Quiz 1
Real Estate Knowledge Quiz
Test your understanding of real estate buying practices with our engaging quiz! Designed for aspiring real estate professionals, this quiz will challenge your knowledge on property transactions, communication with owners, and negotiation strategies.
Highlights of the quiz:
- 25+ Multiple choice questions
- Designed for beginners and experienced individuals
- Learn about effective communication and negotiating techniques
Which one of these do we buy?
A property listed by owner
A property listed by realtor
A property not listed on the market
A & B
A & C
All of the above
Which one of these properties we DON'T buy?
Vacant land
Agricultural land
Commercial land
Apartments
A property in a bad condition
What do you do when an owner asks you a question you don't know?
Hang up
Say "i don't know"
Try to evade it smoothly and ask him something
"I'm not allowed to disclose that info"
If the mv is $93,750 which one of these asking prices is acceptible?
$93,750
$92,000
$112,500
All of the above
If the mv is $830,100 which one of these asking prices is acceptible?
$1.1M
$996,120
None of the above
All of the above
Tick the things you're allowed to say
"your asking price is fine. We can work with that"
"would you be interested to hear an offer on your property?"
"my manager will call you back with an offer"
"so what price can we offer you to make you interested to sell?"
"oh yeah here's my email FalseInfo@gmail.com"
"I speak Arabic too by the way!"
"so if we can meet you at this price, how soon do you wanna do the closing?"
"have a lovely day!"
If the call started but the owner didn't answer and he didn't reply to me over the phone, how should I dispose this call?
Not available
Wrong number
Voice mail
Do not call
If a person answers the phone by saying "bueno!"
Ask them if they can speak English if no then dispose as do not call
Ask them if they can speak English if no then dispose as a call back after 3 months
Hang up
Don't ask if they speak English and just post their number on the group for someone to call them
What info do you need to get for vacant lots?
Number of bedrooms and bathrooms
If it has access to utilities
If he has done any kind of updates to it
You asked the owner about his reason for selling his property and he replied with it's because you called me
It's okay the offer is a valid reason for selling
Just the offer isn't a valid reason for selling
If the owner wasn't sure that he might be able to do the closing on his property within 6 months what should I say?
It's okay we can wait more than 6 months
Let him know that 6 months is our MAXIMUM
When should I put do not call as my disposition?
When they say do not call me again
When they say put me on your do not call list
When they say they're on the federal do not call list and/or will sue
The owner asked about your location
Say the state he's in and you're working from home
Egypt
Washington
An owner swears at you
Swear back at him
Calmly handle it then hang up
Stir him up more
You're speaking to an old person
Talk fast and loud
Talk in a quiet and slow voice
Talk slow and loud
Talk in a quiet and fast voice
The owner keeps talking to you about their dog
Hang up
Engage in the conversation then continue your talk
Ask them not to talk about anything else
What does the audit do?
Monitor calls even if they're not leads
Monitor calls only if they're leads
Quality assurance
A lead's asking price is above the MV by 25% even after negotiation
Don't push the lead
Push the lead anyway
Get back to my team leader to see if I can push the lead
Do we buy mobile homes?
Yes
No
An owner has an irrational asking price
Hang up
Ask if it's negotiable and mention our benefits
Ask if they have another property they'd REALLY consider selling
B & C
You haven't heard the address well
Ask the owner to repeat it
Pretend that you heard it and move on
We don't keep tenants
True
False
How do you deal with a window shopper who don't wanna answer any questions?
Explain to them why you're asking these questions
Hang up
Laugh
Continue asking even after they refuse to answer questions
What does Ln. In address stand for?
Land
Lane
Long
What state is CA?
Colorado
Connecticut
Cambodia
California
What is the max wrap up time?
From 15 to 20 seconds
30 seconds to 1 minute
1 minute
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