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10 Cards in this Set
- Front
- Back
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Agent Kalliwaki spends one hour every day calling 20 homeowners to ask if they are interested in selling their homes. This practice is known as: |
Cold calling is an unsolicited inquiry, usually by phone, made to a home-owner in order to obtain a listing |
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Which of the following may be used in a competitive market analysis? |
Recently sold listings, current listings, and expired listings are all used in a CMA |
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A homeowner wants to list his property for $245,900. The agent informs the homeowner that five similar homes have recently sold for around $235,000, there are five similar homes currently listed for around $239,000, and two similar, recently expired listings were priced at around $244,000. Which of the following statements is true? |
All of the options are true. Recent sales always provide the best indicators of value, and recently expired listings are likely to have been priced too high |
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A broker is advertising a client's property for sale, but neglects to include a license designation in the ad. The broker: |
A broker advertising property other than his own must include a licensee designation; if the ad does not include his information, it will be considered a blind ad, which is a violation of the license law |
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The following ad is placed in a local newspaper: "Fixer-upper going cheap. Two-bedroom, one-bathroom. Good foundation and plumbing, but needs a lot of TLC. Seller offers financing with small downpayment." This ad: |
the ad complies with the Truth in Lending Act as no trigger terms are used |
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Open houses: |
People who walk into open houses rarely buy that particular home, but they are often interested in having the agent show them other homes |
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Agent Brown receives two offers on the same house in the same hour. One other is full price; the other is $25,000 below the listing price. |
Both offers must be submitted to the seller immediately. It is up to the seller to decide which offer to accept, not the agent |
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Now that the Knolls' last child has gone off to college, they are looking for a smaller house with easier upkeep. they can afford a significant downpayment using the equity from their current house. The Knolls would be considered: |
The Knolls would be considered empty-nesters, since their children have moved out and they are looking for a smaller, easier-to-maintain property |
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Which of the following is not a safety precaution that agents should take? |
To be safe, agents should request that clients meet them at the broker's office first, rather than at an empty house |
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Which of the following activities should an unlicensed real estate assistant not perform? |
An unlicensed real estate assistant should not answer questions about financing; this should be done only by licenses |
