BG1 ALT 2 RE ENGLISH FINAL EXAM
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Questions and Answers

What is the term for 'Ground floor' in the UK?

  • Street level (correct)
  • Mezzanine level
  • First floor
  • Basement level

    • What does 'Landlord or landlady' refer to?

  • Property owner who rents to a tenant (correct)
  • Property seller
  • Property manager
  • Property buyer

    • What is the term for 'Lift' in the UK?

  • Moving walkway
  • Staircase
  • Elevator (correct)
  • Escalator

    • What does 'Tenant' mean in real estate?

    <p>Person who rents real estate and pays rent</p> Signup and view all the answers

    What is the minimum academic qualification required to become a real estate agent in France?

    <p>Bac + 2 diploma</p> Signup and view all the answers

    What details must be included in rental ads according to the regulations in France?

    <p>Monthly rent, security deposit, and fees due</p> Signup and view all the answers

    What is Negative Equity in real estate?

    <p>When a property's value is less than the outstanding mortgage</p> Signup and view all the answers

    What is the purpose of No Sale, No Fee in real estate?

    <p>A fee structure for real estate agents where they only get paid if the property sells</p> Signup and view all the answers

    What formalities are involved when hiring a collaborator or employee as a real estate agent in France?

    <p>Written agreement and social security registration</p> Signup and view all the answers

    What does APR stand for in real estate?

    <p>Annual Percentage Rate</p> Signup and view all the answers

    What does OMV stand for in real estate?

    <p>Open Market Value</p> Signup and view all the answers

    What does En-suite refer to in real estate?

    <p>A bathroom that is accessed from a bedroom</p> Signup and view all the answers

    What is 'Attestation d'acquisition' in the context of property?

    <p>'Receipt confirming delivery, acknowledgment of receipt'</p> Signup and view all the answers

    'Assurance habitation' refers to what in the context of property?

    <p>'Household insurance'</p> Signup and view all the answers

    'Avant-contrat' is a preliminary agreement in the context of property related to what?

    <p>'Preliminary agreement'</p> Signup and view all the answers

    'Appartement meublé' refers to what type of apartment?

    <p>'Furnished apartment'</p> Signup and view all the answers

    'Bon de visite' is related to what aspect of property viewing?

    <p>'Property viewing form signed by prospective buyers'</p> Signup and view all the answers

    What does 'adverse possession' refer to in the context of property ownership tax?

    <p>Claiming ownership of a property after occupying it without consent for 30 years</p> Signup and view all the answers

    What does 'power of attorney' or 'procuration' refer to in the French legal system?

    <p>A legal document authorizing someone to act on another person's behalf</p> Signup and view all the answers

    What is an important aspect of meeting with clients before beginning the real estate journey?

    <p>Developing a trusting relationship with the client</p> Signup and view all the answers

    Which technique is recommended for questioning clients to yield richer conversations?

    <p>Asking open-ended questions</p> Signup and view all the answers

    Why is repeating what the client said in your own words important?

    <p>To ensure a clear understanding and alignment</p> Signup and view all the answers

    What does using an assertive order instead of a question demonstrate when interacting with clients?

    <p>Genuine interest in the answer</p> Signup and view all the answers

    Why is mirroring client behavior considered helpful in developing rapport?

    <p>Helps develop rapport and mutual understanding</p> Signup and view all the answers

    What is the French term for a 'building permit'?

    <p>Permis de construire</p> Signup and view all the answers

    In real estate context, what does 'Clause suspensive' refer to?

    <p>Conditions that must be met before a sale can be completed</p> Signup and view all the answers

    What does 'État des lieux' refer to in real estate?

    <p>The physical status of an apartment or building, including an inventory of fixtures</p> Signup and view all the answers

    What is a 'Plan cadastral' in French real estate?

    <p>Land map</p> Signup and view all the answers

    'Terrain à bâtir' is the term for:

    <p>Building land or land designated for construction</p> Signup and view all the answers

    What is an 'expert immobilier' in real estate?

    <p>Chartered surveyor</p> Signup and view all the answers

    What does 'emménager' mean in real estate context?

    <p>To move in</p> Signup and view all the answers

    'Unilateral agreement to sell' is called:

    <p>'Promesse unilatérale de vente'</p> Signup and view all the answers

    'Déclaration d'achèvement des travaux' in real estate context refers to:

    <p>Declaration of building work completion for tax purposes</p> Signup and view all the answers

    'Droit de préemption' refers to:

    <p>The right to buy in preference to others, also known as a pre-emption right</p> Signup and view all the answers

    'Notarial certificate of purchase' is called:

    <p>'Acte de vente'</p> Signup and view all the answers

    'Huissier (de justice)' is responsible for:

    <p>Serving legal documents in real estate transactions</p> Signup and view all the answers

    What must real estate agents provide to employees acting on their behalf?

