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chapter 3 quiz questions only – answers will be revealed with any Post-License subscriptions
1 of 10 – Which of the following is NOT an exception to the Do-Not-Call laws?
You can call someone you have conducted business with within the last 18 months.
You can call in response to advertisements or signs.
You can call as long as you block your company name and number.
You can call for up to three months after someone has inquired about your services.
2 of 10 – You are trying to select a “farm” area and you have narrowed the choices down to four areas, as follows. Among the alternatives, which would be the best choice?
A high-end neighborhood on the other side of town. It may only have 50 homes, but the higher sales commissions will make up for it.
An area about five miles from your office that has 250 homes.
A new subdivision with 30 new homes.
An area close to your own house, where the 125 homes are similar to yours and familiar to you.
3 of 10 – What should you give to potential customers when prospecting door-to-door?
A sample CMA (Competitive Market Analysis)
Your business plan
Your business card
4 of 10 – Once you have sent your friends and family a letter of introduction regarding your real estate practice?
You should not call them.
You should follow-up with a phone call in 7 – 10 days.
You should wait a week to see if anyone calls you. If they do not, you should send them another letter.
You should follow-up with a phone call in a day or two.
5 of 10 – If you prefer meeting people face-to-face, select a neighborhood and go knocking on doors. When you go, you should?
Carry a copy of your business plan to show prospective clients.
Find out the owners’ names so that you can address them by name when they answer the door.
Dress casually so people feel more comfortable.
6 of 10 – What is the primary advantage of selling your own home without an agent?
That you know more about real estate than an agent
That you do not have to pay $1000’s in the form of a commission
More expansive marketing exposure
That the Real Estate Recovery Fund will pay you up to $100 a month
7 of 10 – When someone whose previous listing expired tells you mistakes the previous agent made?
Point out how unprofessional their previous agent was, and promise to do better.
Defend the other agent. You guys have to stick together!
Comment on the action, not the agent, and explain how a different action might produce different results next time.
Ignore the comments and just sell them on your marketing plan.
8 of 10 – What type of legal notice would most likely provide leads?
9 of 10 – Which of the following is most important to have on a licensee’s personal website?
A picture of the licensee and their family
Information on the licensee’s farming zone
The licensee’s contact information
A list of past transactions
10 of 10 – When prospecting FSBOs?
Let them know that the house will sell for a lower price because it is not being marketed by an agent.
Take a C.M.A. (Competitive Market Analysis) and give them a listing price.
Call and ask if you can view the house and ask if they are willing to work with you if you find a buyer.
Tell them you have a buyer, even if you do not. It is the easiest way to get your foot in the door.