selling home is a big thing
selling is time consuming
selling house is a promise
Wednesday, July 23, 2008
Stock exchange
7/22/07
in business when it hit the time that stocks are good in rumors
vs
in real it is bad
otherwise
when 7/22/2007 all says real estate is bad
vs
it hits the bottom and once the turning point news:"interest rate is lowered"
then
all good news will follow in 2008.
in business when it hit the time that stocks are good in rumors
vs
in real it is bad
otherwise
when 7/22/2007 all says real estate is bad
vs
it hits the bottom and once the turning point news:"interest rate is lowered"
then
all good news will follow in 2008.
Wednesday, May 14, 2008
guaranteed victory
in judge chapter 7 8 9
http://www.o-bible.com/cgibin/ob.cgi?version=hb5&book=jug&chapter=6
summary big long story into small one and state only conclusion
http://www.o-bible.com/cgibin/ob.cgi?version=hb5&book=jug&chapter=6
summary big long story into small one and state only conclusion
unconditonal love
even husb is not good enough, once married, then wife should "SUBMIT to" still
not obey though...
and depend on individual case!
and likewise wife to husb
wife should not use sex as a weapon like
stay outside of the bedroom tonight cos
satan is going to take away the husb!?
not obey though...
and depend on individual case!
and likewise wife to husb
wife should not use sex as a weapon like
stay outside of the bedroom tonight cos
satan is going to take away the husb!?
Wednesday, May 7, 2008
10%
2 basic rule for kid
put god first everything even marriage
10% donation
first trust him based on good faith
danny: donate to god and not the church
fh: donate to catholic who pay lawsuit ? rather to real needy
danny: it is about the giving out and not the whom receiptant
fh: giving out can be to anybody less-than-religious
danny: danny donate before he got it so he eat potato for 2 wk, just drive benz recently, reasonable;
fh: danny donate cos he got it, with benz and expensive watch!;
danny: don't compare cos it means "praise-to-person"
fh: not trying to be personalized when i mention danny's wealth
(people don't sense danny's intention about comparison and personal attack to danny at all after I link both together, i guess but on the other hand, alot of jealousy deep inside fh and hardship internal)
afterward:
joe reminded fh to be careful of health
jojo also mentioned about keep up the good work
cos they feel i am suffering?
put god first everything even marriage
10% donation
first trust him based on good faith
danny: donate to god and not the church
fh: donate to catholic who pay lawsuit ? rather to real needy
danny: it is about the giving out and not the whom receiptant
fh: giving out can be to anybody less-than-religious
danny: danny donate before he got it so he eat potato for 2 wk, just drive benz recently, reasonable;
fh: danny donate cos he got it, with benz and expensive watch!;
danny: don't compare cos it means "praise-to-person"
fh: not trying to be personalized when i mention danny's wealth
(people don't sense danny's intention about comparison and personal attack to danny at all after I link both together, i guess but on the other hand, alot of jealousy deep inside fh and hardship internal)
afterward:
joe reminded fh to be careful of health
jojo also mentioned about keep up the good work
cos they feel i am suffering?
Monday, March 24, 2008
vivian = isabella = andy
03/23/08 easter sun
at 10 pm i called her
no appreciation at all
"u think i m as lucky as u" -- this sentence finish FOREVER whatever the relationship
one who won't listen and only complain
just like me too maybe but at least i am soft
i told her to be soft -- never change
i told her not to foul lang - still the same
she never call me -- same as feyon
she envy only
she didn't come to church cos she think all people is bad
don't feed the negative energy beast
she only use me to drive fri and drive that
she call me if she need a driver
she treat me buffet cos she already requested me to treat her back in daly city
she will tease me about 2 properties in 5 years plan by saying :"did you make it yet"
don't waste your time in her and isabella and andy
at 10 pm i called her
no appreciation at all
"u think i m as lucky as u" -- this sentence finish FOREVER whatever the relationship
one who won't listen and only complain
just like me too maybe but at least i am soft
i told her to be soft -- never change
i told her not to foul lang - still the same
she never call me -- same as feyon
she envy only
she didn't come to church cos she think all people is bad
don't feed the negative energy beast
she only use me to drive fri and drive that
she call me if she need a driver
she treat me buffet cos she already requested me to treat her back in daly city
she will tease me about 2 properties in 5 years plan by saying :"did you make it yet"
don't waste your time in her and isabella and andy
Sunday, March 23, 2008
practice quiz
1. The real estate industry is constantly changing. Therefore, it is important to stay knowledgeable about market changes and:
a. new real estate laws and regulations.
b. new disclosures.
c. new contracts.
Correct d. all of the above.
--------------------------------------------------------------------------------
2. How can a sales associate prepare for a listing appointment?
Correct a. Send a pre-listing package.
b. Prepare a counteroffer.
c. Write a cover letter.
d. Stage the home.
--------------------------------------------------------------------------------
3. Which of the following is not mandated to be given to the seller by the listing agent upon taking a listing?
Incorrect a. Seller's Advisory
b. Disclosure of Real Estate Agency Relationships
c. Sellers Instruction to Exclude Listing from MLS
d. Residential Listing Agreement
--------------------------------------------------------------------------------
4. When does a buyer have a right to a walk-through?
a. Prior to the home being listed for sale
b. After accepting the offer
Correct c. Prior to closing
d. None of the above
--------------------------------------------------------------------------------
5. How can a real estate professional ensure referrals and future business after a closing?
Correct a. Follow-up and address any questions, problems, or concerns
b. Call the client the day after closing and ask for names of family or friends.
c. Send several expensive gifts to the client.
d. All of the above
--------------------------------------------------------------------------------
6. What should a listing agent do when handling offers and counteroffers?
a. Analyze the offer with the buyer
Correct b. Analyze the offer with the seller
c. Counsel the buyer regarding acceptance of the offer
d. Request a counteroffer from the seller
--------------------------------------------------------------------------------
7. Before writing the offer, it is important to:
a. be sure you understand the seller's needs.
b. say nothing about how the offer will be presented.
c. obtain only the buyer's signature.
