes這六大類又可大約40個小類，如下：1 財(cái)產(chǎn)清單1) 合法的界定2) 財(cái)產(chǎn)地址3) 當(dāng)前土地使用及所獲收益4) 所有權(quán)5) 抵押權(quán)6) 地役權(quán)和通行權(quán)7) 限制8) 估價(jià)9) 財(cái)產(chǎn)稅2 Environmental Analysis10)

34、Microclimate11) Water 12) Vegetation13) Topography and land survey14) Soil15) External factors (noise, odors, vistas )2 環(huán)境分析10) 微氣候11) 水12) 植被13) 地形和土地勘測14) 土壤15) 外部因素（噪音，氣味，風(fēng)景）3 Utilities16) Water17) Sewer18) Electric and gas19) Telephone and cable TV20) Solid waste disposal3 公用事業(yè)設(shè)施16) 供水17) 排水管道18

35、) 電力和煤氣19) 電話和有線電視20) 固體廢棄物處理4 Regional Inventory21) Adjoining land use22) Community facilities23) Schools24) Emergency services25) Surface transportation26) Public transportation27) Existing and proposed land uses28) Growth patterns-proposed and projected 4 區(qū)域清單21) 鄰近土地的使用22) 社區(qū)設(shè)施23) 學(xué)校24) 急救服務(wù)25)

36、地面交通26) 公共交通27) 現(xiàn)有和計(jì)劃土地用途28) 計(jì)劃發(fā)展模式5 Government Regulations29) Permits and regulations30) Zoning and subdivision regulations31) Environmental regulations32) County and municipal comprehensive plan33) Plan submission5 政府法規(guī)29) 許可和管理30) 區(qū)劃法與細(xì)分條令31) 環(huán)境法規(guī)32) 國家和城市整體規(guī)劃33) 計(jì)劃呈報(bào)6 Development Decision34) Ass

37、essment of land acquisition study35) Market analysis36) Development concept 37) Financing38) Negotiating land acquisition39) Price and conditions40) Go or fold.6 開發(fā)決策34) 征地研究的評估35) 市場分析36) 開發(fā)構(gòu)想37) 融資38) 協(xié)商征地39) 價(jià)格和條件40) 實(shí)施或者放棄Unit 5 Land Use Planning and Zoning Land can be used for farming, industry

38、, commerce, residential living, or recreation. 土地可用作農(nóng)耕，工業(yè)，商業(yè)，住宅或者娛樂等用途。 As urban area expands, it becomes important to plan the use of land rather than to let it be developed in an unplanned manner.隨著城市范圍的擴(kuò)大，有計(jì)劃地使用而不是盲目地開發(fā)土地顯得猶為重要。 It is then necessary to enforce the plan through restrictions on lan

39、d use that implemented by (a) zoning regulations and building codes and (b) requirements for starting subdivisions of residential or industrial construction.因而，總體規(guī)劃的實(shí)現(xiàn)需要借助于對土地利用的兩種限制來完成：（1）區(qū)劃法和建筑法（2）對居住區(qū)或工業(yè)區(qū)細(xì)分規(guī)劃的規(guī)范。1 Levels of Planning 規(guī)劃層次 Urban area planning takes place at the federal, regional, s

40、tate, and local levels. 城市規(guī)劃出現(xiàn)在聯(lián)邦，地區(qū)，州和本地等層次。 The Great Lakes are a collection of freshwater lakeslocated in northeastern North America, on the CanadaUnited States border.Consisting of LakesSuperior, Michigan, Huron, Erie, and Ontario, they form the largest group of freshwater lakes on Earth, contai

41、ning 21% of the worlds surface fresh water.State legislatures have also given these municipalities the right to establish planning commissions under legislation referred to as enabling acts.各州法律機(jī)構(gòu)也已授權(quán)其市、鎮(zhèn)政府部門依照實(shí)施法設(shè)立規(guī)劃委員會。 It may be either advisory or have executive responsibility, although experienc

