3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? C. Do you need the equity from your current home for the new home purchase? A. Youll know how much house they can afford. This broker is guilty of what prohibited activity? B. C. Shows property addresses that should be excluded from prospecting. An assistant should never be left with the task of taking photos of a new listing. 4- How is property management seen as a risk to investing? Underline each word that should be capitalized in the following items. D. Erics broker should appoint Eric as the designated agent in this transaction. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 10 of 10 Most sellers object to offers based on: 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? D. Administers special assistance programs. Give as much detailed information about the property as you can. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. \hline Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. The Residential Environmental Hazards Guide, B. A. A. A. D. Broker Gina puts $150 into her trust account. B. Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. C. Your plan for finding the buyer a home. 4- What is the agreement that a broker can enter into with a buyer? 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? 9 of 10 All of these might be a buying signal except which? ", Answer: A- "What would you like to offer? The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. What is Gregs capital gain on the apartment? B. B. 5- What kind of newspaper ad could you place to solicit a listing? A. 5. Find things in the home a seller needs to repair. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? Authors Channel Summit. It can be considered an employment contract. D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. 6 of 11 Which of the following is not true about reverse annuity mortgages? 4- What is a good method for estimating what a seller will net from the sale of the property? 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. B. B. A real estate investment business organized as a trust best describes a(n), Chapter 9 - Cellular Respiration and Fermenta, flash card for the first 25 math question, Operations Management: Sustainability and Supply Chain Management, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. There are no offers on the property during the 6-month listing period and the listing expires. Encourage the buyer to get the attorney to review it quickly. rickey smiley and grandson videos 1- What is an important thing to remember about listing agreements? The adjusted cost basis of the first home was $140,000. A. B. Start in the room with the best features. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? 9 of 10 Which of these is not a helpful homeowner tip? Tell Linda that the sellers will be very disappointed if they cancel the appointment. A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. Go back to the buyer's agent and try to get the offer higher. 8- What actions does a lender take to sell a mortgage in the secondary market? 6 of 10 Which booklet is not part of the Combined Hazards Book? The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. 7 of 10 Which of these forms is not filled out by the seller? During a phone call, a salesperson discusses showing a property to a prospect. A. Housing and Community Development Act. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. B. D. Visiting a neighborhood with a co-worker could make you feel more comfortable. 7 of 11 In which of the following types of loans is the payment allocated only to interest? C. Once filed, it remains until terminated. 1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property? 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? C. They can make payments directly to the original lender. C. Find a lender who is willing to do FHA loans. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? C. The lender gives the borrower a mortgage and funds. Course Hero is not sponsored or endorsed by any college or university. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. California: Real Estate Practice Ch8 Quiz with no answers. Jim has decided that he will learn all he can about the new subdivisions at the west end of town. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. How long must a broker be licensed in order to apply for a temporary broker's license? Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. 3- In what three ways can an assistant aid an agent with appointments? Referral fee to a homeowners insurance agent. Lorem ipsum dolor sit amet, consecteticitur laoreet. C. Giving buyers your opinion of what works best for them. 91- This paragraph of the purchase agreements informs the seller of the buyers right to inspect the property and can cancel or request maintenance based on findings. 7. Present the $200,000 first and recommend rejection. : disclose the material relationship with the buyer on the dual agency disclosure, A man and woman sign a purchase contract, which is subsequently approved and signed by the seller. 5 of 10 Which of the following would not be a reason to choose to be an assistant? The home comes equipped with all furnishings. B. 7 of 10 Which disclosure form gives detailed information about the propertys condition? 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? 1- What is escrow? Please remove your shoes before entering the home. 7- Agent Jim needs to do a visual inspection of his listing. C. Classified ads placed on the property, D. Number of hits on the company website. What will they have to pay the lender? A. B. B. Anasayfa; Hakkmzda. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? 5- What actions can the sellers take regarding the purchase offer? 52- Which statement is true about a listing contract? 4 of 10 If someone shows up at the sellers door unexpectedly to see the home, the sellers should: C. Take their names and call your office. What percent of commission the licensees can charge. 36- Broker Eric secures a loan for buyer Paul. 3 of 10 All of these items are important to include on your weekly activity report except which? Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 4 of 10 If a person believes he or she has been discriminated against, how long does he or she have to file a HUD complaint? What should Jake do? What would we call Hannah? B. C. The same amount will go towards the principal every month. This best describes. C. Recommend a counteroffer back to list price. 1 of 10 Which of these statements is not true? The owner asks Tommy to market the property at market value but asks Tommy if he could negotiate with the bank and orchestrate a short sale. C. Is permissible if being accepted on behalf of a third party. 