Correct d. explain the offer and counteroffer process.
1. When should the salesperson ask for the listing and disclose the agency relationship?
Your Answer a. After the listing presentation
b. Over the phone
Correct c. During the listing presentation
d. As soon as the seller and salesperson meet
--------------------------------------------------------------------------------
2. The real estate industry is constantly changing. Therefore, it is important to stay knowledgeable about market changes and:
a. new real estate laws and regulations.
b. new disclosures.
c. new contracts.
Correct d. all of the above.
--------------------------------------------------------------------------------
3. Before writing the offer, it is important to:
Your Answer a. be sure you understand the seller's needs.
b. say nothing about how the offer will be presented.
c. obtain only the buyer's signature.
Correct d. explain the offer and counteroffer process.
--------------------------------------------------------------------------------
4. How can a sales associate prepare for a listing appointment?
Correct a. Send a pre-listing package.
b. Prepare a counteroffer.
c. Write a cover letter.
d. Stage the home.
--------------------------------------------------------------------------------
5. When does a buyer have a right to a walk-through?
a. Prior to the home being listed for sale
b. After accepting the offer
Correct c. Prior to closing
d. None of the above
--------------------------------------------------------------------------------
6. Every sale begins with which challenge?
a. Deciding what to wear
Correct b. Finding a buyer
c. Setting up an initial meeting
d. Understanding the selling process
--------------------------------------------------------------------------------
7. How can a real estate professional ensure referrals and future business after a closing?
Correct a. Follow-up and address any questions, problems, or concerns
b. Call the client the day after closing and ask for names of family or friends.
c. Send several expensive gifts to the client.
d. All of the above
--------------------------------------------------------------------------------
8. What should a listing agent do when handling offers and counteroffers?
a. Analyze the offer with the buyer
Correct b. Analyze the offer with the seller
c. Counsel the buyer regarding acceptance of the offer
d. Request a counteroffer from the seller
--------------------------------------------------------------------------------
9. Which of the following is not mandated to be given to the seller by the listing agent upon taking a listing?
a. Seller's Advisory
b. Disclosure of Real Estate Agency Relationships
Correct c. Sellers Instruction to Exclude Listing from MLS
d. Residential Listing Agreement
--------------------------------------------------------------------------------
10. Which of the following is not always required disclosures in a real estate transaction?
a. Real Estate Transfer Disclosure Statement
b. Natural Hazard Disclosure
Your Answer c. Agency Relationship Disclosure
Correct d. Lead-based Paint Disclosure
1. Which of the following helps you keep track of all your client information?
a. Global positioning system (GPS)
b. Digital camera
Correct c. Contact management software
d. Microsoft PowerPoint
--------------------------------------------------------------------------------
2. A real estate sales associate's job includes:
a. listening to a buyer's dreams.
b. determining how a buyer's dreams define the kind of house they desire.
c. finding a way to make the buyer's dreams come true.
Correct d. doing all of the above.
--------------------------------------------------------------------------------
3. What must real estate sales associates do to minimize risk and help protect themselves in the event of a lawsuit?
Correct a. Carefully document every event in a transaction
b. Contact the broker and principal daily
c. Have an attorney on retainer
d. Have the escrow holder handle all of the problems
--------------------------------------------------------------------------------
4. To be competitive in today's real estate profession, a new real estate salesperson should invest in:
a. a designer purse or status watch.
Correct b. technology, such as a cell phone, digital camera, or computer.
c. an expensive briefcase.
d. a new vehicle.
--------------------------------------------------------------------------------
5. Which is an example of a start-up cost for a new real estate salesperson?
a. Cell phone bill
b. Car maintenance
c. Coordinator fees
Correct d. Computer equipment
--------------------------------------------------------------------------------
6. In order to become a great listener you should:
a. contradict the speaker whenever possible.
b. occasionally make eye contact with the speaker.
c. write down everything the speaker says.
Correct d. ask clarification questions.
--------------------------------------------------------------------------------
7. As a real estate sales associate, the way you dress and present yourself is considered:
a. unimportant.
Correct b. important because you have only one chance to make a good impression.
c. important only if the client is wealthy.
d. unimportant because the client should be interested in your knowledge, not your appearance.
--------------------------------------------------------------------------------
8. How many months of living expenses should new real estate salespeople set aside until they have a steady income from real estate sales?
a. 1 to 3 months
b. 3 to 6 months
Correct c. 6 to 12 months
d. 12 to 24 months
--------------------------------------------------------------------------------
9. What is the first step you should take when dealing with a difficult client?
Correct a. Listen carefully to the client's criticism.
b. Interrupt the client with questions to find our more information
c. Tell the client to call back when they are calm.
d. Discuss how you are feeling
--------------------------------------------------------------------------------
10. Why do many new salespeople leave the real estate business within the first year?
a. They are not prepared for the profession.
b. They are not determined to sell.
c. They do not understand the difficulty and competitiveness of the profession.
