Which of the following is a true statement about buyer financing?
Lowest interest rates means lowest overall costs.
Most loans are essentially the same, because they’re based on a buyer’s credit score.
Often, a lender’s low interest rate is offset by added costs to finance the loan.
The Loan Estimate form makes it harder to compare loans.
Why is it important to ask buyers how often they want to receive an MLS listing feed?
It costs money each time a feed is sent to them.
Not all buyers are in the same hurry to buy.
Sending feeds often wastes your time.
They may be working with more than one agent, and you don’t want to clog their email.
Your buyer is interested in a property, but isn’t ready to make an offer yet. How can you best keep tabs on the property’s status?
Ask the listing agent to keep you informed.
Ask the sellers to keep you informed.
Drive by frequently.
Set up a hot sheet on MLS to track it.
Automatic MLS email feeds should be sent to buyers ______,
At whatever schedule they request
Daily
Every other day
Weekly
What should a buyer’s agent do, before showing a buyer a listing they found on MLS?
Ask the buyers to bring their checkbook in case they want to write an offer on the spot.
Complete the paperwork in advance for an offer.
Determine the demographics of the nearest neighbors.
Research the property.
Why might a licensee choose to use a mortgage calculator app, rather than an online mortgage calculator?
They offer more features.
They’re less expensive.
They’re more accurate.
They’re more convenient.
As a best practice for communicating with buyer clients, buyer agents should ______.
Prescreen every MLS feed and only send those that are worthy to buyers
Sign them all up for daily automatic MLS feeds
Stay in touch with buyers at least once per week
Wait for buyers to contact them so as not to be a bother
Which of the following is a true statement about buyer showings?
Crime statistics shouldn’t be provided to buyers.
Google Earth is predominantly routing software.
Google Map is predominantly routing software.
It’s helpful to obtain permit information prior to a showing.
Your client, Joanie, is considering buying credit clean-up software and asks you for a recommendation. What do you tell her?
A Google search will yield several results. They’re all pretty much the same.
She should buy the best one she can find.
She should save her money and do it herself. No organization or app can wipe a negative item off a credit report.
She should work with a credit repair consultant instead.
Mark requires a signed buyer representation agreement before working with a buyer. What does this policy allow him to do?
Provide the highest level of service possible to his clients.
Retain the largest number of clients and provide a minimum level of service.
Serve both his clients and customers with the same professional level of service.
Stay in compliance with his state commission.
Janie entered the addresses of the homes her buyers wanted to see into a software app, which then mapped out the best sequence of showings. What type of software app did he most likely use?
A route planning app
A tax assessor app
A zoning app
Google Earth
The best time to inform buyers that you require a buyer representation agreement before working for them is ______.
After they fall in love with a house
Before working with them
Just prior to writing an offer on their behalf
When in negotiations with the seller
What technology tools can help buyers in their home search?
Apps
Demographic data
GPS
Radar
Which software application or online source can help buyer agents save time and gas on buyer tours?
GasForLess
Google Earth
Routing software
Tax assessor site
Barb is notified every time the neighborhood her buyers are interested in is mentioned online. Barb has likely subscribed to _______.
Google Alerts
Google Earth
NeighborFind
NextDoor
How can buyer agents best use Google Earth to assist buyers?
They can provide a 3D look at the property’s setting.
They can provide them with additional interior shots.
They can provide them with demographics for the neighborhood.
They can show them great vacation destinations.
Who’s ultimately responsible for researching a property’s crime statistics prior to the buyers writing an offer?
The buyers
The buyer’s agent
The seller
The seller’s agent
Rita uses routing software for her buyer showings. This is likely because Rita _____.
Doesn’t know the area well
Has more than eight properties to show
Has no sense of direction
Wants to save time and gas
Mortgage calculator apps can help you ______.
Calculate mortgage payments when given a home price
Calculate mortgage payments when given principal, interest, and terms
Determine a buyer’s credit score
Prequalify a buyer by calculating debt-to-income ratio and total housing debt ratio
Which of the following is an effective way to use technology to secure buyer representation agreements with buyer clients?
Add a note to your email signature block stating you only work with clients.
Add a tagline to your MLS listings.
Send out mass mailings.
Set up automated telemarketing calls to all consumers describing your services.
Which form of buyer communication sends the licensee updates on MLS activity pertaining to specific properties the buyer client is looking at?
GoogleAlerts
Hot sheet feature on MLS
MLS automated feeds
NextDoor