C2U4 Prospecting and Business Development

Question 1

The CAN-SPAM Act puts controls on unsolicited:

a. fax messages.
b. misleading emails.
c. residential phone calls.
d. real estate assistants.

Answer 1

b. misleading emails.

Question 2

You may legally pay a referral fee to an unlicensed person who:

a. shows listings to prospective buyers.
b. assists in sale negotiations.
c. introduces a prospective buyer to a broker.
d. tells buyers about the beneficial property features.

Answer 2

c. introduces a prospective buyer to a broker.

Question 3

Direct mail solicitation for listings is more effective if you:

a. use widow envelopes.
b. use a mailing machine and bulk rate.
c. use mailing labels.
d. indicate you will be contact them.

Answer 3

d. indicate you will be contacting them.

Question 4

Under do-not-call regulations, which call would be improper?

a. Calling for survey purposes
b. A call to a business phone
c. A call within three months of an inquiry
d. A call on a For Sale by Owner ad to solicit a sale listing

Answer 4

a. Calling for survey purposes

Question 5

Which classified ad category is likely to provide listing leads?

a. Homes for rent
b. Leases/options to purchase
c. Mobile homes for rent
d. All of these

Answer 5

d. All of these

Question 6

Legal notices provide good leads for listings. Which is NOT a legal notice?

a. Eviction
b. Foreclosure
c. Probate
d. Vacancy

Answer 6

d. Vacancy

Question 7

Which would be an indication that an owner might be interested in selling an income property?

a. A high vacancy rate
b. Tenant evictions
c. Code violations
d. All of these

Answer 7

d. All of these

Question 8

Endless chain refers to:

a. the long-term effects of advertising.
b. obtaining additional prospects from every lead.
c. the fact that your buyer will eventually become a seller.
d. the fact that most buyers are sellers and sellers are buyers.

Answer 8

b. obtaining additional prospects from every lead.

Question 9

The term farming as used in real estate refers to:

a. determining what your market area will be.
b. operation by season, such as a listing season, open house season, selling season, and so forth.
c. specialization in a particular field of real estate activity.
d. working or prospecting a geographic area or special interest area for buyers and sellers.

Answer 9

d. working or prospecting a geographic area or special interest area for buyers and sellers.

Question 10

An example of a nongeographic farm would be specialization in:

a. mobile homes.
b. income property.
c. lots.
d. any of these.

Answer 10

d. any of these (or c lots)