Chapter 2

Question 1

AIDA - Attention, Interest, Desire, and Actions

Answer 1

a time-tested, step by step method used in writing ads; this formula gets the job done

Question 2

Classified Ads

Answer 2

this type of newspaper ad is designed to advertise a specific property and enjoys high readership among those looking for low and medium priced housing

Question 3

Comparative Market Analysis (CMA)

Answer 3

data analysis that gives the sellers a price range for their home by comparing it to similar homes that have recently sold

Question 4

Consumer Finance Protection Bureau (CFPB)

Answer 4

advertising of real estate credit terms is under this federal organizations jurisdiction

Question 5

Direct mail

Answer 5

type of advertising that is sent using the US postal service

Question 6

Door hangers

Answer 6

this type of business promotion fits on front door handles or can be attached by rubber band

Question 7

FSBOs, For sale by owners

Answer 7

when an owner tries to sell his own property

Question 8

geographical farm

Answer 8

a neighborhood in which a real estate agent “cultivates” new clients by contacting its residents up to 12 times a year in order to update them on real estate activities and values

Question 9

newspapers (print and online)

Answer 9

often considered the most effective way to advertise homes and your brokerage to the public on a daily or weekly basis

Question 10

open house

Answer 10

a planned set of hours during which a property for sale is held open for public viewing

Question 11

public relations

Answer 11

taking advantage of free press coverage to promote your firm, especially when someone in your organization has made some admirable social contribution that benefits the community, such as organizing or attending a philanthropic event

Question 12

referrals

Answer 12

potential clients received through the agents good will and treatment of current clients

Question 13

staging (furniture placement)

Answer 13

maximizing first impressions and preparing your home for showing and open houses by moving furniture and dressing up the home

Question 14

statement of identification

Answer 14

a form used by title companies that is filled out by buyers and sellers to verify their identities

Question 15

traffic sheet

Answer 15

an informative analytical tool that logs in daily calls that specifically gives you a daily historical review of how effectively your brokerage is advertising and includes important caller data