Elements of Value (DUST)
The four things a property needs to have value: demand, utility, scarcity, and transferability, remembered as DUST.
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What does Elements of Value (DUST) mean on the Texas real estate exam?
Answer: The four things a property needs to have value: demand, utility, scarcity, and transferability, remembered as DUST.
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Elements of Value (DUST) definition
For a property to have market value, four elements must be present: Demand, the desire and ability to buy; Utility, the usefulness of the property; Scarcity, a limited supply; and Transferability, the ability to convey ownership. The acronym is DUST.
If any one element is missing, the property has no market value, regardless of its other qualities.
Source basis
Definition checked against the official sources below on .
On the exam
Exam trap
Tested in
Value & Appraisal (11 of 80 National)
From definition to recall
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