Correct d. All of the above
5. Which agreement protects the rights of both the seller and the buyer if the buyer wants early possession of the property, or the seller wishes to remain in possession after the close of escrow?
a. Buyer Occupancy Agreement
Correct b. Interim Occupancy Agreement
c. Early Occupancy Agreement
d. Seller Occupancy Agreement
--------------------------------------------------------------------------------
6. If the property needs any repairs, they must be done:
a. with permits.
b. in compliance with building codes.
c. before the buyer's final verification of the condition of the property.
Correct d. all of the above.
--------------------------------------------------------------------------------
7. If a buyer removes any contingencies in writing, it means the buyer has:
a. completed everything pertaining to the contingency.
b. decided to proceed with the transaction.
c. accepted responsibility for completing the transaction.
Correct d. done all of the above.
10. Which of the following statements is incorrect regarding purchase contracts?
a. The RPA-CA contract is used all over California.
Correct b. The California Department of Real Estate requires a specific type of contract.
c. A broker may have an attorney create a purchase contract.
d. All of the above are correct.
What happens to the deposit if a purchase agreement is cancelled?
a. The buyer's deposit, less costs and fees, will automatically be returned.
b. The buyer's deposit, less costs and fees, will be given to the seller.
Correct c. The buyer's deposit, less costs and fees, will be returned once the escrow holder receives a written notice of cancellation signed by both buyer and seller.
d. The buyer's deposit, less costs and fees, will be given to the brokers once the escrow holder receives a written notice of cancellation signed by both buyer and seller.
. What should be done if a dispute arises?
Your Answer a. Both buyer and seller should immediately hire attorneys.
b. The broker should advise the seller or buyer how to handle the dispute.
Correct c. The dispute should try to be settled amicably through mediation or arbitration.
d. None of the above
What occurs if the offer is accepted and signed by the seller and the buyer is notified of the acceptance within the time specified?
Correct a. The offer becomes a legally binding contract.
Which of the following is not included in the Finance Terms section on the C.A.R. form?
Correct a. Allocation of Costs
5. In real estate, a farm area is described as an area:
a. that produces a harvest of fruits and vegetables.
b. in a rural area with large lots.
Correct c. that produces a harvest in the form of listings and sales.
d. where minor league baseball teams play.
--------------------------------------------------------------------------------
6. To have a successful website, what is the first thing that should be identified?
Correct b. The target audience you are trying to attract
10. In many offices, sales associates are assigned specific times to be in the office to answer questions from buyers responding to newspaper ads and real estate signs. This is called:
Correct b. floor time.
A group of individuals already known to you is called:
a. renters.
b. newlyweds.
Correct c. sphere of influence.
What percentage of a sales associate's commission could be paid to a relocation
company for a referral fee? 25-40
What percentage of buyers used the newspaper to find the home they purchased? 5%
Which statement is correct regarding the Do-Not-Call regulations?
a. State law supersedes federal law.
b. Real estate sales associates may never make cold calls.
c. There are no restrictions on the number of cold calls real estate assistants may make.
Correct d. None of the above are correct.
What techniques should be used when telemarketing?
a. Speak to the person who answers the phone, even if they are not the prospect.
Correct b. Adapt your presentation to the prospect's interests.
When contacting the owner of an expired listing, be sure to:
a. call the owner on the day the listing expires.
b. deliver a pre-listing package to the property and follow up with a call.
Your Answer c. examine the condition of the property and determine if it is priced correctly.
Correct d. do all of the above.
2. Consumers who are attracted to luxury homes will most likely be:
a. first time buyers.
b. consumers who have outgrown the entry-level home.
c. buyers who have had a career change.
Correct d. experienced buyers who are ready to purchase their dream home.
--------------------------------------------------------------------------------
3. In order to attract buyers and sellers, you must:
a. use personal and property marketing plans.
b. promote a service or product.
c. advertise your marketing concepts.
Correct d. do all of the above.
--------------------------------------------------------------------------------
4. What describes what you expect to accomplish, what you will do to reach your goals, and what marketing efforts you will make to reach your target group?
a. A property marketing plan
Correct b. A personal marketing plan
c. A real estate sales plan
d. A communication plan
--------------------------------------------------------------------------------
5. Which of the following statements is incorrect regarding a property marketing plan?
Correct a. It is best to save time by using a plan developed by another salesperson.
b. The plan is a roadmap leading to the sale of a particular property.
c. Emphasize features that may attract buyers.
d. Marketing efforts should be custom designed for each property.
--------------------------------------------------------------------------------
6. A new salesperson should have:
a. 6-12 month's worth of savings to cover basic living expenses.
b. additional savings to cover business start-up costs.
c. enough money to pay for marketing and advertising.
Correct d. all of the above.
--------------------------------------------------------------------------------
7. Typical marketing pieces might include:
a. basic black and white brochures.
Correct b. four-color postcards or brochures.
c. stationery, envelopes, and business cards with various logos.
d. none of the above.
Which technique may be used for successful marketing?
a. Limit open houses and property exposure to serious buyers.
b. Use attractive photos of the exterior of the home only.
Correct c. Make buyers aware of special incentives such as seller financing
About how long does a person spend skimming an ad? 4sec
marketing piece that highlights the salesperson's qualifications is called:
Correct a. a career book
Which phrase should not be included in a real estate advertisement because it could be considered offensive?
