Ch05 Quiz: Real Estate 84 Sec ON1 (20349) Fall 2023

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Chabot College *

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84

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Chemistry

Date

Jan 9, 2024

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10

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Ch05 Quiz Due Sep 24 at 11:59pm Points 20 Questions 20 Time Limit None Allowed Attempts 2 Attempt History Attempt Time Score LATEST Attempt 1 21 minutes 20 out of 20 Score for this attempt: 20 out of 20 Submitted Sep 23 at 4:46pm This attempt took 21 minutes. Take the Quiz Again 1 / 1 pts Question 1 An unlicensed real estate assistant may perform all of the following tasks except: copying, distributing, and filing transaction documents passing out brochures at an open house advising a client regarding available financing options Correct! Correct! updating listing information on the broker's website 1 / 1 pts Question 2
Servicing the listing involves: obtaining keys and installing a lockbox advertising the property giving the seller regular progress reports All of the above Correct! Correct! 1 / 1 pts Question 3 Which of the following is a method commonly used by agents to generate listings? Cold calling Referrals Farming All of the above Correct! Correct! 1 / 1 pts Question 4 A homeowner preparing his home for sale should do all of the following except::
fix any broken fences and railings replace worn carpeting prune trees and mow the lawn repaint interior walls in a bright primary color Correct! Correct! 1 / 1 pts Question 5 The best indication of a property's value is: current listings expired listings recently sold properties Correct! Correct! Any of the above 1 / 1 pts Question 6 When an agent obtains a listing, the first thing she should do is: prepare a weekly activity report enter the listing into the MLS Correct! Correct! hold an open house
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None of the above 1 / 1 pts Question 7 Young, inexperienced buyers with limited funds are typically: retirees trade-up buyers empty-nesters first-time buyers Correct! Correct! 1 / 1 pts Question 8 All of the following are typical tasks of a real estate assistant, except: negotiating a counteroffer Correct! Correct! maintaining transaction files sending out mailings answering phones 1 / 1 pts Question 9
An agency disclosure must be made to the buyer: before the buyer signs an offer Correct! Correct! as soon as the buyer walks into the agent's office at any point before a sale closes only once negotiations have begun 1 / 1 pts Question 10 Before showing properties to a prospective buyer, the agent should: preview the listings preview the neighborhoods choose a maximum of five or six listings for each showing All of the above Correct! Correct! 1 / 1 pts Question 11 Once an agent finds a prospective buyer, the next thing the agent should do is: preapprove the buyer
determine the buyer's housing needs Correct! Correct! enter the buyer's information into the MLS take the buyer to see homes in the neighborhood 1 / 1 pts Question 12 Before making a listing presentation, an agent should: visit the property to observe its features and quality complete a net proceeds to seller form complete a competitive market analysis All of the above Correct! Correct! 1 / 1 pts Question 13 What type of information should be conveyed in a listing agent's regular progress reports to the seller? Inquiries regarding the property Advertising for the listing Summary of showings and open houses
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All of the above Correct! Correct! 1 / 1 pts Question 14 A net proceeds to seller form is used to: show buyers what they can expect to spend show sellers how much cash they will receive from the sale Correct! Correct! estimate the property's likely sale price None of the above 1 / 1 pts Question 15 Servicing a listing typically involves all of the following except: advertising the property installing a keybox getting the seller preapproved Correct! Correct! holding an open house
1 / 1 pts Question 16 Before listing their home for sale, it's a good idea for sellers to: repaint the exterior a bright color move the most fragile and expensive furniture into the main living areas remove small valuable items from the home Correct! Correct! remodel the kitchen 1 / 1 pts Question 17 For safety reasons, it's good policy for real estate agents to: ask visitors to an open house to sign the guest book work with another agent when showing properties make sure that keyboxes are used properly All of the above Correct! Correct! 1 / 1 pts Question 18 "Trigger terms" that activate disclosure requirements under the Truth in
Lending Act include: downpayment amount Correct! Correct! APR brokerage commission rate None of the above 1 / 1 pts Question 19 Showing a buyer properties that are outside of her budget: usually results in a sale typically increases the buyer's agent's commission may discourage the buyer from finding an affordable home Correct! Correct! is recommended by most agents 1 / 1 pts Question 20 Which method of finding listings is a long-term process that involves becoming closely acquainted with a particular neighborhood? Cold calling
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Farming Correct! Correct! FSBOs Expired listings Quiz Score: 20 out of 20