Champions Real Estate Marketing SAE 122 Questions with Verified Answers
Most common reason a property fails to sell is - CORRECT ANSWER
... [Show More] price
Matching human needs with goods or services to meet those needs is the process of - CORRECT ANSWER marketing
_____________________ is a key personality trait of a successful agent - CORRECT ANSWER problem solving
3 Ways Sales Agents Add Value to the Buying Process - CORRECT ANSWER Counseling, Negotiating, and Managing the transaction
Four P's of marketing real estate - CORRECT ANSWER product, promotion, price and place
How can you know your product? - CORRECT ANSWER Inspect company listings
• Travel your geographic area
• Practice writing offers
• Do net sheet calculations on your own house
AIDA - CORRECT ANSWER (The four psychological
steps of a sale: attention, interest, desire and action).
states that rational buyers will pay no more for a
property than they would for an equally desirable,
comparable property. - CORRECT ANSWER The principle of substitution in real estate valuation
Marketing to a specific age group is sometimes called - CORRECT ANSWER generational selling
An acronym for the psychological steps of a sale is - CORRECT ANSWER AIDA
A willingness to change and grow your marketing plan demonstrates to concept of
____________. - CORRECT ANSWER adaptation
To be an effective problem solver, it is beneficial to understand .... - CORRECT ANSWER basic human needs and the psychological
steps involved in a sale
defined as expected benefits to be received as a result of ownership - CORRECT ANSWER amenities
Objectives should be - CORRECT ANSWER measurable and achievable as well as timely.
Goals should be - CORRECT ANSWER attainable, flexible, measurable, and time frame
shot gun method - CORRECT ANSWER often the preferred choice for new agents until they realize that they can't possibly take
on such a large-scale market
4 types of buyers - CORRECT ANSWER -first time buyers
-relocators
-upgraders
-investors
communication is - CORRECT ANSWER transcribing and receiving/ talking and listening
Marketing budget goals should be set for a minimum
of ___________, realistically more - CORRECT ANSWER 6 months
_______ drive the market - CORRECT ANSWER consumers
Agents should "listen" not only to what the client is
saying, but also to ___________________. - CORRECT ANSWER body language
To be an effective problem solver, a real estate agent should understand the __________ involved
in a sale. - CORRECT ANSWER psychological
In which emotional phase is the buyer ready to buy? - CORRECT ANSWER Act
Gathering data, analyzing it and drawing conclusions based on it describes - CORRECT ANSWER marketing research
Analyzing strengths, weaknesses, opportunities, and threats is referred to as a - CORRECT ANSWER SWOT analysis
A report prepared by an agent to help a seller realistically price their property is a - CORRECT ANSWER CMA
SWOT - CORRECT ANSWER strength, weakness, opportunities and threats - marketing research analysis
CMA - CORRECT ANSWER comparative market analysis
Two kinds of market research - CORRECT ANSWER primary and secondary
primary research is ________ focused - CORRECT ANSWER customer, examples email surveys, mail surveys, closed transactions
secondary research is more ___________________ and can be ___________________ - CORRECT ANSWER more in depth and can be quite complex, expensive, and time consuming
Secondary research is ___________________ and includes ______________ - CORRECT ANSWER ongoing, data tracking , done by major companies found on internet (HAR, NAR)
researcher is best served by using ___________________ - CORRECT ANSWER quantitative research
employs statistical analysis by measuring values to determine the results - CORRECT ANSWER quantitative
This type of analysis
"describes" the obtained results. For example, how many people like or dislike a proposed change
in a brokerage's marketing approach. - CORRECT ANSWER descriptive data analysis
can also be employed to compare market segments to see how they respond
to an issue, and to provide foresight as to what could possibly occur based upon the compiled data. - CORRECT ANSWER inferential data analysis
It is widely held that ________ is the minimum sample size for reliable results - CORRECT ANSWER 30
Payments on your mortgage mean you are acquiring a major possession;
instead of rent, you own more and more - CORRECT ANSWER investment
More people have started on the road to their goals by home
ownership than by any other way. Your principal and interest payments remain the same
for the full term of your mortgage while rents usually go up - CORRECT ANSWER financial independence
Better than a savings account, your home can appreciate to keep pace with
inflation. Should your hobby be carpentry, decorating, etc., you have opportunities to
enhance the value of your home. - CORRECT ANSWER cash equity
Means, medians, and modes are all measures of - CORRECT ANSWER central tendency
Why might a real estate professional perform market research? - CORRECT ANSWER a. To determine the direction of the market
b. To monitor current marketing performance
c. To identify new market opportunities
The acronym FSBO stands for - CORRECT ANSWER For Sale by Owner
Another name for telemarketing is called - CORRECT ANSWER Cold-Calling
Working a market based on location is called - CORRECT ANSWER Geographical Farming
Market research can indicate the - CORRECT ANSWER • sex/gender,
• marital status,
• lifestyle,
• education level, and
• income level of the consumers in your target market.
