Preview Questions Real Estate Agent | Role Specific Skill

Question 1: In the context of real estate contracts, what does "mutual assent" refer to?

Which action should you take?

Choose only one option

The agreement of both parties to the terms of the contract

The buyer's understanding of the property's value

The buyer's acknowledgment of the market conditions

The seller's agreement to provide financing

Question 2: What does a low cap rate typically signify in real estate valuation?

Which action should you take?

Choose only one option

Low property risk

High operating expenses

Low market demand

High return on investment

Question 3: Which legal document typically confirms the buyer's intent to purchase a property and initiates the contractual process?

Which action should you take?

Choose only one option

A title deed

A rental agreement

The purchase agreement

A letter of intent (LOI)

Question 4: In a scenario where a seller wants to walk away from a contract before closing, what negotiation tactic can you use to keep the deal alive?

Which action should you take?

Choose only one option

Reduce the price to appease the seller's concerns

Accept the seller's decision and walk away from the deal

Find a mutually agreeable compromise that addresses their concerns

Offer additional assurances, such as extending the closing date

Question 5: What is the primary objective of BATNA (Best Alternative to a Negotiated Agreement) in real estate negotiations?

Which action should you take?

Choose only one option

To establish legal compliance

To reject the deal outright

To strengthen the negotiation position

To assess buyer's financial capability

Question 6: In property valuation, what does the term "adjustment grid" refer to?

Which action should you take?

Choose only one option

A comparison chart used to track property listings over time

A table used to compare and adjust differences between the subject property and comparables

A formula used to estimate the depreciation of a property

A grid that calculates the cost per square foot of a property