Real Estate Practice, Edition 9, Chapter 10 Quiz

If a prospective buyer intends to occupy a single-family home as a residence, the agent should realize this fact could have a direct bearing on

damages, should the buyer default. (Liquidated damages are limited by law).

For effective communication it is BEST to

provide sufficient facts so the receivers can form valid conclusions. (You should be selling the benefits so they are understood).

Motives for buying include

all of these. Comfort and convenience. Health. Love of family. (They vary among buyers).

Disadvantages of home-ownership include all of the following EXCEPT

appreciation. (This is a significant benefit).

When dealing with a prospect who is silent, the BEST approach would be to

ask leading questions. (Find out what prospect thinks).

A sale would MOST likely be killed by

being over-eager to close. (Buyers resist pressure before they are ready).

An example of a closed-ended question, would be

"Isn't this a large living room?" (Can be answered with a "yes" or "no.")

An example of an open-ended question would be

"What do you like about this neighborhood?" (You want an explanation, not "yes" or "no" answers).

Which of the following should an agent regard as a buying signal?

All of these. A reluctance to leave a property. An inquiry as to when possession would be possible. he statement, "The price seems a little high." (These are words or actions indicating an interest).

In meeting a buyer's objections the agent should consider

All of these. Welcoming the objections. Conceding before answering. Meeting objections half-way. (These show that you understand the buyer's concerns).