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chp 7 second class > chp 10 > Flashcards

chp 10 Flashcards

1
Q

A real estate professional should focus on selling their services…?
AT (True)
BF (False)

A

true

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2
Q

Sales involves which of the following…?
ATrial and error
BForce
CPersuasion
DTenacity

A

Persuasion

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3
Q

This personality type often demands that the agent education the buyer…?
AThe analytical personality type
BThe impulsive personality type
CThe friendly personality type
DThe quiet personality type

A

The impulsive personality type

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4
Q

An impulsive buyer tends to make quick decisions…?
AT (True)
BF (False)

A

true

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5
Q

Which of the following personality types typically wants to know the details of the deal…?
AThe quiet personality type
BThe suspicious personality type
CThe analytical personality type
DThe impulsive personality type

A

the analytical personality type

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6
Q

Buying a home is riskier than renting a home…?
AT (True)
BF (False)

A

true

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7
Q

Which if the following is a disadvantage of owning a home…?
AAppreciation
BIncreased expenses
CTax deductions
DAll of the above

A

all of the above

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8
Q

Real estate is a liquid asset…?
AT (True)
BF (False)

A

false

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9
Q

Which of the following should agents know about their target market…?
APopular local restaurants
BSchools in the neighborhood
CNeighborhood amenities
DAll of the above

A

all of the above

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10
Q

Which of the following is an example of a customer type a real estate agent may experience in their practice…?
AA silent prospect
BAn impulsive prospect
CAn analytical prospect
DAll of the above

A

all of the above

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11
Q

When should an agent follow-up with a buyer to begin the closing process…?
AWhen the agent receives a buying signal from the buyer
BWhen the agent learns about the buyer’s negative motivations
CWhen the agent learns about the buyer’s emotional motivations for buying
DAfter the agent shows 3 properties to the buyer

A

when the receives a buying signal from the buyer

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12
Q

Renting a home offers more responsibility compared to owning a home…?
AT (True)
BF (False)

A

false

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13
Q

A real estate agent should focus on educating their clients rather than selling to their client…?
AT (True)
BF (False)

A

true

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14
Q

Most offers by a buyer get accepted by the seller…?
AT (True)
BF (False)

A

false

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15
Q

Which of the following can an agent do to appeal to a buyer’s sense of sight…?
APoint out the quiet neighborhood
BPoint out the great views
CPoint out the tax benefits of owning a home
DAll of the above

A

point out the great views

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16
Q

Once a buyer’s offer is accepted, their deposit is non-refundable…?
AT (True)
BF (False)

A

false

17
Q

Objections from the buyer are an indication that the buyer is not serious about buying…?
AT (True)
BF (False)

A

false

18
Q

A buyer may back out of a purchase contract during what period..?
AThe closing period
BThe escrow period
CThe inspection period
DThe survey period

A

the inspection period

19
Q

What should a buyer be prepared to do after making an offer on a house…?
AMake a down payment
BConduct a home inspection
CSurvey the property
DConduct a title search on the property

A

make a down payment

20
Q

A buyer typically pays what amount in earnest money…?
A1 percent (%) of the purchase price
B2 percent (%) of the purchase price
C3 percent (%) of the purchase price
D6 percent (%) of the purchase price

A

1 percent of the purchase price

21
Q

What is typically used as the escrow instructions for a transaction…?
AThe listing contract
BThe buyer representation agreement
CThe escrow agreement
DThe purchase contract

A

the purchase contract

22
Q

Which of the following is a common contingency utilized in a purchase contract…?
ASurvey contingency
BEscrow contingency
CLoan contingency
DClosing contingency

A

loan contingency

23
Q

An appraisal contingency is often found in residential purchase contracts…?
AT (True)
BF (False)

A

true

24
Q

Buyers and sellers are always open to solicitation…?
AT (True)
BF (False)

A

false

25
Q

What types of questions should be asked to buyers who have a quiet personality…?
AFrivolous questions
BClosed questions
CLimited questions
DOpen-ended questions

A

open and ended questions

26
Q

Which of the following is an example of an open-ended question…?
ADo you like this house?
BIs this a neighborhood you would like to live in?
CWhat do you think of the house?
DWhat size property are you looking for?

A

what do you think of the house

27
Q

Which of the following can be done to get a client to open up more about their needs and desires…?
ARecite facts about a property
BAsk open-ended questions
CTell the client more about yourself
DAll of the above

A

ask open ended questions

28
Q

Which of the following can be done to better relate to a client…?
AAsk many questions
BTell the client more about yourself
CModel the client’s personality type
DAll of the above

A

model the client personality type

29
Q

What can an agent do to establish a better rapport with a buyer who has an aggressive personality type…?
AAgree with the buyer
BAsk open-ended questions
CTell the buyer more about themselves
DAll of the above

A

agree with the buyer

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