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Post License Course (Barney Fletcher) Exam Practice Questions and Answers
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Post License Course (Barney Fletcher) Exam Practice Questions and Answers Within the first five years around ___% of agents leave the real estate business - ANSWER-80-90% For buyers what are the five steps of the pre-qualification process - ANSWER-1. Urgency 2. Motivation 3. Financial Ability ...

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  • November 11, 2024
  • 124
  • 2024/2025
  • Exam (elaborations)
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  • post license course barney fletcher exam practic

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Post License Course (Barney Fletcher)

Exam Practice Questions and Answers


Within the first five years around ___% of agents leave the real estate business - ANSWER✔✔-80-90%


For buyers what are the five steps of the pre-qualification process - ANSWER✔✔-1. Urgency


2. Motivation


3. Financial Ability


4. Wants and Needs


5. Agency


For sellers what are the five steps to the first appointment - ANSWER✔✔-1. Urgency


2. Motivation


3. Concerns


4. Expectations


5. Hesitations


A person who may be willing to engage in a real estate transaction - ANSWER✔✔-Prospect


A person who is willing to perhaps have a conversation but has no real desire to engage in a real estate

transactions - ANSWER✔✔-Suspect




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In determining whether a person is a suspect or a prospect we must consider - ANSWER✔✔-Urgency

and motivation


When setting goals, its important they be - ANSWER✔✔-Specific


Measurable


Attainable


Realistic


Timely


Most common type of target market is a particular neighborhood of homes - ANSWER✔✔-Farming


A ______ analysis can be helpful in analyzing your strengths and weaknesses, which can sometimes help

you pick the target market that is best for you - ANSWER✔✔-SWOT


The primary objective of any type of real estate prospecting is to - ANSWER✔✔-Generate an

appointment


The ratio that is computed by dividing the number of homes sold in a year by the total number of homes

in the farms - ANSWER✔✔-Turnover ratio


A method of prospecting that will involve the telephone, but only as part of a mix of different types of

contacts - ANSWER✔✔-Circle prospecting


A ______ agent has more control than a _____ agent - ANSWER✔✔-Listing/selling


This involves only one appointment with the prospective sellers. Licensee makes the presentation, show

the recommended price through CMA and try to get sellers to sign the listing contract - ANSWER✔✔-1-

step listing presentation

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What is the best way to establish a personal brand in real estate - ANSWER✔✔-To develop a good

reputation


Which of the following choices is the most common way buyers find a house they purchased -

ANSWER✔✔-Internet


What is the most important part of your "brand" in your real estate career - ANSWER✔✔-Your

reputation


When a real estate licensee focuses his or her prospecting efforts on a particular neighborhood or type

of buyer is the licensee's - ANSWER✔✔-Target market


As a real estate agent your primary product is - ANSWER✔✔-Your contacts


When the number of listings by a particular firm is divided by the total number of listings in that

neighborhood, the result is the - ANSWER✔✔-Market share


Which of the following is the best way to ask for a referral - ANSWER✔✔-Who do you know who might

be looking to buy or sell a house


The process of ensuring that the interior and exterior of a home are as attractive as possible is known as

- ANSWER✔✔-Staging


The types of media used to generate new business is known as the - ANSWER✔✔-Promotional mix


When doing the initial tour of a house before making a listing presentation, one goal should be to -

ANSWER✔✔-Get the sellers to view the property from the standpoint of a typical buyers rather than a

seller




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A buyer has made an offer on a seller's house. The offer gives the buyer 10 days to have a licensed home

inspection of the property and to cancel the offer if the inspection reveals significant necessary repairs

unknown to the buyer. This is an example of - ANSWER✔✔-Contingency clause


Which of the following types of sales of a personal residence would require a third-party approval before

the sale could be closed - ANSWER✔✔-A bankruptcy, a divorce, or a short sale


What is the most important factor in qualifying a prospective buyer - ANSWER✔✔-Whether the prospect

is financially qualified to purchase a home


In deterring whether or not to issue a pre-approval letter, the lender would consider - ANSWER✔✔-

Principal, interest, property taxes, and insurance


What is the purpose of using an assumptive close - ANSWER✔✔-To make it easier for the buyer to say

yes


If the buyer and seller agreed that the buyer would purchase the patio furniture as part of the contract,

this would appear in which section of the Purchase and Sale agreement - ANSWER✔✔-Special

Stipulations


A loan point is - ANSWER✔✔-One percent of the loan amount


Assuming the buyers ride in your car, the time spent in the car can be put in good use by - ANSWER✔✔-

Discussing the positive features of the neighborhood


what is the biggest difference between traditional telemarketing and circle prospecting? - ANSWER✔✔-

circle prospecting requires. follow-up




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