Post License Course (Barney Fletcher)
1. Within the first five years around ___% of agents leave the real estate
business: 80-90%
2. For buyers what are the five steps of the pre-qualification process: 1.
Urgency
2. Motivation
3. Financial Ability
4. Wants and Needs
5. Agency
3. For sellers what are the five steps to the first appointment: 1. Urgency
2. Motivation
3. Concerns
4. Expectations
5. Hesitations
4. A person who may be willing to engage in a real estate transaction: Prospect
5. A person who is willing to perhaps have a conversation but has no real
desire to engage in a real estate transactions: Suspect
6. In determining whether a person is a suspect or a prospect we must
consider: Urgency and motivation
7. When setting goals, its important they be: Specific
Measurable
Attainable
Realistic
Timely
8. Most common type of target market is a particular neighborhood of
homes: Farming
9. A ______ analysis can be helpful in analyzing your strengths and
weaknesses, which can sometimes help you pick the target market that is
best for you: SWOT
10. The primary objective of any type of real estate prospecting is to: Generate
an appointment
11. The ratio that is computed by dividing the number of homes sold in a year
by the total number of homes in the farms: Turnover ratio
12. A method of prospecting that will involve the telephone, but only as part
of a mix of different types of contacts: Circle prospecting
13. A ______ agent has more control than a _____ agent: Listing/selling
, Post License Course (Barney Fletcher)
14. This involves only one appointment with the prospective sellers. Licensee
makes the presentation, show the recommended price through CMA and
try
to get sellers to sign the listing contract: 1-step listing presentation
15 What is the best way to establish a personal brand in real estate: To develop
a good reputation
16. Which of the following choices is the most common way buyers find a
house they purchased: Internet
17. What is the most important part of your "brand" in your real estate career:
Your reputation
18. When a real estate licensee focuses his or her prospecting efforts on a
particular neighborhood or type of buyer is the licensee's: Target market
19. As a real estate agent your primary product is: Your contacts
20. When the number of listings by a particular firm is divided by the total
number of listings in that neighborhood, the result is the: Market share
21. Which of the following is the best way to ask for a referral: Who do you
know who might be looking to buy or sell a house
22. The process of ensuring that the interior and exterior of a home are as
attractive as possible is known as: Staging
23. The types of media used to generate new business is known as the:
Promotional mix
24. When doing the initial tour of a house before making a listing presentation,
one goal should be to: Get the sellers to view the property from the standpoint
of a typical buyers rather than a seller
25. A buyer has made an offer on a seller's house. The offer gives the buyer
10 days to have a licensed home inspection of the property and to cancel
the offer if the inspection reveals significant necessary repairs unknown
to the buyer. This is an example of: Contingency clause
26. Which of the following types of sales of a personal residence would
require a third-party approval before the sale could be closed: A
bankruptcy, a divorce, or a short sale
27. What is the most important factor in qualifying a prospective buyer:
Whether the prospect is financially qualified to purchase a home
28. In deterring whether or not to issue a pre-approval letter, the lender would
consider: Principal, interest, property taxes, and insurance
, Post License Course (Barney Fletcher)
29. What is the purpose of using an assumptive close: To make it easier for the
buyer to say yes
30. If the buyer and seller agreed that the buyer would purchase the patio
furniture as part of the contract, this would appear in which section of the
Purchase and Sale agreement: Special Stipulations
31. A loan point is: One percent of the loan amount
32. Assuming the buyers ride in your car, the time spent in the car can be put
in good use by: Discussing the positive features of the neighborhood
33 what is the biggest difference between traditional telemarketing and circle
prospecting?: circle prospecting requires. follow-up
34. under what circumstance should a real estate licensee use a 1-step
listing presentation: if the homeowner insists on it
35. what is the most common reason why new licensees hate making cold
calls on the telephone: fear of rejection
36. which of the following contact methods is most likely to get people to
remember you: send a handwritten thank you note after a phone conversation 37.
