Real Estate Practice Ch. 9 Quiz
Neither, you must mention this to a prospective buyer nor failure to mention the presence of the group would make you liable for any damaged the buyer suffered. (It should not matter. Mentioning it could be steering, page 411)
If members of a minority racial or ethnic group live in the neighborhood of a home you are showing: Failure to mention the presence of the group would make you liable for any damages the buyer suffered. Both, you must mention this to a prospective buyer and failure to mention the presence of the group would make you liable for any damages the buyer suffered. You must mention this to a prospective buyer. Neither, you must mention this to a prospective buyer nor failure to mention the presence of the group would make you liable for any damaged the buyer suffered.
The caller may want a lower-priced property. (They like it and hope they can afford it, page 383)
Telephone responses from a For Sale sign indicate what about the prospective buyer? The caller may want a lower-priced property. The caller can afford the home and area or they would not have called. If the price quoted is too high, you can be sure the caller will let the agent know. None of these.
Total monthly housing expenses plus monthly long-term credit obligations divided by gross monthly income. (Usually 36 percent for qualifying, page 397)
The back-end ratio is the: The monthly gross income divided by the amount to be financed. Total monthly housing expenses plus monthly long-term credit obligations divided by gross monthly income. Ratio of current rental costs to estimated housing costs. Ratio of net income to PITI.
The total monthly housing payment divided by the gross monthly income. (Usually 28 percent for qualifying, page 397)
The front-end ratio is: The total dollar costs to take possession. The total monthly housing payment divided by the gross monthly income. The down payment divided by the purchase price. None of these.
Say, "Would it be all right if I sent you some information and photos of that property and several others?" (It is not threatening and most will agree, page 388)
When a caller won't give a name, the best approach would be: Say, "Would it be all right if I sent you some information and photos of that property and several others?" Say, "I'm sorry; office policy prohibits me from discussing any properties if I don't know with whom I am talking." Say, "I will give you the address if you give me your name." Hang up.
Wait to show the property until the other agent has left. (Common courtesy, page 418)
When arriving at a property for a showing, if another agent is showing the property, you should: Wait to show the property until the other agent has left. Ignore the other agent and go ahead with your showing. Introduce yourself and your buyers to the other agent and go ahead with your showing. Tell your prospects that they had better act fast as you are sure the other party wants to but the house.
Show unoccupied property first to give owner-occupants a chance to prepare for the showing. (And get buyer reactions which might alter showings, page 410-411)
When showing a property to a prospective buyer, the agent should: Show buyers homes they cannot afford to impress them with the caliber of homes to which the agent has access. Show unoccupied property first to give owner-occupants a chance to prepare for the showing. Show the prospective buyers homes they have listings for in order to please the owners of those listings. Have a hard and fast rule to never show more than three properties.
Do all of these. (These are all good pieces of advice, page 415-416)
When showing property, an agent should: Allow the prospective buyers to bring along a friend and confidant. Allow buyers a chance to confer without the agent being present. Try to overcome objections raised. Do all of these
Both is satisfied with the general appearance of the home and is satisfied with the area. (But the caller might not be able to afford the property, page 383)
When you receive For Sale sign inquiries you can assume that the caller: Is satisfied with the area. Is satisfied with the general appearance of the home. Neither is satisfied with the general appearance of the home nor is satisfied with the area. Both is satisfied with the general appearance of the home and is satisfied with the area.
"This is an exceptionally large kitchen, isn't it?" (You get a serious of "yes" answers, page 415)
Which of the following is an example of a tie-down? "Can you afford this house?" "What would you use this pantry for?" "This is an exceptionally large kitchen, isn't it?" "Would you prefer to buy now or think it over?"