Correct c. Prefer active resident
--------------------------------------------------------------------------------
1. What is prepared to verify the legal ownership of the property?
a. Chain of title
b. Cloud of title
Correct c. Preliminary title report
d. Settlement statement
--------------------------------------------------------------------------------
2. When do homeowners usually pay annual property taxes?
a. March and August
Correct b. December and April
c. July and January
d. October and February
--------------------------------------------------------------------------------
3. This person is a neutral third party who carries out the provisions of an agreement between a seller and buyer, or a lender and a borrower if the transaction is a loan closing.
a. Escrow holder
b. Escrow officer
Correct c. Either a or b
d. Neither a nor b
--------------------------------------------------------------------------------
4. What is not considered good funds because it takes several days to process?
a. A cashier's check
b. A certified check
c. Wired funds
Correct d. A personal check
--------------------------------------------------------------------------------
5. What is an escrow holder's first responsibility upon receipt of the signed purchase agreement?
Correct a. To open an escrow file and create escrow instructions.
b. To notify the buyer and seller.
c. To verify the buyer's employment.
d. To monitor the loan interest rates.
6. Which of the following statements is incorrect regarding closing statements?
Correct a. The escrow holder is not required to prepare a separate closing statement for the seller and the buyer.
Your Answer b. One of the escrow officer's main functions is to prepare a personalized closing statement for each party to the transaction.
c. The buyers and sellers are both credited and debited for their agreed-upon share of costs.
d. The closing statement is an accounting of funds made to sellers and buyers.
--------------------------------------------------------------------------------
7. What is needed for a valid escrow?
a. A binding purchase agreement contract made between the parties
b. Conditional delivery of transfer documents
c. Conditional delivery of funds
Correct d. All of the above
--------------------------------------------------------------------------------
8. What are escrow instructions?
a. Instructions that outline all terms required to complete the transaction.
b. Instructions only the escrow holder is authorized to perform.
c. Unilateral or bilateral.
Correct d. All of the above
--------------------------------------------------------------------------------
9. What should be scheduled just before the actual closing?
Correct a. A final walk-through of the property.
b. A financing appointment.
c. Approval from the escrow holder.
d. None of the above
--------------------------------------------------------------------------------
10. Which of the following would not be a credit on the buyer's closing statement?
a. Prorated taxes
b. Down payment
Correct c. Appraisal fee
Your Answer d. New loan
4. As a licensee, which form must you use to explain the nature of agency?
a. Disclosure of Agency Law Form
b. Agency Relationship Disclosure Act
Correct c. Disclosure Regarding Real Estate Agency Relationships
d. Real Estate Agency Election Contract
--------------------------------------------------------------------------------
5. Which mandatory disclosure gives prospective buyers the warning that certain hazards may limit your ability to develop the real property, to obtain insurance, or to receive assistance after a disaster?
a. Lead-Based Paint Hazards Disclosure
b. Homeowner's Guide to Earthquake Safety
Correct c. Natural Hazard Disclosure Statement
d. All of the above
--------------------------------------------------------------------------------
6. Sellers always want to know how much they are going to make from the sale of their house. Who should prepare the Estimated Seller's Proceeds sheet?
a. Seller
b. Buyer
c. Lender
Correct d. Listing broker or his or her sales associate
8. Which of the following forms must a homeowner always complete when he or she transfers ownership of his or her home?
Correct a. Transfer Disclosure Statement
b. Lead-Based Paint Hazards Disclosure
c. Methamphetamine Contamination Notice
d. Estimated Seller's Proceeds
--------------------------------------------------------------------------------
9. If one broker represents both the buyer and the seller, it is known as:
Correct a. dual agency.
b. single agency.
c. listing agency.
d. buyer agency.
--------------------------------------------------------------------------------
10. The client (buyer or seller) in an agency relationship is known as the:
a. agent.
Correct b. principal.
c. third party.
d. real estate broker.
The Seller's Advisory form alerts sellers to the various disclosers they need to make regarding the condition of their home and its surroundings. If a home is sold as is, the seller is still required to disclose any observable or hidden defects. Which of the following statements is correct?
a. Observable defects are called latent defects..
Correct b. Observable defects are called patent defects.
c. Hidden defects are called patent defects.
d. All of the above are correct.
In the Residential Listing Agreement Exclusive, if the seller checkmarks the box in the Sign Clause, this authorizes:
a. the broker to sign all documents regarding the sale of the property.
Your Answer b. the broker to put a FOR SALE/SOLD sign of any size on the property.
c. the broker to put a FOR SALE/SOLD sign on the property.
Correct d. does not authorize the broker to put a FOR SALE/SOLD sign on the property.
4. Every sale begins with which challenge?
Correct a. Finding a buyer
b. Understanding technology
c. Representing both the buyer and seller
d. None of the above
--------------------------------------------------------------------------------
5. Why do buyers raise objections?
a. To find out more information about the property
b. They may be having trouble making a decision
c. They may be seeking your guidance or clarification
Correct d. All of the above
--------------------------------------------------------------------------------
6. Which generation is currently the largest in the history of the nation?
Correct a. Baby Boomers
b. Generation X
c. Generation Y
d. Generation Z
--------------------------------------------------------------------------------
7. Which of the following could be considered a buying sign?
a. Lingering and looking at each room several times
b. Potential buyer stating, Which bedroom is Jan's?
c. Touching walls, countertops, and other parts of the home
Correct d. All of the above
--------------------------------------------------------------------------------
8. The NAR Code of Ethics requires REALTORS who represent a buyer or a seller must pledge themselves to:
a. find the best deal on a piece of property.
Correct b. protect and promote the interests of their client.
c. determine how much the client is able to spend.
d. do none of the above.
--------
chapter 11
1. Which of the following could be considered a buying sign?
a. Lingering and looking at each room several times
b. Potential buyer stating, Which bedroom is Jan's?
c. Touching walls, countertops, and other parts of the home
Correct d. All of the above
--------------------------------------------------------------------------------
2. Which of the following statements is incorrect regarding a preapproval letter and pre-qualification?
Correct a. A pre-approval letter is a lender's written commitment to provide a loan that is based on verbal information provided by the buyer.