Two forms of macro marketing - CORRECT ANSWER geographic farming and demographic farming
a great place to kick off your marketing, particularly if your marketing
budget is lean, and that tends to be the case for most new agents when launching their new career - CORRECT ANSWER geographic farming
A farm is a part of the area that is - CORRECT ANSWER serviced by your firm
Canvassing door to door best time is - CORRECT ANSWER Saturday mornings, follow up with email, flyer, etc. once a month
The following three-step strategy for prospecting for listings is very effective. - CORRECT ANSWER Telephone call, mail, personal visit
What time of day should you cold call? - CORRECT ANSWER evening or late afternoon
the housing situation in the country - CORRECT ANSWER macro market
the housing situation in the state/city - CORRECT ANSWER metro market
the housing situation in specific communities/neighborhoods - CORRECT ANSWER micromarket
Why would an agent employ micro marketing strategies? - CORRECT ANSWER Because it can save agents time and money by custom tailoring their marketing
campaigns for a specific group of buyers/sellers
Which of the following techniques is commonly used in prospecting for listings?
a. Cold-calling
b. Door-to-door canvassing
c. Mailing a note or postcard
d. All of these are techniques used in prospecting - CORRECT ANSWER d
A broker can keep and protect client records by making use of - CORRECT ANSWER cloud storage
A source of information about current and expired listings and sales can be found on the
local __________, - CORRECT ANSWER MLS
Two popular social networks are ___________ and _____________ - CORRECT ANSWER twitter fb
With client permission, an agent could post a video of a listed property on ___________. - CORRECT ANSWER youtube
Skyler 360 and Siri are examples of - CORRECT ANSWER artificial intelligence
Why is search engine optimization (SEO) important? - CORRECT ANSWER Because without it, your website might end
up buried on page 12 or 13 of a Google search, and everyone knows that the majority of web-surfers
do not click past page 2 or 3 of the results. SEO employs strategies that promote your site up in
the ranks of a search results page, making you more visible to prospective clients
MLS stands for - CORRECT ANSWER Multiple Listings Services
is an office concept that is catching on in
some brokerages, limiting the amount of office space
needed for agents - CORRECT ANSWER Hoteling
The word blog is a combination of which two words? - CORRECT ANSWER web and log
are the largest demographic of customers to sell to due to their sheer volume of numbers - CORRECT ANSWER Millennials
The purpose of compiling a market analysis for a seller is to assist the seller in __________
their property competitively. - CORRECT ANSWER pricing
Preparing a home for showing can be done professionally or by the sellers. It is often called
___________. - CORRECT ANSWER home staging
THE 4CS OF SOCIAL MEDIA MARKETING - CORRECT ANSWER • Creating
• Curating
• Connecting
• Culture
created when there is more money
in the market and less goods for sale - CORRECT ANSWER Demand-pull inflation
occurs when the costs of production and
offering services increase, thereby causing manufacturers and tradespeople/vendors to raise their
prices accordingly. The costs are then passed on to the consumer - CORRECT ANSWER cost-push inflation
More available affordable housing creates what is known as a _________ market. - CORRECT ANSWER buyer's
Rather than being employees of their broker, most license holders work as _____________. - CORRECT ANSWER independent contractors
The commission is the most common form of ______________. - CORRECT ANSWER agent compensation
An independent contractor will have earnings reported to the IRS on a form called a
_________. - CORRECT ANSWER 1099-MISC
The way a commission is divided between cooperating brokers is called the ____________. - CORRECT ANSWER commission split
IRS guidelines state that sales agents that are independent contractors: - CORRECT ANSWER are required to pay their own business fees
Which of the following statements is INCORRECT?
a. Brokers may offer discounted commission rates to clients.
b. Brokers may charge clients a flat fee for services.
c. Flat fee charging is illegal in most states.
d. Real estate commissions are always negotiable - CORRECT ANSWER c
Who determines commission fees and splits? - CORRECT ANSWER The broker of record
TREC requires any broker with an exclusive agency agreement to provide the client with
_____________. - CORRECT ANSWER minimum levels of service
Time in the office providing an agent the opportunity to work with any walk-in or call-in
prospects is commonly called _________. - CORRECT ANSWER floor time
In direct approach to marketing is considered - CORRECT ANSWER inpersonal
personality type that gives back to community - CORRECT ANSWER whale
personality type that likes to have fun, they like to talk - CORRECT ANSWER dolphin
interested in data, engineers - CORRECT ANSWER urchins
personality type that is competitve, out for blood, big idea people, big picture people - CORRECT ANSWER shark
values ideas, innovation, original and new concepts that have long-term implications;
inquisitive and imaginative; challenged by problems and finding solutions. - CORRECT ANSWER theorist
values actions ("actions speak louder than words"); results oriented; direct; frank
about events, situations and people; down to earth and practical in working. - CORRECT ANSWER driver
The best marketing tip for Sofia when dealing with GenX and Millennials would be: - CORRECT ANSWER Make your presentation short, direct and use technology
Kathy is a top-producing agent who is very direct in her approach with clients and fellow agents.
