When homes in a particular neighborhood are similar in terms of features and pricing, you can help a client maximize the sales price by:
a) Selling only during the summer
b) Creating value perception differential
c) A 25% increase your marketing budget to sell that particular property
d) (a) and (c) only

True/False: Buyers typically search for and buy homes in very defined price quadrants.
True
False

Your client has a property to sell. Recent comparables have sold in the $192,000 to $239,000 range. This property is most similar to those comparables that have sold in the $192,000 to $225,000 range. Based on the theory of price-bracket segmentation, the maximum listing price for your client's property should be:
a) $230,000; you should price high and then reduce the price as needed
b) $225,000; this price represents the maximum value of the property's price quadrant
c) $192,000; price it low and get it sold
d) $199,000; price it slightly above the comparables

True/False: Home buyers respond more favorably to a price of $227,000 versus $225,000.
True
False

True/False: A listing price of $199,000 typically pulls as many as 20% more home buyers than a price of $200,000.
True
False

The best strategy for stretching the sales price of your client's property is:
a) Listing the property on a minimum of three homes-for-sale internet sites
b) Pricing the property above its price quadrant
c) Packaging the home with valuable items to convey; an example is home-gym equipment
d) All of the above

True/False: Most buyers make their subconscious assessment of a home after ten minutes of viewing it.
True
False

The very first thing most buyers notice when they pull up to a home's curb is:
a) A property's front door and front exterior
b) The landscaping
c) The condition of the driveway
d) The condition of the roof

To draw attention to your client's front door, you should first:
a) Have your client place a holiday ornament on it; for example, a beautiful Christmas wreath
b) Have your client paint the door a bright-red
c) Simply add yellow flowers to two planters and place them on either side of the front door
d) (b) and (c)

True/False: Homes in the lower-end price bracket should be painted in sophisticated, earth-toned colors.
True
False

True/False: According to the theory of buyer reflectivity, the first thing buyers notice when they walk through a home's front door is what is right in front of them. A mirror should therefore be hung on the wall across from the door to reflect the buyer's images; this helps the buyers subconsciously imagine living in the home.
True
False

The Variant Pricing Model helps you maximize the sales price of your client's home by:
a) Raising the sales price of your client's home by 2.5% above the average of all similar comparables in the neighborhood
b) Focusing marketing efforts on the unique features of your client's home
c) Basing the offering price on a Comparative Market Analysis
d) None of the above

The home-improvement project that usually produces the highest return on investment (ROI) and should be considered first is:
a) Replacing heating, ventilation, and air conditioning
b) Remodeling the bathroom on the main floor
c) New carpet, paint, and possibly tile
d) Remodeling the kitchen

True/False: Finishing off basements usually generates a positive return on investment.
True
False

The second place home buyers usually conduct their home search is:
a) The internet: Realtor.com
b) Home magazines on grocery store shelves
c) The internet: Popular search engines like Yahoo! and Google to find properties for sale in specific towns or cities
d) Classified advertising in the Real Estate section of the local newspaper

True/False: The first marketing channel you should consider to advertise your client's property is print advertising in both the real estate section of your local newspaper and local real estate magazines.
True
False

With regard to price-bracket segmentation, to maximize the selling price of your client's home:
a) List the property at the higher end of its price quadrant
b) Employ the variant pricing model and add 2.5% to the listing price
c) Both (b) and (c)
d) None of the above

What is the approximate percentage of buyers that initiate their home search using the internet?
a) 57%
b) 14%; the majority initiate their search with a real estate agent
c) 74%
d) None of these

True/False: Pay-per-click on Yahoo! and Google is not as effective as print advertising when marketing client's properties.
True
False

Which method of advertising on the internet will usually generate the most exposure for your personal real estate website (and, as a result, your client's listings?)
a) Organic search engine optimization
b) Banner advertising
c) Pay-per-click advertising
d) Advertising your website in off-line print

True/False: The internet has overtaken print advertising as the most effective marketing channel for advertising homes for sale and therefore print advertising should be completely ignored.
True
False

Three websites you should use to advertise your client's properties are:
a) Homesforsale.com, Realtor.com, and ForSaleByOwner.com
b) Realtor.com, MLS.com, and the online real estate section of your local newspaper
c) Yahoo real estate, homes.com, and Realtor.com
d) E-Bay, Realtor.com, and homes.com

True/False: Home magazine advertising should always be used as one of the marketing channels for your client's properties.
True
False

True/False: "Image advertising" like ads on grocery store shopping carts or public benches will increase your popularity and brand as a real estate agent and should be considered before any form of internet advertising.
True
False

