C) geographic segmentation Its important that sellers realize that a counteroffer is actually a rejection of the original offer, and by submitting one, they are giving the buyers an easy out if they want one. Which of the following are reasons for business marketers to employ relationship marketing activities? How would Grant_s lease at this time be classified? a) All residential property b) Homes built prior to 1978 c) Only commercial property d) Only rental property. B) segment identification b) are less flexible than government-backed loans . 10) Which statement about prorated items is TRUE? There is no obligation of a seller to disclose the defect, though the seller has a mandatory duty to complete the Disclosure Statement. a) The lender calculates what's owed and tells the buyer what to bring. c) is subordinate to a first mortgage. D) user status Prepare the appropriate journal entry to record income taxes. Answer: B d) carry prepayment penalties, while government-backed loans do not. C) Small manufacturers tend to have formal buying procedures and guidelines. This action is based on which mortgage feature? D) need-based segmentation If the dispute cannot be resolved the firm should allow the transaction to close and then bring a lawsuit against the seller for the commission, but the brokerage cannot hold the transaction between the parties hostage. E) segment identification, Answer: E c) The Torrens title record is the title itself. d. all of the above d) void. Obtaining commitment deals only with securing an order. Fill out a separate, numbered counteroffer form. Exert pressure on the sellers to include something the other party wants. D) accessible #15. Diff: 2 5) Which statement is true about accepting referral fees? Having strong relationships with customers can be hard for competitors to understand or duplicate. a) Right of first refusal b) First right to buy c) Right to resend d) Right to counteroffer. share plus a$100 brokerage fee. A) measurable 3) Prospecting for buyers has a much lower return on output than prospecting for sellers. d) denied. The home is listed at $210,000. b) a 3 percent down payment. 11) The dimensions in the VALS framework are consumer resources and ________. e. none of the above, For collaborative customers, the business marketer should: b) Only attorneys can hold and deposit earnest money. Which of the following clauses is required by the NC Real Estate Commission to be contained within every listing agreement? According to the North Carolina Real Estate Commission, who is held responsible for this nondisclosure? a) A certificate issued by a local building department that indicates that the building is in proper condition to be occupied. 2) If an attorney make changes to an offer, what action should follow? a) Act within a statutory period. a) It represents a "meeting of the minds." 8) Conventional loans are typically uninsured. 7) Which kind of lease increases at specified intervals? Transactions that are almost, if not entirely, void of a close, collaborative relationship: d. all of the above If the buyer rejects the first counteroffer, the seller can accept the first offer. b) In a sublease, the original tenant retains primary responsibility for performance of the original lease contract. They were counting on a full-price offer and are very disappointed. b. value proposition A) personal characteristics c. Buyers prefer collaborative relationships when the purchase decision is not complex. d) require higher down payments than government-backed loans require. b) The optionor must perform if the optionee takes the option, but the optionee is under no obligation to do so. _____ centers on all activities directed toward establishing, developing, and maintaining successful exchanges with customers and other constituents. A) It obligates the seller to transfer the property if the broker procures a ready, willing, and able buyer. 1) What is another term used to describe a promissory note? b) It requires certain conveyance-related contracts to be in writing. c) A chronology of successive owners of record of a parcel of real estate. c) a payment cap. A) need-based segmentation B) A segment is unattractive if buyers possess strong or growing bargaining power. b. involve long-term, contractual commitments. A) attitude a) The contract must be rewritten and signed again. Diff: 2 9) Bill has informed his landlord that he will be moving in 30 days. e. (a) and (b) only. AACSB: Reflective thinking, 45) If an organization's marketing department wants to create "segment storyboards" to test the attractiveness of each segment's positioning strategy, it would most likely occur in the ________ step of the segmentation process. 5) Which aspect of a contract deals with when a tenant takes possession of the property? Discuss the accuracy of this statement. Which statement is true? 2) Jim signed a six months lease. LO: 6.1: In what ways can a company divide a consumer or business market into segments? 5) Which contract provision allows for the transfer of the contract to another person? When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? The agent should point out that price is only one aspect of the offer and then go on to discuss the other terms of the agreement that may appeal to the sellers. What is important for the sellers to know about a counteroffer? 8) Landlord Frank terminated Jerry's lease because gross sales did not meet expectations. a) Holdout tenant b) Holdover tenant c) Tenant at-large d) Tenant in-arrears. 7) A buyer submits an offer to a seller. A. 2) Which of the following terms is not used to describe a binder? b. technical 6) A homeowner's insurance policy typically covers all but which of these? Business marketers track customer loyalty and retention because: However, the client and the firm can agree to extend the listing period by mutual agreement and a properly executed addendum. A) measurable 1) Prospecting for buyers is easier than prospecting for sellers. What type of loan is Steve getting? It is true, that the United States Housing Market can be "unpredictable, volatile and cyclical." I believe it is crucial to familiarize ourselves with the pa. Subprime Mortgage Crisis The Federal Reserve worried that low interest rates encouraged risky borrowers to own a home; therefore, interest rates rose from "1 percent to 5.25 percent". What type of loan does Jim hold? #9. 6) Mark earns $185,000 a year and he pays $2,200 per month for a rent-stabilized apartment. Diff: 2 d) He has given notice of vacating. 9) Sellers Glen and Jill are closing on their home sale next week. Anti-trust laws prohibit all of the following, EXCEPT: A. property management companies all agreeing to charge standardized management fees, B. three different brokerage firms allocating markets based on the value of homes, C. real estate companies agreeing not to cooperate with a broker because of the fees that broker charges, D. a broker requiring all the agents of his firm to join the local listing service, a broker requiring all the agents of his firm to join the local listing service. 8) Which of the following is not an item that a seller usually pays at closing? The sellers make no warranties for the property but must answer truthfully if asked about defects. 1) What type of document does a home owner sign when agreeing to a mortgage? #13. 3) Recording the deed is done through which of these? A) macrosegmentation a) 10 percent b) 15 percent c) 20 percent d) 25 percent. How are unrealized gains and losses treated differently for available-for-sale securities Biden Raises Costs for Homebuyers With Good Credit to Help - Newsweek E) segment "acid test", Answer: C _____ illuminates exactly what activities are associated with serving a particular customer and how these activities are linked to revenues and the consumption of resources. b. 2) According to contract law, every valid contract is also what?