Sell My House Home Selling Smarts 2

Question 1

What does 'days on market' (DOM) indicate to a potential buyer?

Accepted Answer

How many days the listing has been active without selling

Answer

Days on market tracks how long a listing has been active, and a high DOM can signal overpricing or property issues to buyers.

Question 2

What is a 'contingent' offer in real estate?

Accepted Answer

An offer that depends on certain conditions being met

Answer

A contingent offer is accepted by the seller but remains conditional on events like the buyer's home sale, inspection, or financing approval.

Question 3

Which improvement typically offers the HIGHEST return on investment when selling a home?

Accepted Answer

Minor kitchen remodel

Answer

Minor kitchen remodels consistently rank among the highest ROI home improvements, often recouping 70-80% or more of costs at resale.

Question 4

What is 'dual agency' in a home sale?

Accepted Answer

When one agent represents both the buyer and the seller

Answer

Dual agency occurs when a single agent or brokerage represents both buyer and seller in the same transaction, which can create conflicts of interest.

Question 5

What does a title company do during a home sale?

Accepted Answer

Researches the property's ownership history and insures against title defects

Answer

A title company searches public records to verify clear ownership and issues title insurance to protect against future claims on the property.

Sell My House Practice Test