GRI Marketing Questions And Answers

All are potential lead sources EXCEPT: - Answer-FSBOs, Expired Listings, Direct Mail, YOUR TOP 25. In TREC Rule 535.17, a real estate salesperson is permitted for a fee to perform a CMA that does not conform to the USPAP provided the CMA contains the statement "THIS IS A BROKER PRICE OPINION OR CMA AND SHOULD NOT BE CONSIDERED AN APPRAISAL." - Answer-TRUE Which of the following is not an appraisal method? - Answer-Cost Approach, Income Approach, Sales Comparison Approach AKA Market Data Approach, BORROWER'S LOAN APPROACH. The science of right pricing will look for all EXCEPT: - Answer-Sold comparables, currently listed properties, local market conditions, financing conditions, fluctuations in interest rates, SEASONAL FLUCTUATIONS The pyramid of value says that the number of buyers willing to pay a given price is inversely proportional to the price. When the price is low there will be more buyers willing to buy than when the price is high. - Answer-TRUE Which of the following would not be used when selecting properties for comparison to achieve right pricing? - Answer-Select properties that are as similar as possible to the subject in terms of size, amenities, and condition; Properties should not be more than 15% larger/smaller than subject; sold properties should have sold as recently as possible and not longer than 6 months previously, AGE OF THE PROPERTY SHOULD BE WITHIN 6 YEARS (standard is within 3). Regarding the TAR Listing Contract, property means: - Answer-"land, improvements, and accessories described below", exceptions must be noted Paragraph 2 of the TAR listing contract will control any dispute or difference between what is in the listing contract and what is in the sales contract. - Answer-FALSE: THE SALES CONTRACT SUPERSEDES THE LISTING Paragraph 3 of the listing contract states: Seller will pay all typical closing costs charged to sellers of residential real estate in Texas - Answer-TRUEBroker Compensation is payable: - Answer-during the listing or after it ends at the earlier of the seller's refusal to sell the Property after Broker's compensation has been earned. Broker compensation is not payable if a sale of the Property does not close or fund as a result of: - Answer-Seller's failure without fault, to deliver to buyer a deed or title policy as required by the contract to sell; loss of ownership due to foreclosure or other legal proceeding; Seller's failure to restore the property as the result of a casualty loss to its previous condition by the closing date set forth in a contract for the sale of the property. (ALL OF THE ABOVE) In the listing contract, the protection period does not apply if: - Answer-the Property is exclusively listed with another Broker who is a member of TAR at the time the sale is negotiated (CAN'T BE FORCED TO PAY DOUBLE). In the listing contract, what is not the Broker's authority? - Answer-Broker is not authorized to execute any document in the name of or on behalf of Seller concerning the property. In the listing contract, Seller's additional promises are: (ALL OF THE ABOVE) - Answer-cooperate with Broker to facilitate showings, marketing and sale; not rent or lease the Property during the listing without Broker's written approval; not negotiate with any prospective prospect who contacts the seller directly, may not enter into another listing agreement with another Broker to become effective during this listing period without Broker's written approval; maintain pool and enclosures in compliance with laws and ordinances; provide Broker with copies of leases or rental agreements and advise Broker of tenants moving in/out of the property; complete disclosures or notices required by law or contract to sell the property; amend any applicable notices and disclosures if any material change occurs during this listing. The keybox is a convenience, but involves risks. Neither the Association of REALTORS nor MLS requires the use of a keybox. - Answer-TRUE Seller's Disclosure Exemptions Are: - Answer-Pursuant to a court order or foreclosure sale; by a trustee in a bankruptcy; mortgagor or successor in interest, or to a beneficiary of a deed of trust by a trust or success in interest; to or from any governmental agency. (ALL OF THE ABOVE)