when answering a phone call, which of the following choices would be a key
objective: to not only give information, but to get information from the caller as well
38. what type of software is designed specifically to avoid "one and done"
prospecting: customer relationship management (CRM)
39. when trying to get a listing from a seller whose previous listing was
expired, which of the following choices are recommended to solicit a
listing contract from that seller: provide a free service, such as analysis of
current market conditions
40. situations where on party represents another party: law of agency
41. the laws regarding agency come from what three sources in the US:
common law, statutory law, and administrative or regulatory law
42. stems from British laws which applied to the colonies before the
Revolutionary War (precedents): Common law
43. laws passed by the state legislature or the Congress and signed by the
governor.: statutory laws
44. refers to the rules and regulations adopted by various regulatory bodies-
: Administrative or regulatory law
45. the person who hires the agent to represent them in a transaction: principal
46. the person hired to represent the principal: agent
, Post License Course (Barney Fletcher)
47. in real estate practice, the ______ is considered the agent: broker
48. represents the principal in all aspects of the principal's dealings,: universal
agent
49. less authority than a universal agent but may represent the principal in an
ongoing series of continuous events, usually in one general field of
endeavor.
In real estate, property managers: general agent
50. represents the principal in one specific transaction.: special agent
51. acts as agent for an agent and has the same duties and obligations as the
agent: subagent
52 a position of trust and must put the interest of his client (Steve) above
those of all others, including and especially those of himself.: fiduciary
obligations
53. This means that the agent is required to act in the best interest of the client
and must not put anyone else's interests ahead of those of the client.: loyalty
54. Agents are only required to follow the ________instructions of their
client.: lawful
55. In simple terms, this means that the licensee must perform the duties of
the agent as would a competent real estate professional and without any
negligence.: reasonable care and diligence
56. If you are showing property you are listing and tell a prospective buyer
that "...this property is the best for you," the relationship created could be
interpreted as:: implied agency
57. Under common law, a broker who has a listing is in a position of trust
and must put his or her interests above those of all others. This describes
what type of obligation?: fiduciary
58. What is the greatest risk in a case where a buyer's agent submits offers
on several homes simultaneously?: . The buyer could be contractually obligated
to buy more than one house and could face damages if defaulting on any of the
contracts.
59. The duty of an agent to follow the instructions of the client applies to
each of the following instructions, EXCEPT:: . "Do not reveal to any buyers that
my roof leaks."
60. The state law that specifies which types of contracts must be in writing
to be enforceable is called the:: Statute of Frauds.
1. Within the first five years around ___% of agents leave the real estate
business: 80-90%
2. For buyers what are the five steps of the pre-qualification process: 1.
Urgency
2. Motivation
3. Financial Ability
4. Wants and Needs
5. Agency
3. For sellers what are the five steps to the first appointment: 1. Urgency
2. Motivation
3. Concerns
4. Expectations
5. Hesitations
4. A person who may be willing to engage in a real estate transaction: Prospect
5. A person who is willing to perhaps have a conversation but has no real
desire to engage in a real estate transactions: Suspect
6. In determining whether a person is a suspect or a prospect we must
consider: Urgency and motivation
7. When setting goals, its important they be: Specific
Measurable
Attainable
Realistic
Timely
8. Most common type of target market is a particular neighborhood of
homes: Farming
9. A ______ analysis can be helpful in analyzing your strengths and
weaknesses, which can sometimes help you pick the target market that is
best for you: SWOT
10. The primary objective of any type of real estate prospecting is to: Generate
an appointment
11. The ratio that is computed by dividing the number of homes sold in a year
by the total number of homes in the farms: Turnover ratio
12. A method of prospecting that will involve the telephone, but only as part
of a mix of different types of contacts: Circle prospecting
13. A ______ agent has more control than a _____ agent: Listing/selling
, Post License Course (Barney Fletcher)
14. This involves only one appointment with the prospective sellers. Licensee
makes the presentation, show the recommended price through CMA and
try
to get sellers to sign the listing contract: 1-step listing presentation
15 What is the best way to establish a personal brand in real estate: To develop
a good reputation
16. Which of the following choices is the most common way buyers find a
house they purchased: Internet
17. What is the most important part of your "brand" in your real estate career:
Your reputation
18. When a real estate licensee focuses his or her prospecting efforts on a
particular neighborhood or type of buyer is the licensee's: Target market
19. As a real estate agent your primary product is: Your contacts
20. When the number of listings by a particular firm is divided by the total
number of listings in that neighborhood, the result is the: Market share