Your client's home is located in a neighborhood where three comparables sold for $392,000, $440,000 and $452,000. Assuming your client's home is similar to all three, how should you first market the property to maximize it's selling price?
a) Redecorate the master bedroom to create a "romantic oasis"
b) Stage the dining room to make it look warm and inviting
c) Focus on the one key feature of the property that distinguishes it from the three comparables, and focus marketing efforts on that particular feature.
d) Implement an aggressive internet advertising campaign

The most effective strategy for staging your client's Master Bedroom is:
a) Highlighting the features of the Master Bath on the property flyer
b) Painting the bedroom a neutral color like tan or white to appeal to the greatest number of buyers
c) Creating a "reading room" within the bedroom with two wing chairs and a floor lamp
d) Ensuring the bedroom floor is always vacuumed prior to showings

True/False: Classified advertising in the newspaper should not include a reference to my real estate website. The focus in this ad should only be on the property itself.
True
False

If your client's lawn has dingy, yellow patches of grass, what should she do before listing the property for sale?
a) Seed or re-sod the lawn
b) Nothing. Most buyers can see beyond these minor imperfections
c) Consider reducing the price to compensate for the lawn's appearance
d) None of the above

True/False: Automatic sprinkler systems aren't necessary and usually don't add to a home's value.
True
False

Higher-end homes usually sell faster if the exterior has:
a) Light colors that make the home appear much larger
b) A combination of stone and stucco
c) Earth-toned colors
d) None of the above

True/False: Using the number 9 in the price of a home (for example, $179,999) always makes the home appear less expensive and should be used as much as possible.
True
False

True/False: The comparative market approach of assessing home value is the only viable method for establishing the perceived value of a home.
True
False

In a neighborhood where the homes are very similar, and recent comparables have sold within a close price range, the appropriate strategy should be:
a) Given that our client's home has a commodity-like nature, the best that we can possibly do is sell the home at the upper end of the sales range for that particular neighborhood.
b) Price the home at the lower end of the comparable sales range to get the home sold
c) Price the home above the upper end of the sales range for that particular neighborhood
d) None of the above

True/False: Buyers typically search for and buy homes in very defined price quadrants.
True
False

The best strategy for making your client's closet appear larger and more desirable is:
a) Paint the inside of the closet a bright white
b) Remove 50% of the clothing and items
c) Organize the closets by adding shelves
d) All of these

The best strategy for creating the illusion of space in almost any room is:
a) Ensure the blinds are always open to allow sunlight in
b) Convince your client to paint the room with a bright white
c) Remove as much furniture as possible
d) None of these

True/False: Most buyers will look beyond outdated kitchen appliances.
True
False

True/False: A kitchen upgrade usually adds more value to a property than adding a deck.
True
False

True/False: As long as they are working, buyers pay little attention to home's heating, ventilation and air conditioning systems when they make their offers.
True
False

The best strategy for remodeling the bathroom on the main floor is:
a) Use unique colors to help buyers remember the bathroom
b) Replace linoleum tiles with designer tiles or hardwoods
c) Spend just enough to update older bathrooms
d) All of the above

True/False: Quality granite kitchen countertops usually add significant value to kitchens.
True
False

True/False: Master bathrooms should always be upgraded as much as possible to increase the value of your client's homes.
True
False

To register your personal real estate website for sponsored advertising on Yahoo! you will need to:
a) Submit your website organically to all the major search engines
b) Create an account on overture.com
c) Go to Yahoo.com real estate section
d) None of these

True/False: The nature of real estate buyer searches has changed drastically. Most buyers now initiate their searches over the internet instead of opening the real estate classified section of their local newspaper. My marketing campaign should focus on this paradigm shift.
True
False

When you buy pay-per-click advertising through overture.com, your personal real estate website will usually be advertised on the following search engines:
a) Google and Yahoo!
b) Google, AOL, and MSN
c) Yahoo!, AOL and MSN
d) All of the above

The most powerful strategy for enhancing your real estate classified advertising is:
a) Only advertise in the classifieds when you are holding an open house
b) Put a link to your personal real estate website in the ad so buyers can view multiple photos of the property
c) Use a bold headline to make the ad stand out on the page
d) None of these

True/False: The online edition of your local newspaper should be avoided.
True
False

True/False: Your online property listings will get significantly more interest if they have multiple photos or virtual tours.
True
False

A good example of the creation of lead-item value is:
a) Advertising your client's property on at least three leading real estate for sale websites
b) Creating value perception differential
c) Staging an ordinary living room using warm, inviting paint colors and pretty china and silverware on the table.
d) All of the above

The Variant Pricing Model assumes that there is a wide gap in the selling price of comparable sales within your client's neighborhood and, therefore:
a) You should focus your marketing efforts on the unique features of your client's home to help it sell at the higher end of the comparable sales range
b) The selling price of your client's home should be an average of these comparables
c) both (a) and (b)
d) None of the above