Champions Powerhouse Training SAE 146 Questions with Verified Answers,100% CORRECT

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Champions Powerhouse Training SAE 146 Questions with Verified Answers An area of neighborhoods or sub divisons that is serviced by your firm. - CORRECT ANSWER Geographic Farm A plan by which yo... u develop to gain name recognition - CORRECT ANSWER Marketing Plan Becoming different in your approach through growth and development - CORRECT ANSWER differentiate All the properties in a particular price range, in the area your firm services - CORRECT ANSWER economic farm Words or content by which top producers are using to be successful. - CORRECT ANSWER hot buttons Building _____________________________ comes from developing a marketing plan that is outside the box, something that separates you from others - CORRECT ANSWER Name Recognition How do you learn about your market area? - CORRECT ANSWER Drive it, do open houses, and research it is the process by which the real estate agent finds out what potential clients know and what they need - CORRECT ANSWER receiving six basic fears - CORRECT ANSWER 1. The fear of poverty 2. The fear of criticism 3. The fear of ill health 4. The fear of lost love 5. The fear of death 6. The fear of old age To avoid this fear or to deal with this fear one must have a budget and stick to the budget. - CORRECT ANSWER fear of poverty This fear is one we all must accept. - CORRECT ANSWER fear of criticism Preventative measures are the answer to this fear. Eat to live, not live to eat. - CORRECT ANSWER fear of ill health For this fear, make sure they know today how much you love them. Tell those that are special to you how much they mean to you - CORRECT ANSWER fear of lost love Everyone is going to die. Accept it. Make the most of the time you have with the people you love. - CORRECT ANSWER fear of death What is the alternative to old age? Death? I'll take getting old any day. You are only as old as you act, look and believe. - CORRECT ANSWER fear of old age One of the biggest fears of independent contractors is the fear of the - CORRECT ANSWER unknown Everyone has a sphere of influence (SOI) of at least ------- people - CORRECT ANSWER 150 of your SOI, _____% are either going to buy, sell, or refer a real estate deal in the next 18 months - CORRECT ANSWER 80 Contact your sphere of influence at least _____ times a year, taking no one for granted - CORRECT ANSWER 4 It is better to ___________ promise and ___________ deliver - CORRECT ANSWER under, over Many software packages are represented on the site, offering hours of training video. - CORRECT ANSWER lynda.com CRM - CORRECT ANSWER Customer Relationship Manager Market to your area for a minimum of six months with at least ______ different marketing strategies going at the same time. - CORRECT ANSWER 3 A number of marketing experts recommend that a workable farm should contain between ________________ homes. - CORRECT ANSWER 400 and 500 Pull a "hot sheet" from the MLS and contact at least _____ status changes a week - CORRECT ANSWER 25 Advertise "Just Solds" in your farm, even if ___________________________ - CORRECT ANSWER you did not sell them 3 Step Process for Farming your area: - CORRECT ANSWER Telephone call, mail, and personal visit Agents may not make cold calls to numbers in the - CORRECT ANSWER National Do-not-call Registry The Federal Trade Commission (FTC) fines telemarketing companies up to $_______________ for each call to a member of the Do-Not-Call list. - CORRECT ANSWER 16,000 Tips for this generation: mailers, large print, anti-glare paper - CORRECT ANSWER GI Generation Tips for this generation: present credentials and awards, advertise benefits and not features - CORRECT ANSWER Silent Generation Studies show that 78% of homeowners in this generation prefer one-stop shopping. They would pay extra for this service. Use phrases like "just go for it" or I'd do it if it were me - CORRECT ANSWER Baby Boomers Tips for this generation: use technology, negotiating may be competitive and confrontational - CORRECT ANSWER Generation X Largest market of consumers for you to sell to - CORRECT ANSWER millennials Immigrants make up ____ of Generation X's firsttime home buyer population - CORRECT ANSWER 1/3 Statistically, millennials are getting married and moving out of their parents' homes _______ than previous generations. - CORRECT ANSWER later Every aspect of real estate involves some level of _____________ - from commissions, listing agreements, buyer's agreements, just to name a few - CORRECT ANSWER negotiation The average turnaround response for mailers is _______%. - CORRECT ANSWER 1 A brokerage needs to download the updated Do-Not-Call Registry at least every ____ days. - CORRECT ANSWER 31 The primary market