texas sae real estate brokerage test 2023 Questio

ns and Answers complete

texas sae real estate brokerage test 2023

Questions and Answers complete

A consistent disparity in listing versus selling prices may reflect ___________. AnsInaccurate competitive market analyses

Which of these would be an advantage for the broker of hiring licensees as salaried

employees, rather than as independent contractors on a commission-based

compensation plan? Ans- Sales agents will probably make fewer errors as a result of

more broker control and supervision.

Which option best describes what an environmental impact statement is? Ans- It

describes and analyzes a proposed action that may have a significant effect on the

environment.

When Andrew schedules a sales meeting at his brokerage, he prepares well in advance

by ___________. Ans- Developing an agenda, talking points, visuals, and handouts

What is a flat-fee pricing strategy? Ans- Clients are charged a pre-set fee for a predetermined service.

The Brendon Group is evaluating a new market and wants to know the market's cultural

composition. That's likely because _________. Ans- The licensees don't do any active

selling.

Which of the following actions could compromise your security when meeting with a

customer for the first time in the field? Ans- Ignoring a lewd comment

Alison is taking steps to become the owner of her own real estate brokerage, Honesty

Homes. She and the two real estate professionals who will become her first employees

are drafting the firm's vision statement. Which of the following should be included?

Ans- A statement of what the company's future results, achievements, and successes

will be

Commonly, the Federal Trade Commission will receive leads about a potential antitrust

violation through which avenue? Ans- Hearing consumer complaints

A leader who displays the quality of being a visionary is able to do what? Ans- Look

ahead at trends to meet future market demands

A coaching framework is useful at a brokerage because ______. Ans- It gives

structure to the coaching process, which helps it be most effective

Rachel is subject to court-ordered supervision due to an antitrust violation. This

oversight may continue for as long as ______. Ans- 10 years

Reese and his staff have developed an engaging, action-oriented listing presentation to

present to potential sellers. Which component in the marketing model does the listing

presentation represent? Ans- communicating

Personality type models should be used to ____________. Ans- inform and

understand

Sarina's firm primarily uses electronic marketing communications, including emails,

Twitter feeds, and Facebook posts. Which of the following marketing tools might receive

special attention? Ans- A hand-written thank you note

A(n) ________________ is certain to save a brokerage money. Ans- Culture of

retention

Edgar and his management staff identified their work with real estate contracts as a

potential risk to the firm. If Edgar hires an attorney to review every contract written in his

office, which risk-handling strategy does this represent? Ans- transfer

If you're going to take advantage of cloud computing to store sensitive client

information, you will need what security measures to protect the data? Ans- Strong

passwords, limited access, and virus protection

Cityville administrators are trying to control urban sprawl, but they still need to plan for

the growing population. They've revamped zoning laws to allow residential units to be

built on smaller lots, and multi-family housing to be built in areas once zoned for singlefamily housing. Which real estate trend does this describe? Ans- Increased density

Which of the following factors most directly determines the complexity of an

organization's operating structure? Ans- number of job roles

Nat has a friend who's in the home construction business, and he says that in the last

six months, there's been an increased demand from developers to build homes that are

more energy efficient and use sustainable, non-toxic building materials. What current

market trend is this an example of? Ans- Greener buyers

Which of the following is one of the IRS requirements for a real estate brokerage worker

to be classified as a statutory non-employee? Ans- The individual and the employing

broker have a written contract.

A broker is following a problem-solving process to handle a situation in which one of her

licensees has violated a brokerage policy. Which of these actions must be part of the

solution she pursues to resolve the problem? Ans- Communication

Broker Sam has extended an offer to licensee Jane, who has accepted the offer. Jane

will work as an independent contractor for Sam. Based on this, which of the following

statements is true? Ans- Jane will need to fill out a W-9 for IRS reporting purposes.

Independent contractors are required to fill out a W-9 for IRS reporting purposes. Only

actual employees are required to complete the W-4.

Population growth and decline in an area is usually the result of which type of changes?

Ans- Employment opportunities

Who in a brokerage firm should know the firm's code of ethics? Ans- Everyone

How do government regulations impact a real estate brokerage? Ans- By increasing

liability (more to comply with)

Which of the following is one of the IRS requirements for a real estate brokerage worker

to be classified as a statutory non-employee? Ans- The individual and the employing

broker have a written contract.

the written contract must describe the real estate services that the individual will perform

and must explicitly state that the individual will not be treated as an employee for federal

tax purposes.

income statement might also be called the ________. Ans- Statement of profit or loss

Charli is thinking about buying only liability insurance for the office building she owns.

She knows she'll have to pay for any damage to the building. What factors should Charli

consider in making this decision? Ans- Her willingness and ability to withstand the risk

posed by carrying only liability insurance (risk tolerance)

Up the Hill Realty has purchased a contact list. New licensees at the brokerage are

asked to spend three hours a week cold-calling individuals on this list. Which of these

actions is NOT one they need to take before making these calls? Ans- Create a fake

phone number that individuals will see on their caller ID.

Alison has written the mission and vision statements and defined objectives for her up

and coming brokerage business, Honesty Homes. Now it's time to set some goals. She

asks her mentor, brokerage owner James, for some guidance on what goals are, and

how to write them. What advice do you think James would offer Alison?

Goals regarding future revenue should be based on solid assumptions.

Goals should be challenging and based on what experienced competitors are doing.

Goals should be specific, measurable, attainable, realistic, and timely.

Goals should have strict start dates and flexible end dates.

Goals should be SMART: specific, measurable, attainable, realistic, and timely. AnsGoals regarding future revenue should be based on solid assumptions. X

Goals should be challenging and based on what experienced competitors are doing. X

Goals should be specific, measurable, attainable, realistic, and timely.