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Chapter 9 Quiz

2019.04.15 21:26 Views : 169

1 of 10 - Which of these is not a good technique to get the name of a caller who is reluctant to give you that information?
Offer to mail the caller a set of fliers on interesting properties.
Ask the caller if he or she would like to receive e-mails on newly listed properties.
 
Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesn't exist.
Offer to call the prospect when new listings that meet his or her criteria come on the market.
You answered correctly
2 of 10 - Which of the following would be the least desirable phone handling technique?
Answer a question with a question when possible.
 
Give as much detailed information about the property as you can.
Ask the caller "when" not "if" he or she wants to see the property.
Arrange to meet the prospect at your office.
You answered correctly
3 of 10 - Which of these statements is not true about qualifying buyers?
You'll know how much house they can afford.
 
Lenders are in the best position to qualify buyers.
Sellers are apt to choose qualified buyers over ones who have not been qualified.
 
Collecting information and pre-qualifying buyers yourself is the easiest and best approach.
You answered incorrectly
The best way to qualify a buyer is to have him or her go through a lender's prequalification process. It will save time and energy it would take for the agent to try to prequalify the buyer him or herself.
4 of 10 - A reference list of alternative comparable properties is sometimes referred to as the:
Cheat sheet.
Telephone answering register.
 
Switch sheet.
 
Alternative list.
You answered incorrectly
Knowing which properties in the firm's inventory are comparable to each ad so they can be offered as good alternatives to callers is a good idea, so keeping a list, or switch sheet, of the properties handy by the phone is helpful.
5 of 10 - Prospects Jim and Linda arrive with agent Bill at the first showing. When Bill pulls in front of the home, Linda decides immediately that she doesn't want to see the inside. What should Bill do?
Tell Linda that the sellers will be very disappointed if they cancel the appointment.
 
Launch into your list of the home's special features and hope she changes her mind.
Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first.
 
Call the sellers immediately and let them know you won't be coming by.
You answered incorrectly
Potential buyers should not be pressured to look at something they are not interested in, so the agent should let the sellers know the appointment is being canceled and take the buyers to another property they may like better.
6 of 10 - Most buyers who see a newspaper ad that interests them:
 
Drive by the property.
 
Call your office.
Check out your Internet site.
Visit your office.
You answered incorrectly
Most buyer contacts that result from newspaper advertising, signs, or website listings are typically telephone calls.
7 of 10 - All of these questions could help you determine a prospect's capacity to make a purchase except which one?
 
How much do you have in your savings account?
Have you been pre-qualified or pre-approved by a lender yet?
Do you need the equity from your current home for the new home purchase?
 
Where do you and your spouse work?
You answered incorrectly
Asking how much savings will be available for a down payment is a good question to determine the buyer's capacity to purchase, but asking how much the buyer has in a savings account is not relevant.
8 of 10 - Sara just bought her first new home. She put 20% down and got a mortgage for the remainder. The difference between what Sara owes and what her home is worth is known as what?
 
Principal
Capital gain
Replacement cost
 
Equity
You answered incorrectly
One advantage of home ownership is the equity that accumulates as the mortgage is paid down and the property value increases. Equity is the paid-off share in the property, or the difference between what the owner owes on the mortgage and how much the home is worth.
9 of 10 - Which of the following is not an advantage of home ownership?
Increase in property value
Increase in equity
 
Repairs and maintenance
Tax deductions
You answered correctly
10 of 10 - A buyer calls your office to inquire about a property he saw advertised. He sounds really excited about this property. Where is it that he likely found out the property was for sale?
 
On the Internet
In a classified ad
 
From the For Sale sign
From a direct mail flier
You answered incorrectly
Callers inquiring about properties they've seen on the Internet are more targeted on the particular property they're calling about because they've seen more detailed descriptions and photos than are available in classified ads, For Sale signs, or direct mail fliers.
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