Colibri Chapter Quiz Questions 100% Correct Answers Verified 2024 Version

A licensee who is interested in retail stores and shopping centers should look into entering: residential real estate. commercial real estate. real estate counseling. real estate appraisal. - Commercial Of the following, which would NOT likely be a prospect? Blogs FSBOs People in your target audience Sphere of influence - Blogs Which of the following is considered the most important factor in real estate value due to the limited supply of land and immobility of real estate? Location Price Appearance Size - Location What do most new real estate licensees do after passing the state exam and receiving the state license? Begin investing in real estate Become a real estate attorney Join a brokerage that has a training program Open their own real estate firm - Join a Brokerage that has a training program.Which of the following is not one of the six separate areas of a licensee's activities? Prospecting for listings Previewing properties and matching prospective buyers with properties Representing clients in real estate law cases Attending meetings - Represent Clients in real estate law cases What is the purpose of prospecting? Creating a list of customers for the MLS Defining the target market Identifying potential customers Determining market value - Identifying potential customers The majority of new licensees begin their careers with a: mentor. personal assistant. attorney. public relations specialist. - A mentor All of the following are characteristics of a real estate market, EXCEPT that it: is a unique product. has a limited number of buyers and sellers. has a high mobility of product. has a local and segmented market. - Has a high mobility of product The real estate markets are driven by the business climate and activity in the economy, which are continuously changing. The changes occur as trends and cycles. Trends are: changes in the market in a consistent direction that occur over a long-term period. geographic, economic, or specialized subdivision of a market. fundamental principles in determining the price of a dic, irregular up-and-down movements in economic activity that take place over a period of 2 to 6 years. - Changes in the market in a consistent direction that occur over a long-term period. When dealing with FSBOs, it is best to: call them at least once a week until they give up and see you. send your broker to make the first contact. make a personal visit to the owners. point out the owners' inept marketing skills. - Make a personal visit to the owners What occurs during the activity of pre-qualifying? The licensee closes escrow. The licensee holds an open house. The licensee works with a lender to determine what a buyer can afford. The licensee works with a seller to determine a listing price. - The licensee works with a lender to determine what a buyer can afford. Of the following, which would NOT be considered permanently attached and therefore is personal property? Ranch style, 3-bedroom, 2-bath home A crop of wheat ready to be harvested Wild red raspberry bushes A recently installed skylight on the roof of a cottage - A crop of wheat ready to be harvested Robert owns property that fronts a river. Robert has: riparian rights. littoral rights. navigable rights. water mark rights. - Riparian Right