GRI FINAL EXAM QUESTIONS WITH COMPLETE 100%VERIFIED SOLUTIONS 2024/2025, Exams of Business Administration

Download GRI FINAL EXAM QUESTIONS WITH COMPLETE 100%VERIFIED SOLUTIONS 2024/2025 and more Exams Business Administration in PDF only on Docsity! GRI FINAL EXAM QUESTIONS WITH COMPLETE 100%VERIFIED SOLUTIONS 2024/2025 The Do Not Call Act Prohibits Calls to -- residential and cell phone numbers registered with Federal Trade Commission. Do Not Call Act Exception include: Call may be placed for up to 18 months after the last transaction to a consumer with an established business relationship. A consumer who made an inquiry may be called for up to 3 months from the initial inquiry. A consumer who has given written permission CAN-SPAM set--- rules for all sending commercial email. CAN SPAM requires all commercial email to contain: An opt out Mechanism which is to remain active for at least 30 days after the message transmission. A clear and conspicuous notice that the message is an advertisement. A legitimate return email address A valid physical In the sales process, the listing agent is most responsible for- Marketing the property The NAR 2012 Home Buyer and Seller Survey, reports that the successful sale of FSBO properties increases slightly to 6% when: eliminating material relationship transactions. Per NAR Survey the number 1 reason that seller attempt to sell their property FSBO is: their reluctance to pay a commission 3 types of behaviour that can be displayed and encourage when in a negotiation Red, Blue and Purple What color is recognized as representing a win-win behaviour Purple Two types of negotiation strategies are: adversarial and interest-based. Interest-based is recognized as producing win-win results. BATNA stand for-- Best Alternative to a Negotiated Agreement BATNA is the best option if the current negotiation fails When conducting a negotiation, it would be considered prudent practice to: Ask effective questions Explain the process to your client Ask for a concession in return for giving one A REALTOR must take responsibility for what is conveyed to all parties and prevent their personal opinions from causing the buyer and seller to dislike each other. When counter-offering you should avoid negotiating down to only one item - if the only thing you are negotiating is price, you lose Leverage. To maintain your reputation and gain the respect of all the parties in the negotiation, a REALTOR should Keep all appointments Return calls in a timely manner fulfill promises Technology Tools to build your busines About.me City-Date.com Google Alerts (www.google.com/alert) Mention.net Trulis.com Zillow.com Largest provided of E-forms? ZipForm- Exclusive form software to NAR When an agent use TBD in a contract The contract will be void property sold subject to Due diligence period Time period to discover defects and righet to seek to address concerns through mutual agreement. If buyer fails to givetimely notice, buyer will have accepted property as is True Property sold as is Property sold withall faults. Sellerhaz no obligation to make repair to property Does not eliminate Arbitaion if not resolved. And must be confidential Mediation The listing Broker, by agreement with the seller, is responsible for sharing commission with other brokers The listing broker should present all multiple offers, regardless of their terms Agents who do not disclose their real estate license in personal transactions are violating license law All material facts known by a licensee must be disclosed, even if such knowledge comes after a contract is written. Why do foreign investor buy property in the US? Who are they, and what and where do they buy? opportunity for stable returns at lower risk, the size of US market and availability of property, Political and economic stability, Market liquidity What are some difference between working with foreign buyers and working with local clients and customers? Compare foreign and immigrant customers withdomestic buyer. Avoid business practice that could "turn off" a foreign or immigrant customer. What should a real estate professional do to be successful in today's global market? Prepare for working in today's diverse market. Apply practice to succeed in the international real estate business. Why is it important to have knowledge about the international real estate market. Impact of current and predicted population and new household creation trends. How much property in the U S do foreign homeowners and investors own and what is the impact of the global market on the local real estate market. Economic benefits of foreign investment what global market factors and trends are driving change in the us market? Factors contributing to the globalization of business in your local market. Elements of a 1031 RExchange Like-Kind Property Strict time periods (45/180) Equal or greater value, (spend equity / replace/debt) IRC section 1031 On gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for Investment if such property is exchanged.solely for property of like kind which is to be held either for productive use in a trade or business or for investment. Like Kind property Rental Home or Condo, Land or Ranch, Office building, Tenant in common Fractional interest and Apartment Cash BOOT when you have to pay tax on the cash not spent Reverse Exchanges Previously considered aggressive, Approved by IRS, "Safe Harbor " technique is available, Two variation of reverse exchanges Property Conversion You have to have own for 5 years what website feed to all social media hootsuite.com