PAPER 2026 QUESTIONS WITH ANSWERS
GRADED A+
◉ Power Prospecting. Answer: Setting high-income goals requires a
commitment to prospect. The three keys to prospecting success are
as follows:
Numbers
Consistency
Organization
◉ Numbers. Answer: The difference between making a living and
becoming a real estate sales superstar is numbers. Following these
tips will help you become a successful prospector:
-Follow all laws when prospecting, paying particular attention to the
National Do Not Call Registry.
-A cross-reference directory can give you information on area
residents and businesses. Cross-reference directories are arranged
by street addresses and numerically by phone number. Listings
arranged by street addresses allow you to find all the residents and
businesses on a particular street in sequence. Listings arranged by
phone number allow you to find all the numbers and names for a
particular area code and exchange. The product is available in print,
online, or on CD. An annual subscription (costing from $150 to $400,
depending on the location) will give current information, and can
,filter out phone numbers that appear on the National Do Not Call
Registry
◉ The amounts shown won't magically work for every sales
associate, but they do depend on the following two assumptions:.
Answer: -The sales associate likes people and is articulate and
organized.
-The sales associate has finished training and knows how to:
prepare a CMA,
make an effective listing presentation,
show properties,
ask closing questions,
and ask for the order.
◉ turnover rate for a neighborhood. Answer: dividing the number of
homes sold last year by the number of homes in the neighborhood.
◉ Your Leads Database. Answer: First, set up a customer
relationship manager (CRM) database. There are many programs
available, including Microsoft Outlook, Salesforce, and Top Producer.
five database categories:
Close friends and family
Friends
,Customers
Acquaintances
Targeted strangers
◉ Acquaintances. Answer: people we've met or spoken to by phone
but don't know well. We will develop this group into a powerhouse
of direct and referral business. One of the major objectives of our
prospecting efforts is to move as many targeted strangers to this
category as possible.
combination of contacts with this group using mail and telephone at
least twice monthly.
◉ targeted strangers. Answer: Persons not known to a licensee who
are qualified as prospects by income, occupation, or residence
address.
largest group in your database
◉ seven important points to remember when you are prospecting:.
Answer: -Success is in the numbers. Be confident that this process
will result in much higher income levels. You will discover a strong
correlation between your prospecting and the number of
transactions you make. When you discover what your personal
ratios are, you will find it easy to better control your income levels
, by your daily prospecting. If you get $3,000 extra income, on
average, from every 100 contacts you make, you should assume that
by making 1,000 additional contacts (20 per week) you can increase
your income by $30,000.
-Be consistent. Make your contacts at the same time every day. Stick
to the schedule, but if a closing or an appointment is unavoidably
scheduled, make sure the prospecting time is rescheduled for later
in the day. It's like a diet; you might get off track, but success will
come only if you get back to the plan.
-Call at your best time of day. Some of us are great in the morning.
Others are a little grumpy and should set a later prospecting time.
Just be sure you have a high energy level. Because showing and
listing appointments are usually set for afternoons or evenings,
morning may be the best time for a prospecting routine.
-Make the first call! The calls that follow will be easier. Think of the
athletic slogan "Just do it!" The hardest call is the first call. Just think
one call at a time.
-Don't leave a message. They likely will not call back and may
recognize your phone number and will probably avoid future calls
when you call back.
-You'll get better. As you make your daily calls, your contact skills
will get better and your enthusiasm levels will increase.
-Remember the goal. Before you make your calls, visualize what you
want to happen as a result of the call. Put a sign above the phone
that says "Get an appointment!" Another sign might read "Get a
referral!"