100 What should Tom do? 7 of 10 How might probate information help in prospecting? Where is it that he likely found out the property was for sale? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. D. Similar expired listings that didnt sell. The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Edge Reading, Writing and Language: Level C, David W. Moore, Deborah Short, Michael W. Smith. Last year, about 25% of his income came from sales commissions. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. Amanda loves the home and wants to make an offer. B. 5 of 50 Jane has been working with some buyers for several weeks. B. Greg has put himself in a potential dual agency situation. Set up a face-to-face meeting with the sellers as soon as possible. 11- What is a public report and when must it be provided? What is most likely their main motivation for investing? A. Wills weekly report indicates two showings and five inquiries for the week. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. B. 2- What is important to remember about multiple offers? 10- Which disclosures are NOT required to be made when selling residential property? plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? 1 of 12 California law requires that a licensee acting as a loan broker keep the Mortgage Loan Disclosure Statement on file for how long? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 95- Who is liable for the withholding on the sale of a property owned by a foreigner? A. B. Present the higher-priced offer first. The check that accompanies the salesperson license application must be for what amount? The owner has 30 days to notify the county assessor. B. C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. Which is a true statement? 4- What items are not covered by any title insurance policy? Give the deposit money to the seller. C. The date the lender receives her application. He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? What kind of agreement is this? Deposit the check into his trust fund account on the next business day. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. Try to get Sam to accept the offer. In this case, multiply the monthly income ($600) by 12. 5 of 10 Which of these is not a true statement? Write a counteroffer. Jim and Jane financed the remaining $25,000 through the seller. Deposit the check into his trust fund account on the next business day. B. Is generally viewed as unprofessional. Which of the following is true, if you are licensed as a referral agent? D. Brenda has not violated any fiduciary duty. C. Print postage labels from your computer. 3- When making your presentation, what topics should you cover? 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. 57- Under federal income tax law, the basis for a personal residence is which of the following: Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. B. Newsletters can be a very effective advertising forum for niche marketers. 64- Which of the following is not a form of personal advertising? Decide which offer is best and present that one. 7- What does the net operating income of a property represent? A. 2 of 10 All of these statements are true except which one? B. 9 of 10 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: A. How are properties affected by the local economy? Tell Mike that the sellers will be upset if they cancel the appointment. The price of a plane ride rises by 10 percent. Local ordinance requires a 20-foot rear and front setback. Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. What does that mean? C. Present Alexs offer first since it came in first. Next, calculate the points charged; $168,500 x 0.02 = $3,370. Use the yes-but technique to handle the objection. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. Loan terms are from 15 to 25 years. B. 8- Why should agent Grace give her client a Combined Hazards Book? B. 24 of 50 Tim thinks his buyers are ready to make an offer. B. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase 9- What is the basic purpose of Truth in Lending Regulation Z? A. A buyer mails an offer to an out-of-town seller. Bob Broker brings Sam Seller an offer with a higher price than the existing contract Sam has with another buyer. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? D. Employee status versus independent contractor status is an IRS issue. A. He paid $100,000 for it, and made $300,000 worth of improvements. Change the locks on the tenants apartment. C. I will get three new listings this month. If the loan is for $68,000, what will Mark be assessed in points? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? five letter words with l; jaiswal surname caste; pros and cons of herzberg theory; sechrest funeral home obituaries; curious george stuffed animal 1975; cornerstone staffing application 0 4- Why is it important to talk to the sellers about the buyers? 3- For whom do property tax exemptions exist and for how much? 8- What is an important issue for potential buyer clients to understand? 8. Call Us Today! 3. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? 5 of 10 What would be the least effective way to get to know your buyers needs? 9 of 10 A reference list of alternative comparable properties is sometimes referred to as the: 10 of 10 Prospects Jim and Linda arrive with agent Bill at the first showing. 6- What is the ultimate result of using the Closing Disclosure form? mejores programas bases de datos. 4- What is a good method for estimating what a seller will net from the sale of the property? C. Moving closer to the agent to get a better look. B. Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. 4 of 11 Which of these is also called a contract for deed? \end{array} Example 1. 54- Jim and Jane are buying a home for $120,000. 12- What are grant programs typically used for? 46 of 50 Greg grew up in and lives in a rural area. A. Kirk doesnt have the right to withdraw the offer so soon. C. The fair market value at the time of sale 8 of 10 Which of these marketing tools is not considered a traditional tool? 21 of 50 Once signed, escrow instructions can be changed only by: 22 of 50 What is one of the major objectives of professional property management? She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 5- Your listing presentation manual should be made up of two sections that address what issues? What should Bob advise Sam? B. 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? buyer randy makes an offer to purchase. Alex Jones owns a duplex and lives in one unit. He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using?