When receiving a telephone inquiry from a prospective buyer, you should?
Group of answer choicesAsk their race.Ask their religion.
Ask for their name and phone number, family needs and how they found you.
Ask if they have a preference for the racial make up of a neighborhood
Once an offer is accepted and the agents have a fully executed contract, who are documents submitted to so that the process of selling the home may begin?
Group of answer choicesThe County of San Diego, after physically delivering documents to the county administration buildingThe Assesors office, so that they can determine the value of the property
Title and Escrow, who will collect deposits, order pay offs and verify title chain.
None of the above
A home has been listed for sale for $700,000.00 It is a 3 bedroom 2 bath in Lemon Grove that is about 1,200 square feet. The home is in average condition and was remodeled 5 years ago when the home was purchased for $450,000.00. How can you determine the home’s value?
Group of answer choicesYou must find every home that sold 5 years ago when this home last sold and check zillow to average the total gain during that period and calculate the percentage increase of 10 similar priced homes across the county and apply the increase to the original sales price to determine current value.Original sales price is irrelevant. The most recent home sales nearby, within the last few months for homes of similar size and similar condition will best determine an estimate of value.
Multiply the county tax rate by 6 and add a $75,000 flat baseline to determine value
Calculate 110% of purchase price to determine value
A home buyer is a retired Veteran and eligible for a VA loan, they are looking to buy a townhome in Santee. How do you determine the best loan for them?
Group of answer choicesSince they are a Veteran, a VA loan is always the best.They should “Save” their VA loan to purchase a rental property, so it’s likely a FHA loan is best
Every property is different. VA eligibility of property, combined with determining the best available loan to give them the most attractive financial product available will determine the best available loan.
Conventional loans are always the best.
A lead based paint disclosure would be required on a FULLY REMODELED HOME (remodeled in 2020) that was originally built in 1951?
Group of answer choicesTrueFalse
No answer text provided.
No answer text provided.
When preparing a contract (sales , listing, etc.) what are the most important components?
Group of answer choicesRace, Gender and other demographic information for use by the census agency.Terms of agreement, important dates, clear identification of property and consideration being exchanged for the transfer of the property
Size 12 font, plain white paper, Times New Roman Font
All of the above
Your neighbor wants to sell his home in North Park. How do you become the listing agent on the home?
Group of answer choicesHe’s your neighbor, a handshake is enough to be able to put up your yard signA valid fully executed listing agreement would outline the terms and create agency.
Text message with agreed sales price minimum and verbal authorization is enough to avoid a contract and skip listing on the MLS
No answer text provided.
When having a conversation with a prospective client, what does “F.O.R.D.” stand for?
Group of answer choicesFix or repair dailyFound on road dehydrated
Fight Only Residential Detached
Family. Occupation. Recreation. Dreams.
Who can modify and accepted offer to purchase?
Group of answer choicesThe selling brokerThe listing broker
The listing broker and the seller
The buyer and seller by mutual agreement
You received two offers on a home that you listed. One is from your own brokerage and the other is from another company. You should:
Group of answer choicespresent the highest offer first. If it is not accepted present the next highest offer.Always present the offer from your brokerage first
Offers should be treated equally, whether all offers are presented as they come in or together at the same time.
No answer text provided.
What does HUD stand for?
Group of answer choicesDepartment of Housing and Urban DevelopmentHousing Understanding Dwellings
Homes Under Department Oversight
none of the above
Most real estate transactions require financing?
Group of answer choicesTrueFalse
The Second Property tax installment becomes delinquent:
Group of answer choicesApril 10thDecember 31st
2 pts
Proposition 60 and 90 help young people buy their first home?
Group of answer choicesYesNo, they are intended to help older people move to less expensive housing without having to pay higher taxes.
California’s war veterans get a discount on their property taxes via a Veteran’s exemption?
Group of answer choicesTrueFalse
An owner occupied home is also known as a Principal Residence?
Group of answer choicesTrueFalse
Painting the exterior of a home is considered a home improvement?
Group of answer choicesTrueFalse
Being a property manager includes responsibilities beyond collecting rent?
Group of answer choicesTrueFalse
A contract to rent is known as a lease?
Group of answer choicesTrueFalse
A real estate license (or the equivalent, such as a lawyer that is licensed by the bar) is required to become a Realtor in California?
Group of answer choicesTrueFalse
You can show a property to clients who are not physically present via video streaming?
Group of answer choicesTrueFalse
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