CH.9

Which of the following can affect how a seller prices her home?

- A pending nasty divorce - A looming foreclosure on the property - A sharp downturn in the market combined with a need to sell quickly Correct! All of the above

A complete CMA will include all of the following except

- Correct: Properties sold in the neighborhood for the past year. - The sold properties for the last six months. - Expired listings for the past six months to one year. - currently listed properties in the neighborhood

Every seller who puts her property on the market is interested in

- How much money will I net from the sale of my property. - How soon will I get my money. - What is the highest asking price in the neighborhood. Correct! Both a and

Since the only two things a licensee has to sell are her time and knowledgegoing on a listing presentation without being fully prepared is the same as

- Showing a seller you have nothing to sell - Proving your lack of value to a seller - Asking the seller to question your credibility Correct! All of the above.

A licensee should never price a property according to

- The sellers need to cover their loan. - Other listings in the area. - What the sellers want to net from the sale. Correct! All of the above.

A licensees marketing and advertising plan should include all of the following except

A statement that the property is nearing foreclosure.

A licensee should never do which of the following when creating a CMA?

Base the sellers list price on what is currently for sale in the area.

The only way to ensure that you are in control at a listing presentation is to

Be prepared with current and accurate market knowledge.

The price per square foot is the principle tool of comparison in a CMA.

False

The acronym CMA stands for comparable market analysis.

False: Stands for: COMPARATIVE Market Analysis

Amenities such as upgrades, view, lot size and location have little value inanalyzing comparable sales data for a CMA.

False

Currently active listings are the most accurate comparable for estimatingthe value of a home.

False

In a HOT market, a licensee would normally price a well-cared for home

Slightly on the aggressive side of market value.

A licensee should always consider which of the following when analyzingthe value of a property?

The date of sale of the comparable properties used in the analysis.

A thorough search of the MLS database for comps is among the most important steps to creating an accurate CMA.

True

A well-done listing presentation manual may give a licensee an edge ingetting a listing when sellers interview multiple licensees.

True

Being fully prepared for a listing presentation gives a licensee personalSelf-confidence and credibility with the sellers.

True

Expired listings should serve as an indicator of how not to price a home.

True

Market conditions may have a significant effect on the final list price andsale price of a home.

True

Preparation is the key to a successful listing presentation.

True