Only 11 percent of buyers and 28 percent of sellers choose a real estate practitioner based on their previous experience with that person, according to research by the NATIONAL ASSOCIATION OF REALTORS®. Those numbers show that there’s plenty of room for improvement when it comes to garnering repeat business. Take this quiz to find out if you’re doing what it takes to keep customers for life.
Since it took effect May 1, 2009, the Home Valuation Code of Conduct (HVCC) has generated significant commentary among real estate professionals, appraisers, and lenders—as well as plenty of uncertainty over exactly what the agreement does and does not allow. The HVCC is a set of guidelines to curb inaccurate appraisals developed by New York Attorney General Andrew Cuomo and the two secondary mortgage market companies Fannie Mae and Freddie Mac, with support from their regulator, the Federal Housing Finance Agency. In general, the guidelines seek to ensure an arm's length relationship between the lender making a loan and the appraiser who assigns a value to the house. It also sets forth a process for addressing incidences in which appraisal misconduct is suspected. Test how much you know about the new appraisal guidelines.
The Code of Ethics and Standards of Practice establishes rules for the highest ethical conduct and professionalism. It’s what distinguishes you as REALTORS® from other real estate licensees. Take this quiz to see how well you know your Code.
Think you're pretty well versed in federal fair housing law? Answer these 12 questions to see whether you're ready to tout your fair housing know-how to your clients and customers.
There are many obstacles that can get in the way of a successful closing. The best real estate practitioners know how to prepare their clients well for settlement day and handle any unexpected events that happen along the way. Take this quiz to see if you know how to respond to situations and questions that arise around closing time.
When you work in real estate, you’re constantly in the public eye. It’s important to keep up a professional image and use proper business etiquette. Former real estate broker Anna Wildermuth, who is now an executive image consultant with Chicago-based Personal Images Inc., helped us create this quiz so you can fine-tune your public image.
You know your listings are beautiful, but how well can you describe them to prospective buyers? To test your architectural savvy, take our quiz.