Everyday real estate
What is not a requirement for a successful listing presentation?
Having at least 6 months of experience
What is your main goal when talking to a prospect on the phone?
To make an appointment
Anyone, including a private owner, cannot ot discriminate based on race because of this?
What is the Civil Rights Act of 1866?
What is the main reasons listings expire?
They are overpriced.
A fixed-rate mortgage that consists of 26 payments is called what?
What is a biweekly mortgage?
What should you do if a buyer wants to sleep on their decision?
Ask to prepare the paperwork anyway.
This is given to someone looking for rentals
What is a showing list
Under the DO Not Call list what can an agent not do?
Prospect for new customers
What is not a post closing day duty?
Doing a walk thru.
What is the last item you should cover when presenting an offer?
The Price.
If a salesperson leans back in their chair while talking to a prospect, what is he showing?
Superiority
Which listing agreements can be entered into the MLS
Exclusive Agency and Exclusive right of sale listing agreements
Why would an agent encourage a buyer to put 20% down instead of 15%
To avoid mortgage insurance
This is known as a non cash expense.
What are reserves for replacement
A buyer and seller agree to sell a house, but it is not in writing. What could the outcome be?
It is unenforceable , not illegal.
Where do you find most of your expired listings?
The MLS
This listing agreement allows the owner not to pay commission if he finds the buyer, but all other transactions require the owner to pay the commission?
What is an Exclusve Agency Listing
What is the most important factor in a FICO score?
Your Payment history
What is not considered an operating expense.
Your mortgage payment
A Principal is responsible for the acts of whom?
His Single Agent
THE pricing pyramid is an illustration showing what is at the bottom of the pyramid.
More homes sell if the listing price is based on past sales.
A single agency notice is required when an agent is selling what type of property?
What is a residential house or condo
Adding an extra bathroom to a home causes the value to increase. This is known as what?
What is increasing returns?
When vacancy and collection losses are subtracted from Potential Gross Income, the resulting amount is called what?
What is Effective Gross Income?
A pool was installed at a cost of 50,000 the appraise values it at 30,000. This demonstrates the principle of what?
What is contribution?