Real Estate Sales Exam Sales Process 2

Question 1

A buyer submits an offer below asking price. What is the seller's BEST first response?

Accepted Answer

Issue a counteroffer addressing price and terms

Answer

A counteroffer keeps negotiations alive and allows both parties to work toward mutually acceptable terms.

Question 2

Which document gives a real estate agent legal authority to represent a seller?

Accepted Answer

Listing agreement

Answer

A listing agreement is the contract between the seller and broker authorizing the agent to market and sell the property.

Question 3

During a listing presentation, a seller insists on a price well above market value. What should the agent do?

Accepted Answer

Present comparable sales data and explain pricing consequences

Answer

Agents have a duty to provide honest counsel based on market data so sellers can make informed pricing decisions.

Question 4

What is the primary purpose of a buyer needs analysis?

Accepted Answer

To identify the buyer's property requirements, preferences, and budget

Answer

A buyer needs analysis helps the agent match suitable properties to the buyer's specific criteria and financial capacity.

Question 5

A property has been on the market for 90 days with no offers. What adjustment most commonly corrects this?

Accepted Answer

Reducing the listing price

Answer

Extended days on market typically signal overpricing; a price reduction brings the listing in line with buyer expectations.

Real Estate Sales Exam Practice Test