1 of 10 - A competitive market analysis contains information about all of the following items except which?
Currently listed homes
Recently sold homes
Recently remodeled homes
Similar expired listings that didn't sell
You answered correctly
2 of 10 - What form can an agent use to show a seller what he or she will net on the sale of the property?
Statement of Closing Costs
Competitive Market Analysis
Sale Price Disclosure
Estimated Seller Proceeds
You answered correctly
3 of 10 - Which of the following will give you comparative market data the fastest?
Multiple listing service
County records
Company files
Title companies
You answered incorrectly
When doing a comparative market analysis, an agent compares properties that are similar to the seller's property. The easiest and fastest source of comparative properties on the market, recently sold, and listed but not sold is a multiple listing service, which sometimes includes photographs.
4 of 10 - A listing presentation can be compared to:
A training session
An employment interview
A practice closing
A sure sale
You answered correctly
5 of 10 - A presentation manual:
Should be professionally produced.
Can be used in place of a verbal presentation.
Is not necessary if the verbal presentation is strong.
Lends good visual support to what the agent is saying.
You answered incorrectly
A presentation manual is a valuable tool when interviewing a potential new client. The manual will help the agent look professional and support what the agent is saying, not replace the agent's verbal presentation; however, the manual is not a substitute for a good verbal presentation.
6 of 10 - Which of the following is not a true statement?
Buyers looking at FSBO homes are usually looking for a bargain.
FSBO sellers believe they will save money if they sell themselves.
FSBO sellers who list with an agent will pay their own advertising costs.
Buyers of FSBO homes are usually the ones who save money.
You answered incorrectly
Often buyers who look at FSBO homes assume it is a distress sale so they offer a lower price than if an agent is involved.
7 of 10 - A competitive market analysis is an attempt to:
Find things in the home a seller needs to repair.
Establish a home's fair market value.
Discover why some homes haven't sold.
Convince a seller to list with you.
You answered correctly
8 of 10 - Which of the following items would not usually be included in a presentation manual for buyers?
Documents showing your affiliations with real estate organizations.
Services offered to buyers.
Your plan for finding the buyer a home.
A list of former client references
You answered incorrectly
A buyer client needs to understand how the agent can help him or her shop for a home and how compensation is paid. The manual should cover the agent's skills and expertise, the firm's services, press releases about the firm, specialty areas, professional organization affiliations, and the agent's plan for finding the buyer a home. A list of former client references is not included.
9 of 10 - All of the following are benefits of listing with an agent except which?
Preparation of an appraisal of the property
Help during escrow
Qualification of buyers
Help with required forms and disclosures
You answered incorrectly
Agents help with many tasks during a home buying or selling transaction, such as completing forms and disclosures, qualifying for a loan, and helping during the escrow process. However, agents leave property appraisals to licensed appraisers.
10 of 10 - How many properties should be included for comparison in a competitive market analysis?
Two properties in each category
Five current listings -- three recently sold and two expired
A minimum of three properties in the recently sold category
