Servicing the Listing Flashcards
The reason most often cited by owners who have been unhappy with the agent who took the listing on their property is
(a) failure of the agent to secure a buyer.
(b) failure of the other agents in the listing agent’s office to show the property.
(c) failure of the agent to price the property correctly.
(d) failure of the agent to communicate with them after the listing is signed.
(d) failure of the agent to communicate with them after the listing is signed.
Even though sellers appreciate weekly activity reports, some agents would rather make monthly reports because
(a) it is much less work.
(b) . owners don’t usually mind waiting that long.
(c) they typically show more activity.
(d) no news is better than bad news.
(c) they typically show more activity.
You should provide owners with a weekly activity report. Some agents would rather make monthly reports simply because they show more activity.
One way to make the owners feel they are more involved in your marketing effort is to
(a) have them complete a neighborhood information report.
(b) have them hold their own open house.
(c) make sure they are present at property showings.
(d) invite them to attend an office meeting.
(a) have them complete a neighborhood information report.
To help gather information on a property and to make the necessary disclosures to prospective buyers, you should obtain a property profile from a title company. A property profile could reveal
(a) natural hazard risks such as potential flooding or fire hazard.
(b) problems of record that might make a sale difficult or even impossible.
(c) structural defects that would not be discovered from a visual inspection.
(d) off-record disputes between property owners.
(b) problems of record that might make a sale difficult or even impossible.
If you made an error in your assessment of the property value and listed the property too high,
(a) defend your position at all costs.
(b) immediately suggest that the price be lowered.
(c) let the owners know at once and suggest a modification or adjustment to the price.
(d) offer to lower your fee to offset the lower price.
(c) let the owners know at once and suggest a modification or adjustment to the price.
To help improve your chance of obtaining a listing extension,
(a) let the owners call you to find out what is happening.
(b) call the owners on the phone and debrief them as to your efforts to sell the property.
(c) write the owners an extension request letter.
(d) several weeks before your listing expires, schedule a meeting with the owners to discuss what you have been doing on their behalf.
(d) several weeks before your listing expires, schedule a meeting with the owners to discuss what you have been doing on their behalf.
A rider strip on a for sale sign provides prospective buyers with
(a) . an easily removable fact sheet on the property.
(b) information or features not evident from the exterior of the property.
(c) an audio message explaining the unique features of the property.
(d) the listing price that is easy to read while riding by.
(b) information or features not evident from the exterior of the property.
Before installing a lockbox on the property, owners should
(a) understand that allowing other people access to their home presents a security risk.
(b) check their insurance policy to make sure it covers theft of personal property.
(c) remove or lock up expensive objects from the premises.
(d) all of the above.
(d) all of the above.
An MLS commission split was 50/50. The listing broker received 50 percent of the commission, and the selling brokerage that found the buyer gets 50 percent. The selling broker’s policy is to split his share of the commission 50/50 with the salesperson that presented the offer. The salesperson’s share of the total commission is
(a) 50 percent.
(b) 25 percent.
(c) 10 percent.
(d) 5 percent.
(b) 25 percent.
A one-page advertising flyer about the property pointing out desirable features is called a
(a) property profile.
(b) property handout.
(c) property brief.
(d) property data sheet.
(c) property brief.
In addition to exposing the property to a large number of agents with prospective buyers, office and MLS caravans also provide valuable feedback on the property through
(a) foot traffic pattern analysis.
(b) maximum parking testing.
(c) agent property evaluation questionnaires.
(d) curb appeal analysis.
(c) agent property evaluation questionnaires.
A letter sent within one week of taking a new listing to residents living within one block of the listed property as part of an agent’s marketing is called a(n)
(a) neighborhood courtesy letter.
(b) area canvass letter.
(c) traffic warning letter.
(d) neighbor showing invitation.
(b) area canvass letter.
The best results can be expected from an open house that is
(a) priced correctly.
(b) recently listed.
(c) both (a) and (b) are correct.
(d) messy.
(c) both (a) and (b) are correct.
Which of the following is the most commonly cited reason, cited by owners, for not renewing listings?:
(a) the price was too high.
(b) the commission was too high.
(c) lack of communication from the agent.
(d) the condition of the property.
(c) lack of communication from the agent.
Good homeowner hints for a successful sale should include all of the following EXCEPT:
(a) make up beds early in the day.
(b) following the agent during the property showing and provide information to the prospective buyers.
(c) make needed repairs.
(d) avoid cooking with foods having strong and lasting odors.
(b) following the agent during the property showing and provide information to the prospective buyers.
