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Free RES exam notes · Lesson 1B

Lesson 1B: Real Estate Market & Characteristics notes

Demand and supply, the property cycle, market players and GLS, what makes real estate different, REITs and market data. Read the notes or flip through the cards, then test yourself.

This chapter explains how property prices are set, who the main players are, how the market moves through cycles, and what makes real estate different from other assets. Most questions test whether you can tell a cause from its effect, and whether a change affects buyers or sellers.

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Our own summary. Figures checked against official sources on 2 October 2026.

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