Unit 1 (sec 2)
When finding listings which statement describes the referral approach?
Contracting prospective clients through previous clients, co-workers, networks, etc
What's the best strategy for pricing a home?
Prepare a detailed comparative market analysis and base the price on recent comparable sales.
Emily received Gerth's name through a previous client whose home she sold. This is an example of _____
A referral
When using a farming approach affinity is a key factor when determining or identifying a neighborhood. Which statement best describes affinity?
An area that the licensee likes
When using the farming approach turnover is a key factor when identifying a neighborhood which statement best describes turnover?
An area with a fair amount of listings - not too many not too few
When you're putting together a listing presentation which of these is a key point to address?
Buyers won't pay more for a home than the market dictates
Tiffany just obtained a list of all of the homeowners in an area. She checked the number to make sure they're not the do not call registry. Then starts making calls to see if they or anyone they know is interested in selling their home. What method is this?
Cold calling
A licensee has several tasks to perform for seller clients. One of these tasks is to______
Communicate all offers and counter -offers to the sellers
If after seeing your carefully prepared comparative market analysis a seller doesn't agree with the price range you prepared in your listing presentation your best practice would be to __________
Decline the listing if the sellers price and your price analysis are too far apart
Which of the following tasks must licensees perform for seller clients?
Ensure the collection of the earnest money deposit from the buyer
Contacting homeowners whose listings contacts have ended without a sale describes the ____ approach to finding listings.
Expired listings
Cloosing a neighborhood and concentrating real estate activities there is an example of __________ approach to finding listings.
Farming
When finding listings which statement describes the owner sales approach?
Identifying properties being sold by owners and persuading them to list with a licensee
Which one of the following tasks must a licensee perform for seller clients?
Inform sellers of their responsibility to make all required property condition disclosures.
Getting the best price is always a factor for a seller but the ____ that it's actually would sell for must be another consideration
Market price
Why should you know when the seller can vacate the property?
Of a buyer wants to close before the seller can vacate, the seller may need to rent it back from the buyer
Identifying properties being sold by owners and persuading them to list with a licensee describes the ______________ approach to finding listings
Owner sales
Micheal seours the local newspaper looking for homes for sale without real estate professional representation. This isn't because he wants to buy the house but because he wants to represent the seller. What approach is this?
Owners sales
Contacting prospective clients through previous clients co-workers and networks describes the ________________ approach to finding listings.
Referral
What responsibility does the sellers agent have to the seller?
Seek a sale at the best price at terms acceptable to the seller
Which of the following factors should be considered when determining an acceptable sales price?
Sellers Lon payoff amount
Ned represents Sofia in the sale of her townhome. Lucianna represnts Sofia's buyer, Arturo. What is Sofia's relationship to Lucianna?
Sofia is Lucianna's customer
Why should you have a conversion about financing for the property with the seller before you sign the listing agreement?
Some sellers can't accept or won't qualify to accept certain types of financing such as FHA or VA loans - so you should know that upfront.
After a few meetings the Stinsons sign a listing agreement with broker Vera so she can sell their home. The house had already generated interest from a potential buyer named Sergei, who has spoken with Vera about the houses square footage and potential as an investment. Which of the following is true about the situation?
The Stinsons and Vera have a agency agreement
When a licensee represents a seller which one of the following statements is true about the licensee's ability to list other properties that are for sale?
The licensee is permitted to list other properties for sale even if they're competing properties
In a seller agency relationship whom does the licensee represent?
The seller
Randy a licensee is in a seller agency relationship with Brent a seller. The buyer is Tim who's Randy's client?
The seller (Brent)
Anya a real estate licensee asks her sellers why they want to sell their property. Is this an appropriate question?
Yes, because she needs to know their motivations to do her job properly
After you've made a professional listing presentation and the seller had declined to use you as a listing agent, what's the best practice?
You should accept their outcomes either way.
Which of the following statements is true about the listing presentation?
You should go into ghe presentation fully prepared with a comparative market analysis, listing agreement, mls listings of comparable properties, and your plan for marketing the sellers property.