California Real Estate Practice Final Exam Questions with Correct Answers

California Real Estate Practice Final Exam Questions with Correct Answers A broker never saw, talked to, or corresponded with a buyer, yet earned a commission. What type of listing did the broker have? - Answer-Exclusive agency listing Written notice that the amount of commission is negotiable is required in - Answer-listings of 1 to 4 residential units. A listing where the licensee is subject to disciplinary action for demanding a fee would be - Answer-an exclusive listing without a termination date. What would be a word or words to use in a listing presentation that denotes a benefit? - Answer-Agency representation Which of the following listings does NOT require the agent to use diligence to locate a buyer? - Answer-Open To be enforceable, which element is required in an exclusive right-to-sell listing? - Answer-All of these: -Lawful purpose -Consideration -Writing 10. What type of listing is legal/unethical in California, but is considered illegal in some other states? - Answer-Net First-time visits to new listings by groups of agents are commonly known as - Answer-caravans. A property brief is a - Answer-flyer pointing out attractive features about a property. The period that tends to be the most productive sales period for listings is the - Answer-first 20 days of the listing. The owner should understand the broker's advertising policy, including the fact that a(n): - Answer-Ad within a price range or area creates prospects for other homes in the price range or area. Advantages of holding open houses include - Answer-All of these: -Showing owners you are working on their behalf. -Obtaining listings from visitors. -Locating prospective buyers. If a listing is overpriced, the agent should suggest to the owners that - Answer-they adjust the price to the current market.