Free Home Selling Smarts Question and Answers

Question 1

When choosing a listing agent, a Comparative Market Analysis (CMA) is a helpful resource. What does a CMA have to accomplish?

Accepted Answer

a method of calculating a listing price using recent sales statistics of homes similar to yours

Answer

a method of comparing an agent's commissions to other agents

Answer

a method of judging the overall health of the real estate market

Answer

a method of comparing different agents' marketing strategies

Question 2

Before you sign a listing agreement with your listing agent, what details should you give them?

Accepted Answer

nothing

Answer

the reason you are selling your home

Answer

your opinions on how your house will do in the market

Answer

what problems you might run into in selling your house

Question 3

Listing representatives can access the MLS (Multiple Listing Service). Describe the MLS.

Accepted Answer

a database of local homes that are listed for sale

Answer

a software program that helps draft listing agreements

Answer

a software program that calculates fair market value

Answer

a database of other real estate agents

Question 4

How much more do homes that are sold by an agent typically sell for than those that are sold by the owner, according to the National Association of Realtors?

Accepted Answer

3 to 11 percent

Answer

1 to 2 percent

Answer

10 to 12 percent

Answer

5 to 6 percent

Question 5

What distinguishes a Realtor from other listing agents?

Accepted Answer

Realtors are real estate agents that belong to the National Association of Realtors.

Answer

Realtors are licensed by the state; other agents are not.

Answer

Realtors are paid higher commissions.

Answer

Nothing, they are the same thing.

Question 6

What percentage commission do real estate listing agents typically charge?

Accepted Answer

5 to 6 percent

Answer

8 to 9 percent

Answer

7 to 8 percent

Answer

6 to 7 percent

Question 7

True or False: Always go with the agent that offers to list your house for the most money.

Accepted Answer

False

Answer

True