1 of 10 - Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. What kind of closing technique is Jim using?
Assumptive
Alternative
Bonus
Ownership
You answered incorrectly
The bonus technique offers an inducement for the sale and should be used carefully and always with the seller's approval.
2 of 10 - Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply?
Final Verification of Condition
Removal of contingencies
Liquidated damages
Buyer indemnity and seller protection
You answered correctly
3 of 10 - All of these might be a buying signal except which?
Taking room measurements.
Asking about a possession date.
Moving closer to the agent to get a better look.
Walking through the home quickly.
You answered incorrectly
The signals that buyers send that indicate they may be ready to buy include actions such as taking pictures or measurements, words such as asking about a closing date or talking about how their furniture will fit, and body language such as signaling each other with a smile or moving closer to the agent to get a better view. Walking through the home quickly shows a lack of interest.
4 of 10 - What would be the least effective way to get to know your buyers' needs?
Ask closed-ended questions.
Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said.
Watch actions and body language.
Ask open-ended questions.
You answered correctly
5 of 10 - Offering a buyer more than one option and having him or her choose is using what kind of closing technique?
Bonus
Alternative
Ownership
Standing-Room-Only
You answered correctly
6 of 10 - All of the following are good approaches for handling objections except which?
View an objection as the buyer's request for more information.
Use the "yes-but" technique to handle the objection.
Ask the buyer more questions.
Tell the buyer it's not an issue.
You answered correctly
7 of 10 - Which paragraph of the purchase agreement states that if the buyer defaults after acceptance, he or she may be liable for the broker's commission?
Terms and conditions of offer
Final Verification of Condition
Dispute resolution
Liquidated damages
You answered correctly
8 of 10 - What does the paragraph on repairs state?
The buyer must make all repairs.
If checked, the seller can complete repairs after closing.
The seller can do all repairs himself.
All repairs must be in compliance with existing building codes.
You answered incorrectly
Any needed repairs must be done in compliance with building codes and with the proper permits and must be completed before the buyer's final verification. The seller must have receipts for the repairs and show the buyer they have been done.
9 of 10 - Which of these is an emotional reason that buyers buy property?
Tax advantages
Status
Investment
Schools
You answered incorrectly
A buyer's decision to buy a particular property will most likely be based on emotional needs, such as safety, security, pride, comfort, status, and trust in the agent.
10 of 10 - Which of these is not an important aspect of selling?
Establishing buyer rapport
Knowing your inventory
Giving buyers your opinion of what works best for them
