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MARKETING THE NUMBER ONE SKILL
TO HAVE QUESTIONS AND ANSWERS
WITH VERIFIED SOLUTIONS 100%
CORRECT (GRADED A+)
4 Main Reasons Why Marketing is the Most Important Skill ✔✔
- It drives consistent leads into your business pipeline.
- Buyers dislike being "sold to"—marketing builds trust first.
- Many businesses lack effective marketing strategies.
- Strong marketing differentiates you from the competition and makes you the go-to choice, even if you're not the cheapest. Definition of Marketing (Real Estate Blueprint) ✔✔ "Getting known." Marketing is about visibility and recognition in the market. Goal of Marketing ✔✔ To get the prospect to initiate contact. Definition of Sales (Real Estate Blueprint) ✔✔ Identifying and fulfilling wants and needs. Goal of Sales ✔✔
- Set clear expectations
- Define price and terms
- Agree on a timeline Definition of Production (Real Estate Blueprint) ✔✔ Delivering a product or service that fulfills the identified wants and needs.
Goal of Production ✔✔ To create a raving fan —a client so satisfied they promote your service. Definition of Accounting (Real Estate Blueprint) ✔✔ Understanding the impact of transactions on financial health. Goal of Accounting ✔✔ To assess and track financial well-being of the business. Definition of Customer Service (Real Estate Blueprint) ✔✔ Consistently going above and beyond expectations. What is the goal of customer service? - ANSWER✔✔referring clients- customers for life, referrals for life According to the "Real Estate Blueprint", what is the definition of bookkeeping? - ANSWER✔✔assimilation and recording of data What is the goal of bookkeeping? - ANSWER✔✔provide accurate data to accountants/ owner List the five purposes of marketing - ANSWER✔✔1. To capture the attention of your target market or demographic
- To engage target market/demographic
- To educate your prospects and position yourself as the obvious choice
- To position yourself as the obvious choice
- To have the customer arrive at the conclusion, "I will do business with you regardless of price!" List the 10 questions every business owner needs to answer to craft a marketing message that works - ANSWER✔✔1. What business are you in?
- What problem are you solving?
- What is your product/service?
- Who is the customer?
- Why do they buy from you?
What business are you in? - ANSWER✔✔Education The single most important thing in marketing is: - ANSWER✔✔Differentiation When the public sees your services as a commodity, they will default to ___________________. - ANSWER✔✔Price What is the difference between back-end and risk reversal in a marketing campaign? - ANSWER✔✔Back-end is where you delay profit on the front end of a transaction and make it up on the back end. Risk reversal reverses the risk from the seller or buyer to the agent. The single most important thing in marketing is: - ANSWER✔✔Differentiation The UMP is an educational, _______________ message that makes you unique. - ANSWER✔✔problem solving If you do not have a Unique Marketing Position (UMP), you are considered to be a(n) __________ and the prospect will default to price. - ANSWER✔✔Commodity A statement or phrase that defines a product or service, and its value to the consumer, simultaneously elevating, separating, and distinguishing it from all competitors is called: - ANSWER✔✔A unique marketing position According to business consultant Peter Drucker, there are two and only two functions of a business. What are they? - ANSWER✔✔Innovation and marketing In the context of marketing, what does LTV mean? - ANSWER✔✔Life Time Value The wealth of any business is in: - ANSWER✔✔The existing customer base The three steps to powerful marketing are all of the following EXCEPT: A. Say it well B. Have something good to say C. Say it often
D. Attack your competition - ANSWER✔✔Attack your competition What is reality in marketing? - ANSWER✔✔Perception The decision of whether or not to purchase is usually not how much a product or service costs. It is more about_______. - ANSWER✔✔How much value the consumer gets for the money they spend What is the first step in the four-step marketing formula? - ANSWER✔✔Interrupt It is no longer acceptable to ___________expectations. You must _______expectations over and over again. - ANSWER✔✔Meet, exceed Regarding advertising rules, the broker must notify the commission in writing within ___ days after the broker starts/stops using an assumed name in business other than the name in which the person is licensed. - ANSWER✔✔30 days On a sign or other advertising media, the broker's name or assumed name must be at least _______% of the size of the largest item of contact information. - ANSWER✔✔ 50 Your Unique Marketing Position (UMP) is ________________________. - ANSWER✔✔The solution to the consumer's problem All the following are levels of a customer EXCEPT: A. Suspect B. Subagent C. Customer D. Client - ANSWER✔✔B. Subagent Some of the steps to a successful marketing campaign is to have something good to say, say it well, and say it often. - ANSWER✔✔True Of all the following items on the website, the consumer finds it very important in their buying process to have____________. - ANSWER✔✔Images What percentage of new home shoppers use a mobile search engine at the beginning and during the entire home-searching process? - ANSWER✔✔89%
Direct mail is an "inbound" marketing strategy. A. True B. False - ANSWER✔✔False Channels are also call subgroups and are used to divide website analytics into manageable units. A. True B. False - ANSWER✔✔True A(n) _____________________ is when a user lands on your page but does not interact with it. - ANSWER✔✔Bounce Ideally you want your web page to load under ________________. - ANSWER✔✔2 seconds What is the name of the world's most popular search engine? - ANSWER✔✔Google Describe the purpose of the Landing Page - ANSWER✔✔The purpose of an ad is to quickly capture the attention of the potential customer and draw them in to learn more. The page that follows is your landing page this is where you educate and ultimately convert the potential customer. What are the two types of marketing campaigns? - ANSWER✔✔Inbound Outbound List 4 SEO analytics - ANSWER✔✔1. Site Traffic: This is the number of visitors (both total and unique) who come to your site on a daily, weekly, and monthly basis. It is important to not only understand how many came but also from which sources.