of buyers today is the 25 to ___-year-old range - CORRECT ANSWER 79 The "Boom Echo" is comprised of ____ million potential future homebuyers. - CORRECT ANSWER 70 You should try to call at least ______ people per day from your sphere of influence and rotate alphabetically. - CORRECT ANSWER 5 Which of the following is not a method for selecting a farm area that is discussed in the text? a. Choose the most expensive homes so your commission will be bigger b. Choose an area near your office c. Research the average list and sales prices for an area d. Find out where your fellow agents are farming - CORRECT ANSWER a When is the best time to make cold calls? - CORRECT ANSWER In the afternoon or early evening Which of the following activities could help agents boost their marketing platforms? a. Posting the testimonials of satisfied clients on their websites b. Posting a YouTube video of a listing c. Visiting the HOAs of the neighborhoods they work in d. All of these could help agents boost their marketing platforms - CORRECT ANSWER d An announcement of a company's long term goals - CORRECT ANSWER mission statement When clients are contacting you and seeking you out - CORRECT ANSWER referral The act of searching for clientele - CORRECT ANSWER prospecting A goal that ranges from several months to a year - CORRECT ANSWER short term goal A fee paid to a sales agent for transacting business or performing a service - CORRECT ANSWER commission There are 3 things an agent has to do every day: - CORRECT ANSWER Prospect, Show, and Close listing and selling, prospecting, qualifying, marketing your listing - CORRECT ANSWER income generating activities following through on transactions with arranging financing, title company communications, attending seminars, educational programs to improve your skills and increase your self confidence and credibility - CORRECT ANSWER support activities The study reveals that the 3% category of entrepreneurs - the ones that wrote down their goals - earn as much as ______ times more than the other 97%. - CORRECT ANSWER 10 Goals must be in - CORRECT ANSWER writing help define how the work will be accomplished, and they articulate a set of beliefs and principles that guide the way the company conducts business. You want to make sure that your goals align with your mission statement. - CORRECT ANSWER values statement Communication frequency should be, at minimum,__________ - CORRECT ANSWER monthly The average prospect to sales ratio is ____ prospects to 1 sale. - CORRECT ANSWER 25 Getting up ___ minutes earlier will help you avoid stress, tardiness, and unnecessary feelings of anxiety. - CORRECT ANSWER 20 There are ______ things an agent has to do every day - CORRECT ANSWER 3 Long-term goals range from ____ to ___ years or more. - CORRECT ANSWER 5 to 10 According to Harvard Business School ____% have goals in mind, but they do not write them down. - CORRECT ANSWER 13 Only ___% of entrepreneurs write down their goals. - CORRECT ANSWER 3 Mission statements are most successful when they describe - CORRECT ANSWER what the company does and why Goals should be attainable, flexible and - CORRECT ANSWER measurable Listing service that allows a private offer of cooperation and compensation by listing brokers to other real estate brokers - CORRECT ANSWER MLS Sum of monthly principal, interest, taxes, and insurance - CORRECT ANSWER PITI Loans which are neither insured nor guaranteed by the federal government - CORRECT ANSWER conventional This agreement, in effect, "lists" the buyer as your client - CORRECT ANSWER buyer representation agreement 3 ways you add value to the buying process - CORRECT ANSWER counseling, negotiating, and managing the transaction lenders will not allow borrowers to spend more than _______% of their monthly income on PITI, the sum of monthly principal, interest, taxes, and insurance, so be realistic. - CORRECT ANSWER 28 Most have started their home search online and have found a mortgage lender through a site like - CORRECT ANSWER lendingtree.com loans which are insured by the government These loans require a small down payment, and are obtained through approved lenders - CORRECT ANSWER FHA loan guaranteed by government. Need certificate of eligibility, Must sign document stating he/she will occupy the property - CORRECT ANSWER VA Back ratio for qualifying is monthly income * _______ % rather than the normal 28% - CORRECT ANSWER 36 According to NAR's research, the majority of buyers under the age of _______ take their first step toward home buying by looking online for properties - CORRECT ANSWER 71 Note also that intermediary consent must be obtained _______ - CORRECT ANSWER in writing The buyer's representative is paid only if the client buys a home. Buyers are accustomed to this because it works