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Overview of Real Estate Negotiation Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. When a counteroffer is made, there are three likely results. What are these results?

Question 2 2. What does it mean to make a counteroffer in real estate?

Question 3 3. What is the difference between the listed sales price and the counteroffer sales price?

Question 4 4. Bob has received an offer for his house. He is counteroffering with a different price. What is likely his reason for doing so?

Question 5 5. What is one example of a contingency in a real estate offer?

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Question 6 6. Which of the following is NOT an advantage of a home inspection contingency during real estate negotiations?

Question 7 7. What is the purpose of earnest money in real estate negotiations?

Question 8 8. What is the definition of a financial contingency in the real estate negotiation process?

Question 9 9. Which of the following is true of a counteroffer in the real estate negotiation process?

Question 10 10. What is the definition of delivery as it relates to the real estate negotiation process?

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Question 11 11. Select which answer is true regarding comparative marketing analysis in real estate.

Question 12 12. Which of the items below is NOT a step in comparative marketing analysis in real estate?

Question 13 13. How does comparative marketing analysis help in the real estate purchasing process?

Question 14 14. When performing comparative marketing analysis in real estate, it is important to _____.

Question 15 15. What is the first step that you would need to perform in comparative marketing analysis in real estate?

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Question 16 16. One real estate business model is For Sale By Owner (FSBO). What is the key element of a FSBO listing?

Question 17 17. When would a real estate backup offer exist?

Question 18 18. What must an owner do when multiple offers are received on his or her house for sale?

Question 19 19. Which term best describes the different ways a seller can work with a buyer, such as traditional brokerage, discount commissions, or fee for service?

Question 20 20. There are different ways that an agent can work with a real estate client. What is one of the characteristics of a traditional brokerage?

Overview of Real Estate Negotiation Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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