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QUIZ: Working With Buyers

 Even if you don’t specialize in buyer representation, it’s very likely that you will work with buyers at least once in a while. To provide great service, you must help your customers understand the buying process, qualify for a loan, and find the right property. Take this quiz to see how well you work with buyers.

1.A dual agent works:
Primarily for the buyers
As a subagent of the listing agent
For both the buyer and the seller
Primarily for the sellers

2.A buyer’s representative is hired to:
Show properties
Represent the interest of the buyer throughout the transaction
Negotiate on behalf of the buyer
All of the above

3.Prequalifying buyers:
Helps the representative know which homes to show
Facilitates closing the transaction
Determines the buyers’ motivation
All of the above

4.Which of the following skill sets is most important for the buyer’s representative?
Counseling and negotiating
Time management and computer literacy
A strong grasp of financing options
None of the above

5.If you sense physical danger from a client while showing a property, you should:
Wait outside or near the front door while the client views the property
Call someone on your cell phone
All of the above

6.A buyer’s agency contract should include:
Information about potential environmental hazards in the area
A dual agency disclosure
An extremely detailed description of what the buyers want

7.The best way to work with the Internet-empowered consumers is to:
Call them immediately
Let them take the lead
Send a brochure by regular mail
Try to keep exclusive control of property information

8.Which of the following is not a good negotiating strategy?
Making concessions early to show you’re negotiating in good faith
Determining in advance the concessions the buyers will make
Offering nonmonetary value, such as closing the deal rapidly
Adopting a win-win attitude in which each party to the negotiation is satisfied