similarly to a listing agreement. - CORRECT ANSWER contingency fee This fee is the responsibility of the buyer even if they do not buy a home. Meaning, that you are being paid for your valuable time and expertise. Be sure that your clients are clear on this fact before they sign - CORRECT ANSWER non contingency fee Buyer's agents can negotiate a flat fee or an hourly rate for performing certain services specific to the purchase. - CORRECT ANSWER consultant fee An agent may not deceive, defraud, or otherwise deal with a customer in a dishonest manner. - CORRECT ANSWER honest duty This means that an agent will be held to the standards of knowledge, expertise, and ethics that are spelled out in the Texas Real Estate License Act - CORRECT ANSWER reasonable care and skill in performance A buying signal is something a prospect says or does that indicates a positive buying decision may occur. - CORRECT ANSWER buying signal This document can empower your buyer by providing them with information on topics that can sometimes cause confusion on the part of the buyer during the process. - CORRECT ANSWER TAR 1506 5 most common hidden defects - CORRECT ANSWER 1. Bad foundation 2. Worn roof 3. Poor water drainage 4. Termite infestation 5. Inadequate plumbing and/or electric wiring Karen works successfully through Henry's objections, and he agrees to take the plunge by making an offer on the property. What should Karen do next? a. Karen should provide Henry with as much market information as possible b. Karen should do a CMA on the property to help Henry come up with a realistic offer c. These are all things that Karen should do to ensure that she serves Henry's best interests - CORRECT ANSWER c 3 main ways buyers take in information - CORRECT ANSWER visual, auditory, kinesthetic This listing gives the seller the right to list the property with multiple competing brokers and to sell the property personally without liability for payment of a commission - CORRECT ANSWER open listing Subagency disclosures are more stringent due to this law - CORRECT ANSWER Senate Bill 489 Under such listings, the seller establishes a minimum, acceptable net price. - CORRECT ANSWER net price An employment contract used by sellers to employ a real estate broker,or brokerage firm, to find a buyer for their property. - CORRECT ANSWER exclusive right to sell When a license holder is not associated with the seller's broker but is representing the seller through a cooperative agreement with the seller's broker. - CORRECT ANSWER subagency it is a good idea to get rid of posters, unusual paint colors or very outdated wallpapers. Neutral colors sell better for the simple reason that they blend in with the things buyers already have, rather than clashing. - CORRECT ANSWER Neutralizing the final touch is a bit of glamour, which makes your home stand out as one the buyers want to live in. Plants, attractive table settings in the dining room, fire in the fireplace, background music, plenty of light, pleasant aromas and a welcoming attitude are a sure way to win in the selling game. - CORRECT ANSWER Dynamicizing If you are a buyer's agent, you can request _______ compensation than the listing broker entered into the MLS for cooperating brokers. - CORRECT ANSWER more 4 reasons a house doesnt sell - CORRECT ANSWER price, location, condition, market plan Who is the procuring cause of a real estate transaction? a. The listing broker b. The first broker who sells the property c. The first broker to sue for commission d. The mortgage originator - CORRECT ANSWER b Which statement regarding net listings is false? a. Net listings are considered unethical and are illegal in Texas b. Net listings are the preferred listing amongst brokers c. Net listing always produce the best price and brokerage service for the seller d. All of these statements are false - CORRECT ANSWER d The power TREC has to make legal decisions and judgment - CORRECT ANSWER jurisdiction The commission that all license holders in Texas are required to adhere to the provisions of - CORRECT ANSWER TREC A real estate broker or sales agents, while acting as an agent for another - CORRECT ANSWER fiduciary Highly regarded as a model for ethical conduct, that it became the basis for real estate license laws in many cases - CORRECT ANSWER Code of Ethics a disciplinary action that can be warranted by the grievance pane - CORRECT ANSWER reprimand A business practice may not be ________ even if it is legal - CORRECT ANSWER ethical is defined as acting in strict regard for what is considered right or proper; punctiliously exact; painstaking - CORRECT ANSWER Scrupulously defined as marked by extreme or excessive care in the consideration or treatment of details; careful. - CORRECT ANSWER Meticulously employment of prudence and caution