21. Which of the following is the best way to ask for a referral: Who do you
know who might be looking to buy or sell a house
22. The process of ensuring that the interior and exterior of a home are as
attractive as possible is known as: Staging
23. The types of media used to generate new business is known as the:
Promotional mix
24. When doing the initial tour of a house before making a listing presentation,
one goal should be to: Get the sellers to view the property from the standpoint
of a typical buyers rather than a seller
25. A buyer has made an offer on a seller's house. The offer gives the buyer
10 days to have a licensed home inspection of the property and to cancel
the offer if the inspection reveals significant necessary repairs unknown
to the buyer. This is an example of: Contingency clause
26. Which of the following types of sales of a personal residence would
require a third-party approval before the sale could be closed: A
bankruptcy, a divorce, or a short sale
27. What is the most important factor in qualifying a prospective buyer:
Whether the prospect is financially qualified to purchase a home
28. In deterring whether or not to issue a pre-approval letter, the lender would
consider: Principal, interest, property taxes, and insurance
, Post License Course (Barney Fletcher)
29. What is the purpose of using an assumptive close: To make it easier for the
buyer to say yes
30. If the buyer and seller agreed that the buyer would purchase the patio
furniture as part of the contract, this would appear in which section of the
Purchase and Sale agreement: Special Stipulations
31. A loan point is: One percent of the loan amount
32. Assuming the buyers ride in your car, the time spent in the car can be put
in good use by: Discussing the positive features of the neighborhood
33 what is the biggest difference between traditional telemarketing and circle
prospecting?: circle prospecting requires. follow-up
34. under what circumstance should a real estate licensee use a 1-step
listing presentation: if the homeowner insists on it
35. what is the most common reason why new licensees hate making cold
calls on the telephone: fear of rejection
36. which of the following contact methods is most likely to get people to
remember you: send a handwritten thank you note after a phone conversation 37.
when answering a phone call, which of the following choices would be a key
objective: to not only give information, but to get information from the caller as well
38. what type of software is designed specifically to avoid "one and done"
prospecting: customer relationship management (CRM)
39. when trying to get a listing from a seller whose previous listing was
expired, which of the following choices are recommended to solicit a
listing contract from that seller: provide a free service, such as analysis of
current market conditions
40. situations where on party represents another party: law of agency
41. the laws regarding agency come from what three sources in the US:
common law, statutory law, and administrative or regulatory law
42. stems from British laws which applied to the colonies before the
Revolutionary War (precedents): Common law
43. laws passed by the state legislature or the Congress and signed by the
governor.: statutory laws
44. refers to the rules and regulations adopted by various regulatory bodies-
: Administrative or regulatory law
45. the person who hires the agent to represent them in a transaction: principal
46. the person hired to represent the principal: agent
, Post License Course (Barney Fletcher)
47. in real estate practice, the ______ is considered the agent: broker
48. represents the principal in all aspects of the principal's dealings,: universal
agent
49. less authority than a universal agent but may represent the principal in an
ongoing series of continuous events, usually in one general field of
endeavor.
In real estate, property managers: general agent
50. represents the principal in one specific transaction.: special agent
51. acts as agent for an agent and has the same duties and obligations as the
agent: subagent
52 a position of trust and must put the interest of his client (Steve) above
those of all others, including and especially those of himself.: fiduciary
obligations
53. This means that the agent is required to act in the best interest of the client
and must not put anyone else's interests ahead of those of the client.: loyalty
54. Agents are only required to follow the ________instructions of their
client.: lawful
55. In simple terms, this means that the licensee must perform the duties of
the agent as would a competent real estate professional and without any
negligence.: reasonable care and diligence
56. If you are showing property you are listing and tell a prospective buyer
that "...this property is the best for you," the relationship created could be
interpreted as:: implied agency
57. Under common law, a broker who has a listing is in a position of trust
and must put his or her interests above those of all others. This describes
what type of obligation?: fiduciary
58. What is the greatest risk in a case where a buyer's agent submits offers
on several homes simultaneously?: . The buyer could be contractually obligated
to buy more than one house and could face damages if defaulting on any of the
contracts.
59. The duty of an agent to follow the instructions of the client applies to
each of the following instructions, EXCEPT:: . "Do not reveal to any buyers that
my roof leaks."
60. The state law that specifies which types of contracts must be in writing
to be enforceable is called the:: Statute of Frauds.
