CPPREP4103 Establish Vendor Relationships Assessment Task 1

ASSESSMENT TASK 1 – Multiple Choice Questions

Please review the questions below and select the correct answer, e.g., a or b

1. Which of the following is not an example of a prospecting method for properties for sale?
   1. doorknocking
   2. conducting open houses
   3. buying a rent roll

2. Keeping in touch with your past clients for referrals is a powerful form of ‘word-of-mouth’ marketing. People tend to trust the recommendations of their family and friends over other sources.

• true
• false

3. All prospecting is an opportunity to put prospective vendors, as prospects, into a database. This assists the agent in… (you may choose more than one option)

1. determining the quality of the lead
2. knowing what stage, they’re at in the sales cycle
3. tracking both potential and existing customers
4. servicing their buyers.

4. When you provide your estimate of the selling price to a vendor as part of your presentation…

1. it should be greater than 10% above what you think it’s worth
2. you should base this price on a reasoned and well-researched Statement of Information
3. it does not have to be substantiated the vendor sets the price
4. it can be based on sale of any other property

5. Which of following information should form part of the feedback to be communicated to a vendor?

1. clear market feedback on the price of their property
2. actionable market feedback
3. market comparisons
4. steps to improve the marketability of their property
5. all of the above