Your Answer b. A pre-approval letter is a lender's written commitment to provide a loan that is based on a written application provided by the buyer.
c. It is better to get a buyer pre-approved rather than pre-qualified prior to submitting an offer.
d. A preapproval letter states the amount and terms of the loan for which the buyer has been approved.
--------------------------------------------------------------------------------
3. Every sale begins with which challenge?
Correct a. Finding a buyer
b. Understanding technology
c. Representing both the buyer and seller
d. None of the above
--------------------------------------------------------------------------------
4. Before showing prospective buyers a property, it is a good idea to do what?
Correct a. Pre-qualify the buyers.
b. Indicate to the seller the amount of commission you would like.
c. Involve a lender in the sale of the home.
d. Obtain a preapproval letter.
--------------------------------------------------------------------------------
5. When showing properties, an agent should do all of the following except:
a. provide the buyers with a scorecard or paper to note what they like or dislike.
Your Answer b. loan the buyers a digital camera.
Correct c. project a sense of urgency so that they buyers know you are serious.
d. be honest and advise the buyers if there are any hidden negative conditions.
--------------------------------------------------------------------------------
6. Why do buyers raise objections?
a. To find out more information about the property
b. They may be having trouble making a decision
c. They may be seeking your guidance or clarification
Correct d. All of the above
--------------------------------------------------------------------------------
7. When working with buyers or sellers, California requires real estate brokers to:
a. get a 3% commission from seller and the buyer.
Correct b. give them the information and disclosures regarding real estate agency.
c. act as dual agents.
d. always act as single agents.
--------------------------------------------------------------------------------
8. Who is the buyer's broker?
a. An agent who represents only the seller
b. Buyers who represent only themselves.
Correct c. An agent who represents only the buyer.
d. Sellers who represent only themselves.
--------------------------------------------------------------------------------
9. Which generation is currently the largest in the history of the nation?
Correct a. Baby Boomers
Your Answer b. Generation X
c. Generation Y
d. Generation Z
--------------------------------------------------------------------------------
10. The NAR Code of Ethics requires REALTORS who represent a buyer or a seller must pledge themselves to:
a. find the best deal on a piece of property.
Correct b. protect and promote the interests of their client.
c. determine how much the client is able to spend.
d. do none of the above.
a. new real estate laws and regulations.
b. new disclosures.
c. new contracts.
Correct d. all of the above.
--------------------------------------------------------------------------------
2. How can a sales associate prepare for a listing appointment?
Correct a. Send a pre-listing package.
b. Prepare a counteroffer.
c. Write a cover letter.
d. Stage the home.
--------------------------------------------------------------------------------
3. Which of the following is not mandated to be given to the seller by the listing agent upon taking a listing?
Incorrect a. Seller's Advisory
b. Disclosure of Real Estate Agency Relationships
c. Sellers Instruction to Exclude Listing from MLS
d. Residential Listing Agreement
--------------------------------------------------------------------------------
4. When does a buyer have a right to a walk-through?
a. Prior to the home being listed for sale
b. After accepting the offer
Correct c. Prior to closing
d. None of the above
--------------------------------------------------------------------------------
5. How can a real estate professional ensure referrals and future business after a closing?
Correct a. Follow-up and address any questions, problems, or concerns
b. Call the client the day after closing and ask for names of family or friends.
c. Send several expensive gifts to the client.
d. All of the above
--------------------------------------------------------------------------------
6. What should a listing agent do when handling offers and counteroffers?
a. Analyze the offer with the buyer
Correct b. Analyze the offer with the seller
c. Counsel the buyer regarding acceptance of the offer
d. Request a counteroffer from the seller
--------------------------------------------------------------------------------
7. Before writing the offer, it is important to:
a. be sure you understand the seller's needs.
b. say nothing about how the offer will be presented.
c. obtain only the buyer's signature.
Correct d. explain the offer and counteroffer process.
1. When should the salesperson ask for the listing and disclose the agency relationship?
Your Answer a. After the listing presentation
b. Over the phone
Correct c. During the listing presentation
d. As soon as the seller and salesperson meet
--------------------------------------------------------------------------------
2. The real estate industry is constantly changing. Therefore, it is important to stay knowledgeable about market changes and:
a. new real estate laws and regulations.
b. new disclosures.
c. new contracts.
Correct d. all of the above.
--------------------------------------------------------------------------------
3. Before writing the offer, it is important to:
Your Answer a. be sure you understand the seller's needs.
b. say nothing about how the offer will be presented.
c. obtain only the buyer's signature.
Correct d. explain the offer and counteroffer process.
--------------------------------------------------------------------------------
4. How can a sales associate prepare for a listing appointment?
Correct a. Send a pre-listing package.
b. Prepare a counteroffer.
c. Write a cover letter.
d. Stage the home.
