Exam (elaborations)
UNIT 2 THE CE SHOP REAL ESTATE EXAMS QUESTIONS AND ANSWERS
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UNIT 2 THE CE SHOP REAL ESTATE EXAMS QUESTIONS AND ANSWERS
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UNIT 2 THE CE SHOP REAL ESTATEEXAMS QUESTIONS AND ANSWERS
Whichsonesofsthesfollowingstaskssmustslicenseessperformsforssellersclients?
-Dictatestheslistingspricesofsthesproperty.
-
Drivesthessellerssaroundstosshowsthemsotherspropertiessthatsaresforssalesinstheirsneighborho
od.
-Ensuresthatsthesbuyer'ssearnestsmoneysissdeposited.
-Showsthessellersshowstheyscansmarketstheirsproperty.s-sans--
Ensuresthatsthesbuyer'ssearnestsmoneysissdeposited.
**Aslicenseesmustsensuresthescollectionsofsthesearnestsmoneysdepositsfromsthesbuyer.sEarn
estsmoneysmaysbesusedsassliquidatedsdamagessbysthessellersinstheseventsofsbuyersdefault,s
sosit'ssinsthesseller'ssbestsintereststosensuresit'ssbeensdeposited.
Whensusingsthesfarmingsapproach,saffinitysissaskeysfactorswhensidentifyingsasneighborhood.
sWhichsstatementsbestsdescribessaffinity?
-Ansareasthatsissnotscurrentlysfarmedsbysanotherslicensee
-Ansareasthatstheslicenseeslikes
-Ansareaswithsasfairsamountsofslistingss‒snotstoosmany,snotstoosfew
-
Ansareaswithsasvarietysorshomesstyles,ssizes,sfeatures,spricespoints,samenities,sbuyers,setc.s
-sans--Ansareasthatstheslicenseeslikes
**Affinitysissimportantswhenschoosingsasneighborhood.sAslicenseesshouldsgenuinelyslikesthe
sareaswheresshesintendsstoswork.
Whysshouldsyousknowswhensthessellerscansvacatesthesproperty?
-
Ifsasbuyerswantsstosclosesbeforesthessellerscansvacate,sthessellersmaysneedstosrentsitsbacksfr
omsthesbuyer.
-You'llsneedstosknowswhensyouscanshavesthespropertysstaged.
-You'llswantstheshousesemptysforsshowings.
-You'llswantstosschedulesthesclosingsduringsthesseller'ssoccupancy.s-sans--
Ifsasbuyerswantsstosclosesbeforesthessellerscansvacate,sthessellersmaysneedstosrentsitsbacksfr
omsthesbuyer.
**Thestimingsofsvacatingsansoccupiedspropertysissimportantswhensmarketingstosbuyersswhos
mayswantstosmovesinsbeforesthesseller'ssreadystosmovesout.
,ContinuestosUnits2:sListingsAgreementssandsDisclosuressinsSouthsCarolina
ReturnstosUnits1:sBasicssofsWorkingswithsSellers
ViewsExamsResults
Whysmightssomesagentssworksforsbuyersswithoutsevershavingsmetsthem?
-It'ssthesmostseffectivesusesofstheirstime.
-Theysbelievesthey'llsbesablestosgetsthesbuyerstoscommitstosansagencysagreementslater.
-Theysdon'tsparticularlyslikespeople.
-They'resafraidstosturnsdownsanysbusiness.s-sans--
They'resafraidstosturnsdownsanysbusiness.
**Somesagentssareswillingstosworksforsbuyersswithoutsansagencysagreementsandswithoutsen
suringsbuyersloyalty.sThisscansbesaswastesofstime.
Whosdoessthesagentsassistingsthesbuyersinsastransactionsrepresentsifsthere'ssnosbuyersagen
cysagreement?
-Nosone
-Thesbuyersinsassub-agencyscapacity
-Thescustomer
-Thessellers-sans--Thesseller
**Withoutsasbuyersagencysagreementsinsplace,sthesagentsassistingsthesbuyersactuallysrepre
sentssandsowessloyaltystosthesseller.