so as to avoid misrepresentation, in any way, by acts of commission or omission - CORRECT ANSWER integrity Each real estate inspector or active real estate broker licensed by the Texas Real Estate Commission shall display - CORRECT ANSWER CN 1-2 notification that there were items revealed in the investigation that do not warrant disciplinary action but, if not corrected, could lead to further complaints and, ultimately, disciplinary action. - CORRECT ANSWER advisory letter Which two things are you not required to disclose to buyer - CORRECT ANSWER HIV related death or suicide DTPA affects - CORRECT ANSWER real estate advertising Where can you find the Canons of Professional Ethics and Conduct for real estate license holders? - CORRECT ANSWER Rules of the Commission The Code of Ethics and Standards of Practice is designed for _______ to adhere to. - CORRECT ANSWER REALTORS Before using Facebook, creating a ________ will help you build an online persona and develop the professional relationships desired for your business. - CORRECT ANSWER posting plan A _________ should be someone that you wish to emulate and that espouses the level of success and philosophy that you respect. - CORRECT ANSWER mentor What does GRI stand for? - CORRECT ANSWER Graduate Realtor Institute Which of the following designations/courses are helpful and informative for real estate agents? a. E-Pro b. ABR c. CRS d. All of these are helpful for real estate agents - CORRECT ANSWER d A REALTOR® could be called a _______________ ________________. - CORRECT ANSWER problem solver A REALTOR® shall not ________________ ___ ____________ in or buy for themselves or any immediate family member without disclosing this to the owner or owners agent according to article 4 of the Code of Ethic - CORRECT ANSWER acquire an interest An agent must not take ______________ personally - CORRECT ANSWER objections . The successful agent continually grows through ____________ __________. - CORRECT ANSWER continuing education The attraction to real estate sales is the ____________ capital investment. - CORRECT ANSWER low A closing technique is a natural ______________ to the sales process. - CORRECT ANSWER conclusion ___________ means six months or more - CORRECT ANSWER Consistency Standard of Practice 12-5, Realtors® Code of Ethics states the REALTOR® shall not advertise nor permit any person employed by or affiliated with him to advertise listed property without _______________ the name of the firm - CORRECT ANSWER disclosing Under the Texas _________, false, misleading or deceptive acts or practices in the conduct of any trade or commerce are declared unlawful and the subject to action by the consumer protection division. - CORRECT ANSWER DPTA Create your own ____________ either first thing in the morning or the night before - CORRECT ANSWER to-do-list ABR - CORRECT ANSWER Accredited Buyer Representation CRS - CORRECT ANSWER Credited Residential Specialist Beware of this group of people who send emails requesting personal or private information such as passwords, credit card numbers or bank account numbers - CORRECT ANSWER Phishers Every aspect of real estate requires this skill including commissions, listing agreements, buyer agreements, etc. - CORRECT ANSWER negotiation The process by which the buyer pays for the property and the sellers conveys title. - CORRECT ANSWER closing Forms that stipulate that possession be delivered to the buyer upon closing. - CORRECT ANSWER promulgated contracts A process that begins after the terms of the contract have been negotiated and it has been signed - CORRECT ANSWER transaction An offer that is made in response to another - CORRECT ANSWER counteroffer A corrected Closing Disclosure must be provided to the consumer if a __________________ is added - CORRECT ANSWER prepayment penalty A short term goal is ______________ - CORRECT ANSWER several months to a year Which of the following items is typically charged to the seller? - CORRECT ANSWER existing loan payoff What is a Pathways professional courtesy? - CORRECT ANSWER not allowing unaccompanied access to a property without permission Be sure to go over Seller's disclosure with buyers before they sign - CORRECT ANSWER earnest money contract Net listings are outlawed in many - CORRECT ANSWER states what should you say when dealing with price objections? - CORRECT ANSWER Realtors do not control the market, consumers do A reprimand is from the - CORRECT ANSWER grievance panel emailing is as important as live - CORRECT ANSWER telephone calls real estate professionals can invite visitors to ________________ on their wikis - CORRECT ANSWER comment about the community accreditation that keeps you operating ethically - CORRECT ANSWER ABS [Show More]

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