--------------------------------------------------------------------------------
5. When does a buyer have a right to a walk-through?
a. Prior to the home being listed for sale
b. After accepting the offer
Correct c. Prior to closing
d. None of the above
--------------------------------------------------------------------------------
6. Every sale begins with which challenge?
a. Deciding what to wear
Correct b. Finding a buyer
c. Setting up an initial meeting
d. Understanding the selling process
--------------------------------------------------------------------------------
7. How can a real estate professional ensure referrals and future business after a closing?
Correct a. Follow-up and address any questions, problems, or concerns
b. Call the client the day after closing and ask for names of family or friends.
c. Send several expensive gifts to the client.
d. All of the above
--------------------------------------------------------------------------------
8. What should a listing agent do when handling offers and counteroffers?
a. Analyze the offer with the buyer
Correct b. Analyze the offer with the seller
c. Counsel the buyer regarding acceptance of the offer
d. Request a counteroffer from the seller
--------------------------------------------------------------------------------
9. Which of the following is not mandated to be given to the seller by the listing agent upon taking a listing?
a. Seller's Advisory
b. Disclosure of Real Estate Agency Relationships
Correct c. Sellers Instruction to Exclude Listing from MLS
d. Residential Listing Agreement
--------------------------------------------------------------------------------
10. Which of the following is not always required disclosures in a real estate transaction?
a. Real Estate Transfer Disclosure Statement
b. Natural Hazard Disclosure
Your Answer c. Agency Relationship Disclosure
Correct d. Lead-based Paint Disclosure
1. Which of the following helps you keep track of all your client information?
a. Global positioning system (GPS)
b. Digital camera
Correct c. Contact management software
d. Microsoft PowerPoint
--------------------------------------------------------------------------------
2. A real estate sales associate's job includes:
a. listening to a buyer's dreams.
b. determining how a buyer's dreams define the kind of house they desire.
c. finding a way to make the buyer's dreams come true.
Correct d. doing all of the above.
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3. What must real estate sales associates do to minimize risk and help protect themselves in the event of a lawsuit?
Correct a. Carefully document every event in a transaction
b. Contact the broker and principal daily
c. Have an attorney on retainer
d. Have the escrow holder handle all of the problems
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4. To be competitive in today's real estate profession, a new real estate salesperson should invest in:
a. a designer purse or status watch.
Correct b. technology, such as a cell phone, digital camera, or computer.
c. an expensive briefcase.
d. a new vehicle.
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5. Which is an example of a start-up cost for a new real estate salesperson?
a. Cell phone bill
b. Car maintenance
c. Coordinator fees
Correct d. Computer equipment
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6. In order to become a great listener you should:
a. contradict the speaker whenever possible.
b. occasionally make eye contact with the speaker.
c. write down everything the speaker says.
Correct d. ask clarification questions.
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7. As a real estate sales associate, the way you dress and present yourself is considered:
a. unimportant.
Correct b. important because you have only one chance to make a good impression.
c. important only if the client is wealthy.
d. unimportant because the client should be interested in your knowledge, not your appearance.
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8. How many months of living expenses should new real estate salespeople set aside until they have a steady income from real estate sales?
a. 1 to 3 months
b. 3 to 6 months
Correct c. 6 to 12 months
d. 12 to 24 months
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9. What is the first step you should take when dealing with a difficult client?
Correct a. Listen carefully to the client's criticism.
b. Interrupt the client with questions to find our more information
c. Tell the client to call back when they are calm.
d. Discuss how you are feeling
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10. Why do many new salespeople leave the real estate business within the first year?
a. They are not prepared for the profession.
b. They are not determined to sell.
c. They do not understand the difficulty and competitiveness of the profession.
Correct d. All of the above
5. Which agreement protects the rights of both the seller and the buyer if the buyer wants early possession of the property, or the seller wishes to remain in possession after the close of escrow?
a. Buyer Occupancy Agreement
Correct b. Interim Occupancy Agreement
c. Early Occupancy Agreement
d. Seller Occupancy Agreement
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6. If the property needs any repairs, they must be done:
a. with permits.
b. in compliance with building codes.
c. before the buyer's final verification of the condition of the property.
Correct d. all of the above.
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7. If a buyer removes any contingencies in writing, it means the buyer has:
a. completed everything pertaining to the contingency.
b. decided to proceed with the transaction.
c. accepted responsibility for completing the transaction.
Correct d. done all of the above.
10. Which of the following statements is incorrect regarding purchase contracts?
a. The RPA-CA contract is used all over California.
Correct b. The California Department of Real Estate requires a specific type of contract.
c. A broker may have an attorney create a purchase contract.
d. All of the above are correct.
What happens to the deposit if a purchase agreement is cancelled?
a. The buyer's deposit, less costs and fees, will automatically be returned.
b. The buyer's deposit, less costs and fees, will be given to the seller.
Correct c. The buyer's deposit, less costs and fees, will be returned once the escrow holder receives a written notice of cancellation signed by both buyer and seller.
d. The buyer's deposit, less costs and fees, will be given to the brokers once the escrow holder receives a written notice of cancellation signed by both buyer and seller.
. What should be done if a dispute arises?
Your Answer a. Both buyer and seller should immediately hire attorneys.
b. The broker should advise the seller or buyer how to handle the dispute.
Correct c. The dispute should try to be settled amicably through mediation or arbitration.
d. None of the above
What occurs if the offer is accepted and signed by the seller and the buyer is notified of the acceptance within the time specified?
Correct a. The offer becomes a legally binding contract.
Which of the following is not included in the Finance Terms section on the C.A.R. form?
Correct a. Allocation of Costs
5. In real estate, a farm area is described as an area:
a. that produces a harvest of fruits and vegetables.
b. in a rural area with large lots.
Correct c. that produces a harvest in the form of listings and sales.
d. where minor league baseball teams play.
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6. To have a successful website, what is the first thing that should be identified?
Correct b. The target audience you are trying to attract
10. In many offices, sales associates are assigned specific times to be in the office to answer questions from buyers responding to newspaper ads and real estate signs. This is called:
Correct b. floor time.
A group of individuals already known to you is called:
a. renters.
b. newlyweds.
