Real Estate 1 GEOBy admin / August 24, 2019 1. How are real estate professionals paid? Salary Commission By the hour None 2. How many homes does the average American purchase in their lifetime? 1 3.5 3 None 3. What is the average home price for September 2017? Over $100,000 Under $200,000 Over $300,000 None 4. Choose all the statements below that are true. Veterans do not have to have a down payment Veterans do not need to have mortgage insurance VA Loans are guaranteed by the federal government 5. Certain Veterans are eligible for a grant up to what amount to purchase, build, modify, or pay down a existing mortgage? $13,355 $6,535 $81,080 None Hint 6. Easy Geo offers Real Estate Professionals which of the following? a) Veteran Leads b) Huge amount of phone calls d) Personalized VA Benefit handbooks to use as training and as gifts None 7. One reason why Real Estate professionals value our service? Real Estate professionals are valued friends Because we provide exposure to a valued customer - Veterans Veterans are such nice customers None 8. What type of property can a Veteran purchase using the VA Home Loan benefit? Condo Farm Single Family Residence All of the above None 9. Of the three (3) easy steps to obtaining a VA Home Loan, Easy Geo Fencing and Hometown Hero Project specializes in helping the Veteran do what? Obtain his/her Certificate of Eligibility Finding the right home for his/her taste Finding a real estate agent and/or lender None 10. What is a requirement for obtaining the Specially Adapted Housing Grant? Disabled Veteran In need of a home Purple Heart recipient None 11. Why would a Real Estate professional want to market themselves as not only the VA Home Loan specialist, but also the VA Home Grant specialists? Because there is likely few local real estate professionals who market themselves as specialists in both areas Because being a specialists in both areas may stimulate additional Veteran interest Because being able to market themselves as specialists in both areas gives them a potential edge over other Non-Veteran Preferred real estate professionals in their local market All of the above None 12. It is ok to say? "We'll push the payment out 30 days to show you that this works." Yes No None 13. On a $250,000 home, because there is no mortgage insurance with a VA loan, a buyer could afford a home worth $42,000 more with the same monthly payment, and would result in how much more in commissions for the realtors? $180 6% $2500 None Hint 14. It is ok to ask? "Let me ask you something, how many homes would you have to sell to pay for this service?" Yes No None 15. It is ok to say? "Since a single home sale would pay for this service, let's get you started and get you some calls. Then, I will push the payment out 30 days and even divide it into four payments." No Yes None 16. Would it be ok to ask a potential client? "Do you know that besides the generous VA Guaranty Loan benefits, certain Veterans may be eligible for a grant up to $81,080 to purchase or build a home?" No Yes None 17. Are all Veterans eligible for the VA Grant to purchase or build a home? Yes, all Veterans can get this free money Only Vietnam Veterans No, the grant is for certain Veterans who, while serving our country, were disabled None 18. Compared with 63% of non-veterans, what percentage of Veterans own a home? Over 20 Million 79% 1/6th of the entire homebuyer population None 19. Are you allowed to state, imply or otherwise suggest that the sale in contingent upon leads, calls, sales, or "seeing how it works". Yes, if the customer is paying upfront No, never It all depends on how it is said None 20. The seller is responsible for paying both agents commission True False None Real Name/Stage Name Unit Time's up
