unit 2 The CE SHOP real estate exams Questions and Correct Answers | Latest Update
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Course
CE SHOP
Institution
CE SHOP
Which one of the following tasks must licensees perform for seller clients?
-Dictate the listing price of the property.
-Drive the sellers around to show them other properties that are for sale in their neighborhood.
-Ensure that the buyer's earnest money is deposited.
-Show the sellers how the...
Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
unit 2 The CE SHOP real estate exams
Questions and Correct Answers | Latest
Update
Which one of the following tasks must licensees perform for seller clients?
-Dictate the listing price of the property.
-Drive the sellers around to show them other properties that are for sale in their neighborhood.
-Ensure that the buyer's earnest money is deposited.
-Show the sellers how they can market their property.
Ensure that the buyer's earnest money is deposited.
**A licensee must ensure the collection of the earnest money deposit from the buyer. Earnest
money may be used as liquidated damages by the seller in the event of buyer default, so it's
in the seller's best interest to ensure it's been deposited.
When using the farming approach, affinity is a key factor when identifying a neighborhood.
Which statement best describes affinity?
-An area that is not currently farmed by another licensee
-An area that the licensee likes
-An area with a fair amount of listings ‒ not too many, not too few
-An area with a variety or home styles, sizes, features, price points, amenities, buyers, etc.
An area that the licensee likes
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
**Affinity is important when choosing a neighborhood. A licensee should genuinely like the
area where she intends to work.
Why should you know when the seller can vacate the property?
-If a buyer wants to close before the seller can vacate, the seller may need to rent it back
from the buyer.
-You'll need to know when you can have the property staged.
-You'll want the house empty for showings.
-You'll want to schedule the closing during the seller's occupancy.
If a buyer wants to close before the seller can vacate, the seller may
need to rent it back from the buyer.
**The timing of vacating an occupied property is important when marketing to buyers who
may want to move in before the seller's ready to move out.
Continue to Unit 2: Listing Agreements and Disclosures in South Carolina
Return to Unit 1: Basics of Working with Sellers
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Why might some agents work for buyers without ever having met them?
-It's the most effective use of their time.
-They believe they'll be able to get the buyer to commit to an agency agreement later.
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
-They don't particularly like people.
-They're afraid to turn down any business.
They're afraid to turn down any business.
**Some agents are willing to work for buyers without an agency agreement and without
ensuring buyer loyalty. This can be a waste of time.
Who does the agent assisting the buyer in a transaction represent if there's no buyer agency
agreement?
-No one
-The buyer in a sub-agency capacity
-The customer
-The seller
The seller
**Without a buyer agency agreement in place, the agent assisting the buyer actually
represents and owes loyalty to the seller.
________ have a fixed income, but they may have large down payments from selling prior
homes. Accessible properties with little to no maintenance tend to be attractive to these
buyers.
-First-time buyers
-Retirees
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
-Trade-down buyers
-Trade-up buyers
Retirees
**Retirees are similar to trade-down buyers, but there are some key differences. Little to no
maintenance and accessibility are key factors for these buyers, who may have fixed incomes,
but also have larger down payments from selling their previous homes.
From a real estate licensee's standpoint, what's the purpose of qualifying buyers before
working with them?
-To determine their financial wherewithal
-To determine their readiness to purchase and make sure they're not already working with
another agent
-To learn if you have things in common with them
-To pre-qualify them for a loan
To determine their readiness to purchase and make sure they're not
already working with another agent
**The purpose of qualifying buyers is to determine their readiness to work with you, and their
readiness to purchase. It's also important to establish that they're not already exclusively
represented by another agent.
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