Correct c. sphere of influence.
What percentage of a sales associate's commission could be paid to a relocation
company for a referral fee? 25-40
What percentage of buyers used the newspaper to find the home they purchased? 5%
Which statement is correct regarding the Do-Not-Call regulations?
a. State law supersedes federal law.
b. Real estate sales associates may never make cold calls.
c. There are no restrictions on the number of cold calls real estate assistants may make.
Correct d. None of the above are correct.
What techniques should be used when telemarketing?
a. Speak to the person who answers the phone, even if they are not the prospect.
Correct b. Adapt your presentation to the prospect's interests.
When contacting the owner of an expired listing, be sure to:
a. call the owner on the day the listing expires.
b. deliver a pre-listing package to the property and follow up with a call.
Your Answer c. examine the condition of the property and determine if it is priced correctly.
Correct d. do all of the above.
2. Consumers who are attracted to luxury homes will most likely be:
a. first time buyers.
b. consumers who have outgrown the entry-level home.
c. buyers who have had a career change.
Correct d. experienced buyers who are ready to purchase their dream home.
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3. In order to attract buyers and sellers, you must:
a. use personal and property marketing plans.
b. promote a service or product.
c. advertise your marketing concepts.
Correct d. do all of the above.
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4. What describes what you expect to accomplish, what you will do to reach your goals, and what marketing efforts you will make to reach your target group?
a. A property marketing plan
Correct b. A personal marketing plan
c. A real estate sales plan
d. A communication plan
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5. Which of the following statements is incorrect regarding a property marketing plan?
Correct a. It is best to save time by using a plan developed by another salesperson.
b. The plan is a roadmap leading to the sale of a particular property.
c. Emphasize features that may attract buyers.
d. Marketing efforts should be custom designed for each property.
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6. A new salesperson should have:
a. 6-12 month's worth of savings to cover basic living expenses.
b. additional savings to cover business start-up costs.
c. enough money to pay for marketing and advertising.
Correct d. all of the above.
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7. Typical marketing pieces might include:
a. basic black and white brochures.
Correct b. four-color postcards or brochures.
c. stationery, envelopes, and business cards with various logos.
d. none of the above.
Which technique may be used for successful marketing?
a. Limit open houses and property exposure to serious buyers.
b. Use attractive photos of the exterior of the home only.
Correct c. Make buyers aware of special incentives such as seller financing
About how long does a person spend skimming an ad? 4sec
marketing piece that highlights the salesperson's qualifications is called:
Correct a. a career book
Which phrase should not be included in a real estate advertisement because it could be considered offensive?
Correct c. Prefer active resident
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1. What is prepared to verify the legal ownership of the property?
a. Chain of title
b. Cloud of title
Correct c. Preliminary title report
d. Settlement statement
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2. When do homeowners usually pay annual property taxes?
a. March and August
Correct b. December and April
c. July and January
d. October and February
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3. This person is a neutral third party who carries out the provisions of an agreement between a seller and buyer, or a lender and a borrower if the transaction is a loan closing.
a. Escrow holder
b. Escrow officer
Correct c. Either a or b
d. Neither a nor b
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4. What is not considered good funds because it takes several days to process?
a. A cashier's check
b. A certified check
c. Wired funds
Correct d. A personal check
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5. What is an escrow holder's first responsibility upon receipt of the signed purchase agreement?
Correct a. To open an escrow file and create escrow instructions.
b. To notify the buyer and seller.
c. To verify the buyer's employment.
d. To monitor the loan interest rates.
6. Which of the following statements is incorrect regarding closing statements?
Correct a. The escrow holder is not required to prepare a separate closing statement for the seller and the buyer.
Your Answer b. One of the escrow officer's main functions is to prepare a personalized closing statement for each party to the transaction.
c. The buyers and sellers are both credited and debited for their agreed-upon share of costs.
d. The closing statement is an accounting of funds made to sellers and buyers.
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7. What is needed for a valid escrow?
a. A binding purchase agreement contract made between the parties
b. Conditional delivery of transfer documents
c. Conditional delivery of funds
Correct d. All of the above
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8. What are escrow instructions?
a. Instructions that outline all terms required to complete the transaction.
b. Instructions only the escrow holder is authorized to perform.
c. Unilateral or bilateral.
Correct d. All of the above
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9. What should be scheduled just before the actual closing?
Correct a. A final walk-through of the property.
b. A financing appointment.
c. Approval from the escrow holder.
d. None of the above
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10. Which of the following would not be a credit on the buyer's closing statement?
a. Prorated taxes
b. Down payment
Correct c. Appraisal fee
Your Answer d. New loan
4. As a licensee, which form must you use to explain the nature of agency?
a. Disclosure of Agency Law Form
b. Agency Relationship Disclosure Act
Correct c. Disclosure Regarding Real Estate Agency Relationships
d. Real Estate Agency Election Contract
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5. Which mandatory disclosure gives prospective buyers the warning that certain hazards may limit your ability to develop the real property, to obtain insurance, or to receive assistance after a disaster?
a. Lead-Based Paint Hazards Disclosure
b. Homeowner's Guide to Earthquake Safety
Correct c. Natural Hazard Disclosure Statement
d. All of the above
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6. Sellers always want to know how much they are going to make from the sale of their house. Who should prepare the Estimated Seller's Proceeds sheet?
a. Seller
b. Buyer
c. Lender
Correct d. Listing broker or his or her sales associate
8. Which of the following forms must a homeowner always complete when he or she transfers ownership of his or her home?
Correct a. Transfer Disclosure Statement
b. Lead-Based Paint Hazards Disclosure
c. Methamphetamine Contamination Notice
d. Estimated Seller's Proceeds
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9. If one broker represents both the buyer and the seller, it is known as:
Correct a. dual agency.
b. single agency.
c. listing agency.
d. buyer agency.