She is often in a hurry, and keeps her conversations short and to the point. Given this description,
it is safe to say that Kathy is probably a __________. - CORRECT ANSWER driver
A summary of your personal qualifications, business information and a sample contract are
some items that would be included in your ___________________. - CORRECT ANSWER listing presentation kit
The mandatory disclosure notice that must be presented to both prospective buyers and
sellers is the __________. - CORRECT ANSWER IABS
A form prepared by the seller and provided to buyers is the ____________________. - CORRECT ANSWER seller's disclosure
A Seller's Disclosure is prepared by the seller and the __________ is responsible for the
accuracy of the information. - CORRECT ANSWER seller
The underlying theory is that a good sales
person must have at least two basic qualities: - CORRECT ANSWER empathy and ego drive
empathy is - CORRECT ANSWER the ability to put yourself in someone else's shoes
Loans guaranteed by a government agency are ____________. - CORRECT ANSWER VA loans
Loans insured by a government agency are _____________. - CORRECT ANSWER FHA
Private sector loans without a government guarantee or insurance are ____________. - CORRECT ANSWER conventional
An employment contract hiring a broker to represent a buyer is a ____________________. - CORRECT ANSWER buyer representation agreement
VA loan must have - CORRECT ANSWER The Veteran must receive a
Certificate of Eligibility from the VA prior to applying for the loan. The property must be appraised
by the Veterans Administration. A veteran who is applying for a VA loan must sign a document
stating that he or she will occupy the property
in this loan the borrower makes equal regular payments of principal and interest
until the loan is repaid. The term of the loan can be anything from 10 to 30 years, but the most common
terms are 15 years and 30 years. This loan is often referred to as a fixed-rate loan. - CORRECT ANSWER amortized loan
the interest
rate changes or is adjusted periodically. The rate is usually tied to some readily available index, and
changes from period to period are usually limited or "capped". This loan can often give the buyer the
lowest available monthly payment at the start of the term, but it is important to remember that the
rate will fluctuate, and so will the payments. The maximum allowable adjustment over the life of the
loan is also usually capped. - CORRECT ANSWER adjustable rate mortgage (ARM)
This is an amortized loan in which the loan payments in
the early years are set lower than normal, and they gradually rise over the first few years, leveling
off at some point, such as the fifth year - CORRECT ANSWER Graduated Payment Mortgage
Most lenders will not allow borrowers to spend more than ______% of their monthly income
on PITI. - CORRECT ANSWER 28
two types of qualifying - CORRECT ANSWER financial and emotional
A federal law that regulates marketing emails is the _____________. - CORRECT ANSWER CAN-SPAM act
Taking buyers to or away from a neighborhood based on any protected group is called
___________. - CORRECT ANSWER steering
Another name for panic peddling with sellers is ______________ - CORRECT ANSWER block busting
On signs or any other type of advertising, a broker's name, the brokerage name, or an
assumed name has to be at least _________% of the largest item of contact information. - CORRECT ANSWER 50
TREC has opined over the years that the word "__________®" or "_______" are words that
clearly identify the advertiser as a broker, but that the words "Real Estate" or "Properties" do not. - CORRECT ANSWER Realtor or realty
It allows an
aggrieved consumer to sue a seller of goods for damages. The act by the seller of the goods has to be
deceptive or unfair for the consumer to successfully sue for monetary damages. - CORRECT ANSWER Deceptive Trades Practicing Act
uses adjectives and opinions
rather than details or facts (The most beautiful landscaping). This is not misrepresentation - CORRECT ANSWER puffing
restricts the use of the facsimile
machine to deliver unsolicited advertisements - CORRECT ANSWER telephone consumer protection act TCPA
Which of the following is an INCORRECT statement?
a. Seller's agents MUST disclose to a potential buyer whether or not a person has died of
AIDS or HIV-related illness in a home.
b. In Texas, sellers are responsible for filling out a Seller's Disclosure of Property Condition
for the buyer.
c. In Texas, sellers of residential property most disclose all material facts relating to the
condition of the property.
d. All of these statements are incorrect - CORRECT ANSWER A
The TREC requirements for professional behavior are set forth in the ________________. - CORRECT ANSWER Canons of Professional Ethics and Conduct
___________________ is influenced by an individual's morals, ethical standards set by a
profession and laws. - CORRECT ANSWER Business Conduct
is very
specific concerning this violation. All
commissions are negotiable between
the broker and his or her client and are
not set by any Board of REALTORS®
or between competitors, or by TREC - CORRECT ANSWER Sherman Anti Trust Act
What makes a topic searchable on twitter? - CORRECT ANSWER #
How many people should agents contact a week from the hot sheet on MLS? - CORRECT ANSWER 25
Penalties of Fair Housing Act - CORRECT ANSWER 75,000 first time and 150,000 there after [Show Less]