Home->Buying-or-Selling->Real Estate Quiz

Test your real estate knowledge!

 

1. To tour a house I see advertised in a real estate journal or magazine, I:
can drive by the property and try to contact the owner directly to avoid realtor fees.
must only contact the real estate agent who is listing the property.
can call any real estate agent I choose and enjoy working with.
 
2. Which of the following factors will have the LEAST affect on how fast a house will sell?
cleanliness
clutter
number of closets
odors
 
3. When looking for a new house, it is best to:
call each and every individual real estate agent listing a property that you find appealing.
call one agent who can get to know your needs and wants, and can keep you informed of all listings matching your criteria so you can make an educated purchase.
drive around town and hope to stumble upon your ideal home.
 
4. If I am using an agent I don't get along with and who is not showing me properties that meet my desired requests, I can switch to a new agent.
True
False
 
5. When purchasing a new house, I am obligated to use the same agent who showed me the property, unless I viewed it at an open house or have a signed agreement with another real estate agent.
True
False
 
6. Dual agency means both the buyer and seller are represented by the same agent or by agents who work for the same real estate firm.
True
False
 
7. When buying a house where dual agency exists, my agent can NOT tell me:
any financial information about the seller, unless the seller signed a confidentiality release form.
any noticeable defects in the property.
how much the sellers paid for the property.
how long the property has been on the market.
 
8. When viewing an open house, which of the following should you NOT do?
Tell the agent why I like the house and how much I can spend on it.
Look around carefully and examine the house for obvious material defects.
Contact the neighbors to find out more about the neighborhood (if I am seriously interested in the property).
 
9. If I want to sell my house on my own, I may not be able to market it to as many people as I could if I had a real estate agent list my house on the Multiple Listing Service (MLS).
True
False
 
10. If I use a real estate agent to advertise my home for sale, I have the ability to negotiate the commission rate.
True
False