42、e has shown that a planning commission, in order to be effective, needs the authority to enforce its decisions.規(guī)劃委員會可能是一個顧問性質(zhì)的機(jī)構(gòu)，也可能是具有執(zhí)行職能的機(jī)構(gòu)。然而經(jīng)驗(yàn)表明規(guī)劃委員會要有效實(shí)施其決策，必須得到相應(yīng)的授權(quán)。The development and implementation of the master plan require funds. Initial funds can be secured from bond issues because the

43、plan usually results in building project that increase taxable values. Thus, bond issue for master plans provide for a return through future taxes of amounts substantially higher than the original costs of the master plan.總體規(guī)劃的研擬和執(zhí)行需要資金。由于總體規(guī)劃往往會帶來房產(chǎn)項(xiàng)目，導(dǎo)致稅收增加，因此規(guī)劃的啟動資金可以通過債券的發(fā)行來籌集。這樣，為規(guī)劃而發(fā)行的債券通過未來稅收

44、的形式，帶來的回報(bào)將遠(yuǎn)遠(yuǎn)高于規(guī)劃成本。2 Purpose of Zoning Implementing the plan for an urban area depends heavily upon the power to the zone. Zoning is a means for regulating and controlling land and its use even though property is privately owned. The first real zoning ordinance was passed by New York City in 1916. T

45、otal floor area / Lot area= Floor area ratio (FAR).2 區(qū)劃的目的 一個城市規(guī)劃的執(zhí)行在很大程度上依賴于區(qū)劃的力量。區(qū)劃是管理和控制土地及其使用的一種手段，即使對于私人擁有的物業(yè)也依然如此。 紐約在1916年通過了第一部真正意義上的分區(qū)區(qū)劃法規(guī)。 總建筑面積 / 用地面積 = 容積率Unit 6 Mortgages and Financial Market All types of debt instruments are bought and sold in financial market, which is made up if two

46、components, the money market and the capital market. 金融市場由貨幣市場和資本市場兩部分組成，里面買進(jìn)賣出著各種類型的債務(wù)票據(jù)。 Corporate and consumer debts are split about evenly between the money market and the capital market, whereas mortgage market utilizes long-term instruments almost exclusively and thus is part of the capital ma

47、rket. 公司和消費(fèi)者的債務(wù)大致均衡地分布在資金市場和資本市場，抵押市場幾乎無一例外地運(yùn)用長期票據(jù)從而成為資本市場密不可分的一部分。1 Primary Mortgage Market By definition, an institutional lenders is a lender that meets two criteria: the institution accumulates deposits from individuals of businesses (such as savings accounts), pools the funds ,and reinvests the

48、 funds in real estate mortgages or other loans or securities; and the institution conforms to state andfederal regulation applicable to its charter.1 初級抵押市場 從定義來看，機(jī)構(gòu)性貸方符合兩個條件：一是機(jī)構(gòu)必須吸收個人的儲蓄，匯集資金，并把資金再投向不動產(chǎn)抵押貸款市場或其他貸款市場或證券市場；二是機(jī)構(gòu)須遵守與其營業(yè)范圍相關(guān)的州和聯(lián)邦政府的法規(guī)。2 Primary Mortgage Market Activities The primary mo

49、rtgage market deals with relationships between mortgage loan borrowers and lenders originating the loans. 2 初級抵押市場活動 初級抵押市場涉及因貸款而產(chǎn)生的抵押貸款借貸雙方之間的關(guān)系。 The term origination is sometimes used to include all activities related to bringing a loan into the lenders portfolio. The term may include only the sol

50、icitation to obtain mortgage loans and the taking of the loan application.發(fā)起這一術(shù)語有時(shí)指所有把貸款納入貸方投資項(xiàng)目范疇的活動，有時(shí)特指獲取抵押貸款和接受貸款申請。3 Secondary Mortgage Market The secondary mortgage market consists of investors, lenders, or government agencies who buy and sell mortgages originated by primary lenders.3 次級抵押市場 次

