Question

 online aggregators are more comprehensive then the home listing service that real agents use.

 TRUE or FALSE

 a buyers agent represents the buyer, and the sellers agent represents the broker.

 TRUE of FALSE

 dual agency is illegal in some states. 

TRUE or FALSE

 when you have a exclusive contract with a real estate agent, you can

 a. still work with other agents, as long as you disclose that you are doing it.

 b. work with only the seller's broker for 30 days

 c. work with only buyer's brokers

 d. work with only that agent.

 which of the questions would you be unlikely to ask when interviewing a real estate agent? 

 a. how many first time home buyers did you work with last year?

 b. how much do i qualify to borrow? 

 c. what is your comission?

 d. what price range is your specialty?

 what makes buying a foreclosed property risky? select 2

 a. the title fees are set later and cant be negotiable.

 b. they are usually "sold as is"

 c. usually, you can't inspect the home in advance.

 d. you must use an adjustable-rate loan for purchase.

Answer 1

False. Users/ prospective buyers may not be able to see private information and instructions associated with property. Online aggregators may also not give proper hyper-local data.

False. A buyers' agent represents the buyer. A sellers' agent represents the seller. Brokers can represent both buyer and seller.

Dual agency is illegal in eight states- Alaska, Colorado, Florida, Kansas, Maryland, Oklahoma, Texas, and Vermont

Exclusive contracts are signed between buyer's agent and buyer or Seller's agent and Seller. These agreement state that buyers/ sellers can work solely with agents they have entered into an agreement.

A perfect real estate agent would have- a good experience of working with home buyers ( if you are a buyer) , catering to a price range of interest in area of interest , good list-to-sale ratio minimum commission. The right person to inform on borrowing qualification would be a banker and actually, agents would ask that information from prospective buyers.

Buying a foreclosed income is risky because:

>> They are usually "sold as is".Since properties in foreclosure aren't well maintained typically, money on improvement would need to be spent by buyer.

>> Inability to inspect the home in advance may result in unreliable estimate of improvements needed