Lesson 1 - Introduction to Real Estate - Harman Real Estate Academy

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Question 1 of 14

1. Question
1. What is the passing percentage on the State Licensing Exam?
- 70%
- 75%
- 80%
- 85%
Question 2 of 14

2. Question
The first step in a real estate transaction is:
- Help someone sell their home
- Help someone buy a home
- Put a client under contract
- Submit property information to the MLS
Question 3 of 14

3. Question
Fill in the blank by selecting all answers that apply
An Offer is usually accompanied by a ___________. This is to show that the offer is serious and in ____________.
- hand shake; faireness
- deposit (also known as earnest money); good faith
- earnest money; deposit
Question 4 of 14

4. Question
When a client wants to present changes to an offer, what do they use?
- A counteroffer
- A listing agreement
- A buyer’s agreement
Question 5 of 14

5. Question
5. How much of a down payment is necessary to acquire a VA loan?
- 0%
- 3%
- 5%
- 10%
Question 6 of 14

6. Question
Why would the buyer make one final walk through of the home before closing?
- To make sure the property is in the expected condition.
- To start moving items into their home.
- To measure the room for their furniture.
- To turn on the water and electricity in preparation for moving in.
Question 7 of 14

7. Question
Do you know the order of the steps/stages in a typical residential real estate transaction? Will you commit them to memory?
- Yes
- No
Question 8 of 14

8. Question
Agents must be supervised by whom?
- A broker
- A senior agent
- A Realtor
- No one, agents are independent
Question 9 of 14

9. Question
True or False: One of the services offered by a seller’s agent is effective advertising.
- True
- False
Question 10 of 14

10. Question
What is the most important means of advertising?
- The MLS
- Mailed flyers
- Open houses
- Newspapers
Question 11 of 14

11. Question
What does Dave recommend when showing a house to a client?
- Let the client explore the home on their own
- Show the client the details of the home
- Encourage clients to see their personal property in the home
- Promote the positive things in the home
Question 12 of 14

12. Question
True or false: One service provided by a buyer’s agent is helping their client find the right property?
- True
- False
Question 13 of 14

13. Question
Agents are usually classified as what?
- An independent contractor
- An employee
- A realtor
Question 14 of 14

14. Question
https://player.vimeo.com/video/150376818

Did you watch the remainder of lesson 1?
- Yes
- No