SU # 15__Listing - Seller & Property Qualification Flashcards
List three tasks that a licensee might do prior to having a listing meeting with a prospective seller.
Become familiar with the neighborhood.
Prepare a comparative market analysis (CMA) to share with the sellers.
Take the time to view the outside of the potential client’s home and evaluate the curb appeal.
Under what circumstances does asbestos become harmful?
when it becomes old and starts to disintegrate or during a remodeling project when it is damaged or removed.
What should a licensee tell his or her sellers that buyers’ agents will be telling prospective buyers about the well on the property?
Agents will advise prospective buyers to have the water tested by a health or private laboratory at least once a year to check for contamination. If a well becomes contaminated, the new owners may need to have a new well dug.
Agent Tim knows that a home he is listing has had water problems in the basement. What responsibility does he have since he has this knowledge?
Tim should disclose any knowledge of flooding or water damage to potential buyers, since water damage can start mold growing, often in places where it can’t readily be seen.
Which of these environmental hazards is specifically addressed in the Residential Real Property Disclosure Report?
Carbon monoxide
Mold
Urea Formaldehyde
Illegal methamphetamine manufacturing
Illegal methamphetamine manufacturing
For which geological hazard would disclosure to a potential buyer be mostly ineffective?
Landslide
Flood
Earthquake
Subsidence
Earthquake
In which of these places is asbestos not likely to be found?
Roofing
Drywall
Textured paint
Vinyl floor tiles
Drywall
Which statement is FALSE?
Mold often grows where it can’t be seen.
Radon is an odorless, colorless gas.
Underground storage tanks pose no hazard to residential areas.
Urea formaldehyde foam insulation is no longer used.
Underground storage tanks pose no hazard to residential areas.
Broker Sandra accepted a listing for a home. A week later the owner told her that he was not willing to sell to an African-American person or family. Which of the following is true?
Sandra should abide by the owner’s wishes.
She should restrict her advertising to venues that cater to the African-American community.
Sandra should explain to the owner that the request is in violation of Fair Housing law and she cannot abide by it.
She should have the owner document the request in writing and file it with the listing agreement.
Sandra should explain to the owner that the request is in violation of Fair Housing law and she cannot abide by it.
Which piece of information about a property would be the least helpful for a licensee to collect?
Company that writes the homeowner’s policy
Zoning information
Neighborhood amenities
Improvements to the property
Company that writes the homeowner’s policy