- Conversion: Sales are certainly the goal, but to maximize your efforts and optimize your sales approach, you need to know what percentage of the visitors who are presented with your offer follow through with the purchase.
- Cost Per Lead: To determine whether each source is giving you a return on your investment (ROI), you need to calculate the cost per customer that each generates.
- SEO Position - For years many businesses have been obsessed with site ranking but that is starting to change as search engines like Google are constantly changing
the way searches are done when using them. Make no mistake about it; SEO ranking is still very important. Your listing presentation should include all the following EXCEPT: A. Background on you B. 1-4 Family Contract C. Listing agreement D. Updates on the real estate market - ANSWER✔✔ 1 - 4 Family Contract If you are not face-to-face with a buyer or seller, you are ______________. - ANSWER✔✔unemployed The first visit to a FSBO is: A. To determine what repairs, if any, are needed B. To do market research C. To determine if the house needs staging D. All of the above - ANSWER✔✔D. All of the above What are the most important comparables when completing a market analysis on a property? A. Sold comparables B. Active comparables C. Expired comparables D. All three types of comparables are equally important to give an accurate analysis. - ANSWER✔✔Sold comparables The purpose of the For Sale by Owner First Aid Kit is: - ANSWER✔✔to give the seller all the standard contract forms, addenda, disclosures, settlement statements, financing information so the seller will begin to question if they know as much as they thought they knew about selling their own home. All the following are questions to ask on your first visit to the seller EXCEPT: A. Why are you moving? B. How much are you asking for your home? C. Are you moving for financial reasons? D. Have you had any activity? - ANSWER✔✔Are you moving for financial reasons?
All the following will increase your efficiency EXCEPT: - ANSWER✔✔Respond to emails throughout the day as soon as they hit your inbox so that they don't overwhelm you at the end of the day All the following are reasons to keep things clutter-free EXCEPT: A. It helps you from becoming distracted. B. It is more relaxing. C. It is more interesting. D. It saves time. - ANSWER✔✔It is more interesting Studies by Edwin Locke show that more ______ goals lead to more performance improvement than ________ goals. - ANSWER✔✔Ambitious, general When people are given positive feedback both during and after acting on their goals, people achieve even more. - ANSWER✔✔True All the following are principles that lie behind effective goal setting EXCEPT: A. Challenge B. Clarity C. Responsibility D. Feedback - ANSWER✔✔Responsibility The one negative about setting goals is that often they keep you from seeing opportunities. - ANSWER✔✔False List the 5 time management myths - ANSWER✔✔1. You can manage time.
- I have no time for down time.
- I have to be available 24-7 to succeed.
- I'm the only one who can do it.
- Taking time off will cause my business to decrease. Why is it encouraged to be a strong listing agent? - ANSWER✔✔Listings are a way to leverage in the business. What is NOT an example of a time stealer? A. Throw things away B. Procrastination C. Lunch break
D. Too much work - ANSWER✔✔Throw things away When managing your time, it is important to ______________. - ANSWER✔✔Be flexible. Define the three-fold goal of Sales - ANSWER✔✔1. You get clear expectations from the customer or client about what they want or need.
- You establish the price and terms.
- You agree on time frames. What are the two type of agents? - ANSWER✔✔1. One who goes for the commission
- One who goes for the relationship What are the four DiSC personality types? - ANSWER✔✔1. Dominant
- Influential
- Steady
- Compliant Which DiSC personality is bad with time? - ANSWER✔✔Influential Which DiSC personality delays decision making? - ANSWER✔✔Steady What does a High D want? - ANSWER✔✔Authority, challenges, prestige, freedom, varied activities, growth assignments, "bottom line" approach, opportunity for advancement. According to the author, which is considered to be the most important and valuable Sales tool to have at your disposal? - ANSWER✔✔Using the DiSC personality profile On the telephone with a high 'S,' which choice represents the high 'S' preference? - ANSWER✔✔Be friendly and non-threatening - don't introduce change unexpectedly. What is the definition of a 'Tie Down'? - ANSWER✔✔To ask a client a question after they have made a positive statement that reinforces what they just said
