Real Estate Selling Strategies

Test Your Knowledge for Maximum Return

Many people consider their home their most valuable asset, and selling it can be nerve-racking. Strategic blunders are often costly, especially in today's beleaguered market.

Take our quiz to test your knowledge and prepare for a successful home sale.

Select the best answer for each question

1 When inventory is high and demand is low, what is typically the best pricing strategy for getting the highest offer while still selling the home quickly?

A Set a low asking price to attract multiple offers.

B Calibrate the asking price based on what comparable houses nearby sold for in the past month or so.

C Calibrate the asking price based on what comparable houses nearby sold for in the past year.

D Initially price the home at a premium to test the market, and plan to cut the price a week later if needed.

2 The commission sellers pay to their agent's brokerage is:

A Fixed by state or federal law.

B Set at 6%.

C Set at 3%.

D Negotiable between the seller and the broker.

3 When preparing a home for sale, which of the following would typically provide the best return on investment?

A Applying a neutral coat of paint in the living room.

B Buying a new couch and coffee table.

C Installing a new kitchen countertop.

D Remodeling the en-suite bathroom.

4 How can a professional pre-listing inspection benefit a seller?

A It legally shields the seller from disclosing known property defects to the buyer.

B It gets rid of the need for the buyer to order his or her own inspection, potentially speeding up the closing process and saving the buyer money.

C It allows the seller to address necessary repairs ahead of time, reducing the chance of price renegotiation or the deal falling apart later.

D It gives the seller a right to turn down any repair requests from the buyer after the offer is formally accepted.

5 In what month do median home sale prices peak?

A January

B April

C June

D July

6 A seller accepts an offer of $500,000 that includes an appraisal contingency. The official bank appraisal comes back at $470,000. Which of the following outcomes is least likely?

A The seller agrees to lower the sale price to the appraised value of $470,000.

B The seller issues a notice of termination and places the home back on the market.

C The seller is forced to cover the $30,000 gap in cash before the lender will approve the loan.

D The buyer terminates the contract and receives earnest money back.

7 A seller is never required to disclose whether the property is believed to be haunted.

A True

B False

Your Real Estate Knowledge Assessment

0/7

SCORE

Answers Summary

Real Estate Selling Strategies Quiz | Designed with vibrant colors and roll paper aesthetic

All questions based on real estate market analysis and best practices