________shavesasfixedsincome,sbutstheysmayshaveslargesdownspaymentssfromssellingsprior
shomes.sAccessiblespropertiesswith slittlesto snosmaintenancestendstosbesattractivestosthesesb
uyers.
-First-timesbuyers
-Retirees
-Trade-downsbuyers
-Trade-upsbuyerss-sans--Retirees
**Retireessaressimilarstostrade-
downsbuyers,sbutstheresaressomeskeysdifferences.sLittlestosnosmaintenancesandsaccessibilit
ysareskeysfactorssforsthesesbuyers,swhosmayshavesfixedsincomes,sbutsalsoshaveslargersdow
nspaymentssfromssellingstheirspreviousshomes.
Fromsasrealsestateslicensee'ssstandpoint,swhat'ssthespurposesofsqualifyingsbuyerssbeforesw
orkingswithsthem?
-Tosdeterminestheirsfinancialswherewithal
-
Tosdeterminestheirsreadinessstospurchasesandsmakessuresthey'resnotsalreadysworkingswiths
anothersagent
-Toslearnsifsyoushavesthingssinscommonswithsthem
-Tospre-qualifysthemsforsasloans-sans--
Tosdeterminestheirsreadinessstospurchasesandsmakessuresthey'resnotsalreadysworkingswiths
anothersagent
, **Thespurposesofsqualifyingsbuyerssisstosdeterminestheirsreadinessstosworkswithsyou,sandsth
eirsreadinessstospurchase.sIt'ssalsosimportantstosestablishsthatsthey'resnotsalreadysexclusive
lysrepresentedsbysanothersagent.
Whatstypesofsbuyerstendsstoslooksforspropertiesswithslesssspacesthanstheirsexistingshome,sb
utsthatswillsstillsoffersthemsassimilarsqualitysofsliving?
-First-timesbuyer
-Retiree
-Trade-downsbuyer
-Trade-upsbuyers-sans--Trade-downsbuyer
**wantstosmaintainsassimilarsqualitysofslivingsasstheirsexistingshome.
Ifsasbuyerswantsstoswritesansoffersandsaskssforsyourshelpsbutsdoesn'tswantstossignsansagencys
agreementswithsyou,swhosdosyousrepresent?
-Bothsthesbuyersandsthesseller
-Nosone
-Thesbuyer
-Thessellers-sans--Thesseller
**Withoutsansagencysagreementswithsthesbuyer,syou'dsrepresentsthesseller.
Withoutsasbuyersagencysagreementsinsplace,swhichspartysdoessthesagentswho'ssassistingsth
esbuyersrepresent?
-Nosone
-Thesagent
-Thesbuyer
-Thessellers-sans--Thesseller
**Ifstheresissnosagencysagreementsinsplace,sthesagentswho'ssassistingsthesbuyersrepresentss
thesseller.
ThesHendersonssareshavingsasverysdifficultstimesfindingsaspropertysthatsmeetsstheirsneeds.s
Whatsissaswaystheyscansfindsoff-marketslistings?
-Asksasrealsestatesagentstospollshersspheresofsinfluence.
-AsksasrealsestatesagentstossearchsthesMLS.
-Searchshomebuyingswebsites.
-Visitsrealsestatesbrokeragesstosseeswhatspropertiesstheysaresadvertising.s-sans--
Asksasrealsestatesagentstospollshersspheresofsinfluence.
**Off-
marketslistingssaresalsosknownsasspocketslistings.sOnlysthesseller,stheslistingsagent,sandsindi
vidualssthessellersandslistingsagentshavesinformedsknowsthespropertysissforssale.sItsissnotspos
tedsonsthesMLS,sbrokerageswebsites,sorshomebuyingswebsites.
Underswhatscircumstancessarespocketslistingssmoresprevalent?
-Whensinventorysisshigh
-Whensinventorysisslow
-Whensthesmarketsisscold
-Whenstheresissgreatersdemandsforsthems-sans--Whensinventorysisslow
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