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10. The client (buyer or seller) in an agency relationship is known as the:
a. agent.
Correct b. principal.
c. third party.
d. real estate broker.
The Seller's Advisory form alerts sellers to the various disclosers they need to make regarding the condition of their home and its surroundings. If a home is sold as is, the seller is still required to disclose any observable or hidden defects. Which of the following statements is correct?
a. Observable defects are called latent defects..
Correct b. Observable defects are called patent defects.
c. Hidden defects are called patent defects.
d. All of the above are correct.
In the Residential Listing Agreement Exclusive, if the seller checkmarks the box in the Sign Clause, this authorizes:
a. the broker to sign all documents regarding the sale of the property.
Your Answer b. the broker to put a FOR SALE/SOLD sign of any size on the property.
c. the broker to put a FOR SALE/SOLD sign on the property.
Correct d. does not authorize the broker to put a FOR SALE/SOLD sign on the property.
4. Every sale begins with which challenge?
Correct a. Finding a buyer
b. Understanding technology
c. Representing both the buyer and seller
d. None of the above
--------------------------------------------------------------------------------
5. Why do buyers raise objections?
a. To find out more information about the property
b. They may be having trouble making a decision
c. They may be seeking your guidance or clarification
Correct d. All of the above
--------------------------------------------------------------------------------
6. Which generation is currently the largest in the history of the nation?
Correct a. Baby Boomers
b. Generation X
c. Generation Y
d. Generation Z
--------------------------------------------------------------------------------
7. Which of the following could be considered a buying sign?
a. Lingering and looking at each room several times
b. Potential buyer stating, Which bedroom is Jan's?
c. Touching walls, countertops, and other parts of the home
Correct d. All of the above
--------------------------------------------------------------------------------
8. The NAR Code of Ethics requires REALTORS who represent a buyer or a seller must pledge themselves to:
a. find the best deal on a piece of property.
Correct b. protect and promote the interests of their client.
c. determine how much the client is able to spend.
d. do none of the above.
--------
chapter 11
1. Which of the following could be considered a buying sign?
a. Lingering and looking at each room several times
b. Potential buyer stating, Which bedroom is Jan's?
c. Touching walls, countertops, and other parts of the home
Correct d. All of the above
--------------------------------------------------------------------------------
2. Which of the following statements is incorrect regarding a preapproval letter and pre-qualification?
Correct a. A pre-approval letter is a lender's written commitment to provide a loan that is based on verbal information provided by the buyer.
Your Answer b. A pre-approval letter is a lender's written commitment to provide a loan that is based on a written application provided by the buyer.
c. It is better to get a buyer pre-approved rather than pre-qualified prior to submitting an offer.
d. A preapproval letter states the amount and terms of the loan for which the buyer has been approved.
--------------------------------------------------------------------------------
3. Every sale begins with which challenge?
Correct a. Finding a buyer
b. Understanding technology
c. Representing both the buyer and seller
d. None of the above
--------------------------------------------------------------------------------
4. Before showing prospective buyers a property, it is a good idea to do what?
Correct a. Pre-qualify the buyers.
b. Indicate to the seller the amount of commission you would like.
c. Involve a lender in the sale of the home.
d. Obtain a preapproval letter.
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5. When showing properties, an agent should do all of the following except:
a. provide the buyers with a scorecard or paper to note what they like or dislike.
Your Answer b. loan the buyers a digital camera.
Correct c. project a sense of urgency so that they buyers know you are serious.
d. be honest and advise the buyers if there are any hidden negative conditions.
--------------------------------------------------------------------------------
6. Why do buyers raise objections?
a. To find out more information about the property
b. They may be having trouble making a decision
c. They may be seeking your guidance or clarification
Correct d. All of the above
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7. When working with buyers or sellers, California requires real estate brokers to:
a. get a 3% commission from seller and the buyer.
Correct b. give them the information and disclosures regarding real estate agency.
c. act as dual agents.
d. always act as single agents.
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8. Who is the buyer's broker?
a. An agent who represents only the seller
b. Buyers who represent only themselves.
Correct c. An agent who represents only the buyer.
d. Sellers who represent only themselves.
--------------------------------------------------------------------------------
9. Which generation is currently the largest in the history of the nation?
Correct a. Baby Boomers
Your Answer b. Generation X
c. Generation Y
d. Generation Z
--------------------------------------------------------------------------------
10. The NAR Code of Ethics requires REALTORS who represent a buyer or a seller must pledge themselves to:
a. find the best deal on a piece of property.
Correct b. protect and promote the interests of their client.
c. determine how much the client is able to spend.
d. do none of the above.
Monday, March 17, 2008
5 cakes 2 fish
first know how to organise people if you want to be successful
then
know what resource you get like countable 5 cakes 2 fishes
let god do the job
..what else
then
know what resource you get like countable 5 cakes 2 fishes
let god do the job
..what else
2 guys walk upstair = our life
2 guys walks up on stairs due to broken elevator,
drop bag, argue, quit but finally left key in the bag
are
analogous
drop dream, debating at work, giveUp everything when old, but finally have no access to heaven too
amazing stories from danny always 03/16/08sun
drop bag, argue, quit but finally left key in the bag
are
analogous
drop dream, debating at work, giveUp everything when old, but finally have no access to heaven too
amazing stories from danny always 03/16/08sun
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