51、級抵押市場由投資者，貸方或者某些政府機(jī)構(gòu)構(gòu)成。這些政府機(jī)構(gòu)參與買賣源于初級貸方的抵押權(quán)。Loan warehousing is the borrowing of funds by a mortgage broker on a short-term basis as necessary to fund the mortgage before it is sold to an investor or in the secondary market.貸款儲備是指抵押經(jīng)紀(jì)人，在將抵押權(quán)賣給投資方或在二級市場上市之前為籌集資金而進(jìn)行的短期借款。Unit 7 Marketing Real Estate M

52、arketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. 市場營銷是對思想、貨物和服務(wù)進(jìn)行構(gòu)思、定價(jià)、促銷和分銷的計(jì)劃和實(shí)施，從而產(chǎn)生滿足個人和組織目標(biāo)的交換的過程。 The real estate broker deals both with

53、 sellers and prospective buyers of real estate. The brokers relationship with the sellers involves obtaining properties to list. 房地產(chǎn)經(jīng)紀(jì)人同房產(chǎn)的賣方和潛在買方都要打交道。他們和賣方的業(yè)務(wù)主要是將賣方的物業(yè)列入等待交易的名單。The dominant reasons that home sellers turn to real estate broker rather than trying to sell their property on their own

54、are they need technical assistance and are hesitant to take risks. 住房出售者請房地產(chǎn)經(jīng)紀(jì)人代理而不是自己操辦的主要原因，一是他們需要經(jīng)紀(jì)人的專業(yè)協(xié)助，二是他們不愿意承擔(dān)風(fēng)險(xiǎn)。Unit 8 Methods of Valuation (1)1 The Comparative Method The more uncommon a property is, and the more specialized the type of property, the less likely is it that the valuer will

55、be able to find good “comparables”. 1 比較法 物業(yè)越不一般，其類型越特殊，估價(jià)者就越難找到好的比較案例。 The skill of the valuer will be required to make an allowance in money terms for such difference in value caused by a different geographical situation. 要憑估價(jià)員的經(jīng)驗(yàn)對地理的差異引起的價(jià)值差異作價(jià)格修正。2 The Contractors Method In using the contractors

56、 method the valuer must therefore make a deduction to allow for both depreciation of the building and obsolescence of design. 2 重置成本法 在使用重置成本法時(shí)，估價(jià)員必須對建筑物磨損與式樣過時(shí)進(jìn)行折舊。Unit 9 Method of Valuation (2)1 The Residual Method The residual method (hypothetical development method ) is used when a property has

57、development or redevelopment potential.1 剩余法 當(dāng)一個物業(yè)有開發(fā)或者再開發(fā)的潛在可能時(shí)使用剩余法（假設(shè)開發(fā)法）。These may include such items as the cost of site clearance, architects fees, site engineers fees, quantity surveys fees, and all other professional fees incurred in creating the development .這些（開支）包括如下幾項(xiàng)：拆遷費(fèi)，建筑設(shè)計(jì)費(fèi)，工地工程師費(fèi)用，估

58、算師費(fèi)用以及建設(shè)開發(fā)過程中所需的其他專業(yè)人員的費(fèi)用。2 The Profits Method The profits method (accounts method, treasury method) is based on the assumption that the value of some properties will be related to the profits which can be from their use.2 利潤法 利潤法（會計(jì)法，財(cái)政法）基于一個假設(shè)：某些物業(yè)的價(jià)值與通過使用它們所產(chǎn)生的利潤相關(guān)。3 The Investment Method The inv

59、estment method (capitalization) is based on the principle that annual values and capital values are related to each other and that, given the income a property produces, or its annual value, the capital value can be found.3 收益法 收益法（資本化）基于一個原則：年金和資本價(jià)值互相關(guān)聯(lián)，因此給出一個物業(yè)所產(chǎn)生的收益也就是年金，那么資本價(jià)值也就能夠得出。Unit 10 Prop

60、erty Management1 Approaches to Property Management Property management involves a wide variety of tasks and responsibilities. The responsibilities can be handled by one of three basic approaches:1 物業(yè)管理的途徑 物業(yè)管理涉及到一系列各種各樣的任務(wù)和職責(zé)。這些職責(zé)可以通過三個基本途徑中的一個解決：A firm that deals exclusively in property management.A re