Section 4 Unit 1 Exam

A  Retirees

B  Trade-up buyers

C  Trade-down buyers

D  First-time homebuyers

A  Give buyers a guided tour of every area of the home.

B  Disregard your buyers’ likes and dislikes.

C  Let the buyers explore on their own, but remain close enough to read their cues.

D  Show buyers as many homes as possible in a single day.

A  You cannot answer any questions since you represent the seller.

B  This could end up being a dual agency situation.

C  The buyers are not serious about buying a home.

D  The buyers do not want to commit to becoming your clients.

A  Explain the transaction process.

B  Ask probing financial questions.

C  Obtain copies of the buyer’s last two pay stubs.

D  Focus on your track record as a sales professional.

A  Give up.

B  Wait a week and then call them again.

C  Give their number to a colleague and hope for referral compensation.

D  Politely insist on a meeting.

A  Description of the property being sought and obligations of the seller to the buyer

B  Method and timing of the broker’s compensation and obligations of the seller to the buyer and agent

C  Obligations of the buyer, the seller, the buyer’s agent, and the seller’s agent

D  Description of the property being sought, method and timing of the broker’s compensation, and obligations of the buyer and the buyer’s agent

A  Having an agency agreement allows you to represent the buyer’s interests.

B  An agency agreement is required by law.

C  It would be dual agency.

D  It commits the buyer to a two-year contract.

A  Identify properties that are no longer on the market.

B  Identify properties sold within the last three to six months.

C  Identify properties above the buyer’s price range.

D  Identify properties within the buyer’s price range.