Practice Test Geeks(NAR) National Association of Realtors Certification Practice Test
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Client Relationship & Account Management Flashcards

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Read the first 7 Client Relationship & Account Management flashcards as text

  1. Under the NAR Code of Ethics, how quickly must a REALTOR® respond to inquiries from clients or customers?

    Answer: As promptly as possible given the circumstances

    The Code of Ethics requires REALTORS® to respond as promptly as possible, though no specific hour requirement is mandated.

  2. A buyer's agent receives a referral fee from a home inspector the agent recommended. What must the agent do?

    Answer: Disclose the referral arrangement to the buyer client

    Agents must disclose any referral fees or financial arrangements with third-party vendors to their clients to avoid undisclosed conflicts of interest.

  3. A seller client asks their agent to include misleading language in the listing description. What should the agent do?

    Answer: Refuse and explain that misrepresentation violates the Code of Ethics and could expose both parties to liability

    REALTORS® are prohibited from making false or misleading statements about properties under Article 12 of the Code of Ethics.

  4. What is a key advantage of converting a one-time buyer into a repeat client?

    Answer: They provide ongoing business, referrals, and lower acquisition costs than new leads

    Repeat clients have already established trust, reducing marketing costs, and are more likely to refer friends and family.

  5. When must a REALTOR® present a written agency disclosure to a potential client?

    Answer: At the first substantive contact with the client, as required by state law and ethical standards

    Agency disclosure must occur at the earliest practicable opportunity, typically at or before the first substantive discussion of real estate needs.

  6. A listing agent receives an offer significantly below asking price. The seller emotionally wants to reject it without countering. What is the agent's recommended approach?

    Answer: Counsel the seller on the market context and potential benefit of countering before making a final decision

    The agent's advisory duty includes helping clients evaluate options objectively, even when emotions influence initial reactions.

  7. Which of the following is an example of a REALTOR® fulfilling the duty of 'reasonable care and diligence'?

    Answer: Thoroughly researching comparable sales and reviewing contract terms before advising the client

    Reasonable care and diligence require the agent to research thoroughly and provide informed guidance throughout the transaction.

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