PART 1: Study Guide
Chapter 3:
1. Discuss the laws that directly affect the processes of listing and marketing a property
2. Explain the ways in which antidiscrimination, antitrust, and environmental laws affect the practice of real estate
3. Describe how the Real Estate Law affects the payment and sharing of commissions
4. Identify protected classes under federal & state antidiscrimination laws, and penalties for agents and property owners who violate those laws
5. Describe the actions agents should take when marketing a property, in order to avoid charges of discrimination
6. Recognize environmental hazards that may be present in a property
Chapter 4:
1. Discuss agent’s role in evaluating market data to help price seller’s home
2. Distinguish between the different types of value, and explain the relationship between value,price, and cost
3. List the key factors in choosing comparable properties
4. Explain the step-by-step process involved in performing a competitive market analysis
5. Describe the strategies an agent may pursue if an appraisal comes in lower than the sales price agreed to by the buyer and the seller
Chapter 5:
1. Identify sources and activities that can generate listing clients
2. Describe the basic steps involved when listing a property
3. Discuss the process of finding a buyer and getting offers
4. Explain the ways an assistant can help an agent, and practices to avoid