Colibri Chapter Quiz Questions 100% Correct Answers Verified 2024 Version
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Colibri Chapter Quiz Questions | 100%
Correct Answers | Verified 2024 Version
A licensee who is interested in retail stores and shopping centers should look into entering:
residential real estate.
commercial real estate.
real estate counseling.
real estate appraisal. - Commercial
Of the foll...
Colibri Chapter Quiz Questions | 100%
Correct Answers | Verified 2024 Version
A licensee who is interested in retail stores and shopping centers should look into entering:
residential real estate.
commercial real estate.
real estate counseling.
real estate appraisal. - ✔✔Commercial
Of the following, which would NOT likely be a prospect?
Blogs
FSBOs
People in your target audience
Sphere of influence - ✔✔Blogs
Which of the following is considered the most important factor in real estate value due to the limited
supply of land and immobility of real estate?
Location
Price
Appearance
Size - ✔✔Location
What do most new real estate licensees do after passing the state exam and receiving the state license?
Begin investing in real estate
Become a real estate attorney
Join a brokerage that has a training program
Open their own real estate firm - ✔✔Join a Brokerage that has a training program.
, Which of the following is not one of the six separate areas of a licensee's activities?
Prospecting for listings
Previewing properties and matching prospective buyers with properties
Representing clients in real estate law cases
Attending meetings - ✔✔Represent Clients in real estate law cases
What is the purpose of prospecting?
Creating a list of customers for the MLS
Defining the target market
Identifying potential customers
Determining market value - ✔✔Identifying potential customers
The majority of new licensees begin their careers with a:
mentor.
personal assistant.
attorney.
public relations specialist. - ✔✔A mentor
All of the following are characteristics of a real estate market, EXCEPT that it:
is a unique product.
has a limited number of buyers and sellers.
has a high mobility of product.
has a local and segmented market. - ✔✔Has a high mobility of product
The real estate markets are driven by the business climate and activity in the economy, which are
continuously changing. The changes occur as trends and cycles. Trends are:
changes in the market in a consistent direction that occur over a long-term period.
geographic, economic, or specialized subdivision of a market.
fundamental principles in determining the price of a commodity.
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