Section 4 Unit 1 Exam

A  First-time homebuyers

B  Retirees

C  Trade-down buyers

D  Trade-up buyers

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

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

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

D  Disregard your buyers’ likes and dislikes.

A  This could end up being a dual agency situation.

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

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

D  The buyers are not serious about buying a home.

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  Politely insist on a meeting.

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

C  Give up.

D  Wait a week and then call them again.

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

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

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

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

A  An agency agreement is required by law.

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

C  It would be dual agency.

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

A  Identify properties above the buyer’s price range.

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

C  Identify properties within the buyer’s price range.

D  Identify properties that are no longer on the market.