1. What type of customer is not actively in the market for real
estate but is still a potential purchaser? a. ActiveÂ b.
Passive c. ProspectÂ Â
2. In line with new legislation, the prescribed minimum advertised price is: a. The agents estimate b. The selling price sought by / acceptable by the vendor stated in the Sales Agency Agreement c. The greater of a and b d. If in a range, the upper limit must not exceed 10% of the lower limit e. All of the aboveÂ Â
3. When considering the marketing campaign for a property, the most likely purchaser must be identified. How do you determine the most active target market for the property? a. By talking to other real estate agents b. By taking details from prospective purchasers visiting the open for inspection c. By analysing recent sales and all purchase inquiry d. By reading articles in the newspapersÂ Â Â
4. How much money would you suggest for a vendor to invest in their marketing program? a. Agree on the amount necessary to obtain interest and reaction b. 1 to 1.5% of the anticipated selling priceÂ c. It should be the cheapest advertising package that the office could negotiate with the local newspaper d. There is no need to secure a marketing budget as most real estate offices have plenty of purchasers on their booksÂ Â Â
5. What is the most popular medium used to find real estate for sale? a. Property listing magazine b. Internet sites c. Local papersÂ Â
6. What is the primary function of property marketing? a. Promote your real estate agency b. Raise your local profile c. Bring purchasers and vendors together d. Generate enquiries for your officeÂ Â Â
7. When devising a marketing plan, it is important to devise a campaign incorporating: a. SignboardÂ b. Internet and signboard c. Internet, signboard and print media d. A comprehensive combination of marketing / promotional tools
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