C2U9 The Buyer and the Property Showing

Question 1

Callers from a For Sale sign are likely to be:

a. satisfied with the area.
b. looking for a more expensive home.
c. satisfied with the general exterior appearance.
d. both a and c.

Answer 1

d. both a and c.

Question 2

If we compare callers from classified ads with those from For Sale signs, in general:

a. callers from signs are more likely to end up buying homes that cost less than the home they called about.
b. callers from ads are more likely to end up buying homes that cost more than the home they called about.
c. both of these are true.
d. both of these are false.

Answer 2

c. both of these are true.

Question 3

Real estate professionals should:

a. limit showing to their own listings.
b. show overpriced property first to make the one house seem a bargain.
c. avoid driving through nearby minority areas.
d. do none of these.

Answer 3

d. do none of these.

Question 4

In showing a property, you should:

a. never show a prospect more than three homes in one day.
b. show prospects a really nice home they can’t afford in order to keep up their interest.
c. never change your showing plans once you start.
d. do none of these.

Answer 4

d. do none of these.

Adjust to needs of purchaser and show properties based on needs

Question 5

The qualifying process includes discovering:

a. the buyers’ motivation.
b. the buyers’ needs and interests.
c. a down payment they can make and the amount they can finance.
d. all of these.

Answer 5

d. all of these.

Question 6

The front-end loan-qualifying ratio is the ratio of:

a. gross housing cost to gross income.
b. gross income to net income.
c. net housing cost to net income.
d. none of these.

Answer 6

a. gross housing cost to gross income.

Question 7

The back-end qualifying ratio refers to the ratio of:

a. gross housing cost to gross income.
b. total housing expense plus long-term debt to gross income.
c. gross income to net income plus housing cost.
d. none of these.

Answer 7

b. total housing expense plus long-term debt to gross income.

Question 8

A good policy for a professional real estate salesperson would be to:

a. meet new prospects at the nicest property you think will interest them.
b. avoid discussing financial matters until an offer is received.
c. ask open-ended questions of prospective buyers.
d. limit appointments to the showing of no more than two properties.

Answer 8

c. ask open-ended questions of prospective buyers.

You need info to sell, and open-ended questions elicit information

Question 9

For personal safety concerns, you should:

a. meet prospects at your office.
b. avoid ostentatious jewelry or accessories.
c. leave front doors unlocked at showing.
d. do all of these.

Answer 9

d. do all of these.

Question 10

If another agent is showing a home when you arrive for a showing, what should you do?

a. Bring your prospects in and let them know they are competing with other buyers for the house.
b. Cross the house off your showing list until you are sure it has not been sold.
c. Wait inconspicuously until the other agent completes his or her showing and leaves.
d. Tell your client that you are certain that the other prospects are buyers so they had better act fast.

Answer 10

c. Wait inconspicuously until the other agent completes his or her showing and leaves.