Real Estate 101 Quiz 2016

13 Questions | Total Attempts: 23

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Real Estate 101 Quiz 2016

What are the important take-aways from the Real Estate Industry Presentation?


Questions and Answers
  • 1. 
    All real estate agents are REALTORS®. True or False
    • A. 

      True

    • B. 

      False

  • 2. 
    Who is legally responsible for the real estate transaction? 
    • A. 

      Agent

    • B. 

      Broker

    • C. 

      MLS

  • 3. 
    ________% of buyers search for their home on the internet according to the 2015 NAR Survey of Home Buyers and Sellers. (Enter number only)
  • 4. 
    [Blank] % of buyers would use real estate agents again? (Enter number only)
  • 5. 
    True or False.  Consumers selling their homes can post their For Sale property on realtor.com®
    • A. 

      True

    • B. 

      False

  • 6. 
    Why do brokers and agents advertise properties? 
    • A. 

      Attract leads from interested buyers and sellers

    • B. 

      Sell listings faster and at a better price by reaching the widest audience possible.

    • C. 

      Convert prospects into loyal customers

    • D. 

      Show current and prospective sellers tangible efforts toward marketing a property

    • E. 

      Build brand recognition, referrals and repeat business

    • F. 

      All of the above

  • 7. 
    Realtor.com® is the Official Website of the (choose one).
    • A. 

      Multiple Listing Service

    • B. 

      Area Association of REALTORS®

    • C. 

      National Association of REALTORS®

    • D. 

      NRA

  • 8. 
    Realtor.com®'s Spokesperson is [Blank].
  • 9. 
    A Seller's Market is described as high inventory, the median sales prices are declining and the "For Sale" yard signs are staying up longer.
    • A. 

      True

    • B. 

      False

  • 10. 
    An agent who represents a person in their home purchase is known as a (choose one).
    • A. 

      Transaction Coordinator

    • B. 

      Buyer's Agent

    • C. 

      Seller

    • D. 

      Account Executive

  • 11. 
    The Seller is represented by  (choose one).
    • A. 

      The National Association of REALTORS®

    • B. 

      A Licensed Assistant to the Broker

    • C. 

      The Multiple Listing Service

    • D. 

      The Listing Agent

  • 12. 
    Agents working in brokerages following a [Blank] [Blank] business model receive 100% of their commission.
  • 13. 
    Agents in brokerages following a [Blank] [Blank] business model share their commission with their broker at a negotiated percentage.
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