COS Marketing & Sales Strategies 2 — Questions and Answers
Question 1: Under the Fair Housing Act, which advertising practice is PROHIBITED when marketing affordable housing units?
- Listing unit square footage in ads
- Using images that depict only one racial group (Correct answer)
- Stating the number of bedrooms available
- Advertising proximity to public transportation
Correct answer: Using images that depict only one racial group
Using images that suggest a preference for or against a protected class violates the Fair Housing Act's advertising provisions.
Question 2: A prospect asks about unit availability but does not qualify under income restrictions. What is the BEST response from leasing staff?
- Offer the unit anyway if they pay more upfront
- Explain the income eligibility requirements and refer them to market-rate alternatives (Correct answer)
- Tell them to reapply when their income changes
- Ignore the inquiry to avoid Fair Housing issues
Correct answer: Explain the income eligibility requirements and refer them to market-rate alternatives
Staff should transparently explain eligibility requirements and, when possible, refer the prospect to suitable alternatives.
Question 3: Which metric BEST measures the effectiveness of a leasing office's outreach efforts?
- Number of staff hours worked
- Cost per lease-up (Correct answer)
- Total utility expenses
- Annual inspection score
Correct answer: Cost per lease-up
Cost per lease-up measures how efficiently marketing spend converts into signed leases, making it the best effectiveness metric.
Question 4: When conducting a competitive market analysis for an affordable property, which factor is MOST important to evaluate?
- Competing properties' landscaping quality
- Comparable properties' rent levels and vacancy rates (Correct answer)
- Number of staff at competing properties
- Competitors' website color schemes
Correct answer: Comparable properties' rent levels and vacancy rates
Rent levels and vacancy rates at comparable properties directly inform pricing strategy and demand assessment.
Question 5: A LIHTC property's marketing plan should prioritize outreach to which organization to identify income-qualified prospects?
- Local luxury home builders
- Social service agencies and housing authorities (Correct answer)
- Commercial real estate brokers
- Short-term rental platforms
Correct answer: Social service agencies and housing authorities
Social service agencies and housing authorities regularly serve income-qualified households who are the target population for LIHTC housing.
Question 6: What is the purpose of a 'guest card' in the leasing process?
- To provide a temporary key to applicants
- To record prospect contact information and housing needs for follow-up (Correct answer)
- To grant guests permission to use common areas
- To track maintenance requests
Correct answer: To record prospect contact information and housing needs for follow-up
Guest cards capture prospect details and preferences, enabling organized follow-up and tracking of leasing pipeline.
Question 7: Which element of the marketing mix refers to the channels through which a property reaches prospective residents?
- Product
- Price
- Place (Correct answer)
- Promotion
Correct answer: Place
In the 4 Ps of marketing, 'Place' refers to distribution channels—the methods and locations through which the property is marketed and accessed.
COS Marketing & Sales Strategies 2
Under the Fair Housing Act, which advertising practice is PROHIBITED when marketing affordable housing units?