Chapter 1: Assignment Flashcards
Which of the following is NOT a potential consequence of an unrealistic listing price?
Having a record of unrealistically priced listings will encourage salespeople to want to join the brokerage.
Which of the following statements is true with respect to “stigmatized properties”?
Provided the stigma is not material to the transaction, the seller may choose not to disclose their knowledge of the stigma.
Which of the following lists all five of the main areas that buyers and sellers must agree on in every real estate transaction?
Contingencies, Price, Terms, Extras, Possession
Which of the following statements does NOT represent an aspect of qualifying the buyer?
Asking yourself whether you will be paid commission for accepting the listing.
What is the purpose of a “sellers net proceeds sheet” ?
A tool to help the seller understand what the likely financial balance will be at the completion of the sale.
Prospecting for listings is the act of ________________?
Identifying people who might need your professional services, including people with present needs and those with future needs.
You are the listing salesperson for a property and have just conducted a well-attended open house. You
feel there is great interest in the property and your feelings are confirmed when multiple offers are
received from buyer’s agents over the course of the next few days. Furthermore, a number of buyers
agents who attended the open house with their clients have contacted you to inform you that an offer, while not yet provided, will be forthcoming. Which of the following statements represents how you should approach this situation? (Assume there is no dual agency involved in this circumstance.)
Discuss with the seller whether they want you to inform the agents of the buyers of the existence of multiple offers and/or the terms contained within the offers received. Inform the seller of the ramifications of disclosing the existence of multiple offers, and how it may be the sellers advantage or disadvantage to disclose.
Which of the following statements is TRUE with respect to promotion and advertising?
The goal of promotion and advertising is to attract prospective buyers that would be interested in the property’s features and price point.
Which of the following statements is TRUE regarding attached and unattached goods?
Some items that have both “attached” and “unattached” components should be categorized.
Which of the following statements is TRUE with respect to the listing of a property?
The salesperson should have a thorough knowledge of the property, including knowledge of the neighborhood, the seller, and the sellers reason and urgency to sell.
