working with sellers

Question 1

An ‘Exclusive Right to Sell Listing Contract’ is used to do which of the following:

Answer 1

Form an agency relationship or intermediary with the seller

Question 2

Agents and Brokers prepare this document for their clients to help them determine a price to list when selling a home or to get a price when buying a home.

Answer 2

Comparative Market Analysis

Question 3

This is essentially a less-sophisticated version of a formal professional appraisal

Answer 3

Comparative Market Analysis

Question 4

While not an appraisal the real estate agent uses a great deal of similar practices and methods that an appraiser would in creating one.

Answer 4

Comparative Market Analysis

Question 5

An ‘Exclusive Right to Sell Listing Contract’ can be used for the following agency relationships:

Answer 5

Seller’s Agency

Question 6

A seller instructs his agent to lower the price of a home by $5000. The agent disagrees with the seller’s choice and does not change the price. This agent has gone against his duty of:

Answer 6

Obedience

Question 7

If there is a low absorption rate in an area, a home normally priced at $250,000 might be changed to which of the following:

Answer 7

$240,000