Real Estate Practice, Ch. 2 Quiz Flashcards

Real Estate Practice, Ch. 2 Quiz Flashcards Which of the following would be considered a "negative" of homeownership?a. lack of liquidityb. equity buildupc. forced savingsd. inflation protection

• lack of liquidity

In a very competitive real estate market:a. salespersons'

commission splits are usually lower.b. salespersons' commission splits are usually higher.c. brokers absorb advertising costs, rather than passing some of them onto agents.d. none of these answers are correct.

• salespersons' commission splits are usually higher.

The general purpose of advertising isa. meet the clients.b.bring the clients into the office.c. build rapport with the clients.d. all answers are correct

• all answers are correct

Real estate advertising and sales campaigns should be

based on:a. market research.b. buyer-reaction surveys.c.

client feedback.d. all of these answers are correct.

• all of these answers are correct.

Title insurance companies, probate attorneys and divorce

attorneys are often considered:a. unhelpful to a real estate

licensee.b. employees of a brokerage.c. professional business contacts in your sphere of influence.d. none of these answers are correct.

• professional business contacts in your sphere of

influence.Postcards and doorhangers (that don't require opening to

view) are considered:a. illegal by the US Postal service.b.

poor advertising techniquesc. indirect mail.d. direct mail.

• direct mail.

The website "Realtor.com" is associated with:a. The

California Department of Real Estate.b. The National Association of Realtors.c. The Consumer Protection Bureau.d. The California Housing Authority.

• The National Association of Realtors.

Advertising of real estate credit is under the jurisdiction of

the:a. Consumer Finance Protection Bureau.b. California

Bureau of Real Estate.c. Supreme Court.d. IRS.

• Consumer Finance Protection Bureau.

LinkedIn is a:a. private real estate clubb. dance step.c.

smartphone operating system.d. professional/social networking site.

• professional/social networking site.

In order to call yourself a REALTOR® you must:a. be a

broker for two years.b. have business cards printed with the word REALTOR on them.c. be a member of the National Association of Realtors® (NAR)d. have a bachelor's degree from an accredited university.

• be a member of the National Association of Realtors®

(NAR) Internet sites, yard signs, bus or bench signs are all

examples of:a. ineffective real estate advertising.b. overly

costly real estate advertising.c. effective real estate advertising.d. none of these answers are correct.

• effective real estate advertising.

Which of the following is considered a method to achieve a good response to an open house?a. Place an open house sign on property one week before the open houseb.Advertise the open house in a local newspaper and you MLSc. Invite numerous neighbors about the open house in person, by phone, or with postcards.d. All of these answers are correct.

• All of these answers are correct.

Writing an effective ad involves the time-tested method

of:a. APLAb. AIDAc. ADHDAd. ALTA

• AIDA (Attention, Interest, Desire, and Action)

Open houses are:a. an opportunity to find buyersb. an

opportunity to find sellersc. a planned period of time during which a property is held open for public viewing.d. all of these answers are correct.

• all of these answers are correct.

A good source for finding properties for sale by owners

(FSBOs) is/are:a. Craigslist.b. newspaper ads.c. bulletin

boards.d. all answers are correct

• all answers are correct

The APR and all other financing terms must be mentioned

in an ad:a. only if the ad runs longer than 30 days.b. only if

the lender requires it.c. if any financing term is mentioned.d. none of these answers are correct.

• if any financing term is mentioned.

The "I" in the advertising formula AIDA stands for:a.

interestb. integrityc. impulsivenessd. illustrate

• interest

The most frequently requested form of communication

between client and agent is:a. US mail.b. text messaging.c.

emailing.d. personal visits.

• text messaging.

Whenever an advertisement is the "first point of contact" it

must include:a. your DRE license number.b. your home

phone number.c. the number of clients you currently represent.d. all of these answers are correct.

• your DRE license number.

If you are doing your job well, you should be able to ask for

referrals from:a. past clients.b. current clients.c.

professional business contacts.d. all of these answers are correct.

• all of these answers are correct.