    <p>Authorization certificate justifying their skills and authority</p> Signup and view all the answers

    What is the role of a commercial real estate agent?

    <p>Acting as an intermediary between buyers and sellers</p> Signup and view all the answers

    What are commercial real estate agents not allowed to engage in?

    <p>Legal consultations</p> Signup and view all the answers

    What is a mandatory condition for exercising as a real estate agent?

    <p>Having a level IV diploma</p> Signup and view all the answers

    What is the requirement for exercising as an employee of a real estate agency?

    <p>Having a high school diploma</p> Signup and view all the answers

    What type of compensation can employees of real estate agencies receive?

    <p>Salary and commission</p> Signup and view all the answers

    What is required for the renewal of the professional card for employees of real estate agencies?

    <p>Passing a professional exam</p> Signup and view all the answers

    What is the right of employees of real estate agencies regarding clientele development?

    <p>They can develop their own clientele with permission from the real estate agent</p> Signup and view all the answers

    What is the requirement for employees of real estate agencies to be entitled to employee social protection?

    <p>Being under an employment contract</p> Signup and view all the answers

    What is the term 'plus-value' referring to in the real estate context?

    <p>Capital gains</p> Signup and view all the answers

    What technique is recommended for questioning clients to yield richer conversations?

    <p>Avoiding setting expectations and getting comfortable with silence</p> Signup and view all the answers

    'Leveraging emotional intelligence' involves being attentive to which aspects during client conversations?

    <p>'Body language, facial expressions, and mood'</p> Signup and view all the answers

    What is a key consideration when selecting the meeting place for client meetings?

    <p>Selecting a convenient location for clients</p> Signup and view all the answers

    What is a crucial aspect of success for real estate agents?

    <p>Building a sphere of influence through networking</p> Signup and view all the answers

    What is the crucial aspect of maintaining a professional image for real estate success?

    <p>Appearance and face-to-face meetings</p> Signup and view all the answers

    What is the purpose of a compelling call to action in a property description?

    <p>To motivate buyers to act quickly</p> Signup and view all the answers

    What is important for understanding and empathizing with clients?

    <p>Mastering the art of listening</p> Signup and view all the answers

    What is the potential source of stress for real estate agents?

    <p>Market volatility and rapid changes in property values</p> Signup and view all the answers

    What is a potential challenge related to the real estate market and economic changes?

    <p>Property sales declining during a recession</p> Signup and view all the answers

    What is the main category that serves as the baseline for all types of real property?

    <p>Land</p> Signup and view all the answers

    What is the process of real estate development?

    <p>Purchase of raw land, rezoning, construction, and sale or lease of finished product</p> Signup and view all the answers

    What is the most common way that real estate owners finance their business?

    <p>Using leverage (debt) from lenders</p> Signup and view all the answers

    What should a seller's agent do if a lead expresses that they are renting and happy?

    <p>Show the benefits of owning versus renting</p> Signup and view all the answers

    What does 'Leasehold' mean in real estate?

    <p>Ownership of a property but not the land it's on, with a ground rent</p> Signup and view all the answers

    What is a 'Mortgage Offer' in real estate?

    <p>An offer from a bank or lender to provide a mortgage loan</p> Signup and view all the answers

    What is the American term for a 'Flat' in the UK?

    <p>Apartment</p> Signup and view all the answers

    What is important in a successful negotiation?

    <p>Both sides making concessions to reach a middle ground</p> Signup and view all the answers

    What should you focus on when the other party says 'the price is too high'?

    <p>Highlight the value you bring to the table</p> Signup and view all the answers

    What is the first step in a successful negotiation?

    <p>To do your homework before the negotiation begins</p> Signup and view all the answers

    When is it okay to walk away from a deal?

    <p>When it won't help your company or owners</p> Signup and view all the answers

    Study Notes

    • APR in real estate refers to the interest rate on a mortgage loan

    • Balance Outstanding in real estate is the remaining amount of a mortgage loan that the buyer owes to the lender

    • A Bridging Loan is used for temporary financing to bridge the gap between selling a current home and buying a new one

    • A Land Certificate is a document that proves ownership of a piece of real estate

    • Leasehold in real estate is ownership of a property but not the land it's on, with a ground rent

    • A Mortgage Deed is a legal document that details the terms of a mortgage loan

    • A Mortgage Offer is an offer from a bank or lender to provide a mortgage loan

    • Negative Equity is when a property's value is less than the outstanding mortgage

    • No Sale, No Fee is a fee structure for real estate agents where they only get paid if the property sells

    • OMV in real estate stands for Open Market Value

    • Public Liability Insurance is insurance for homeowners to cover accidents on their property

    • Repossession is the act of taking back a property from a borrower who has defaulted on their mortgage payments

    • RTB in real estate is a right for tenants to buy the property they rent at a discount

    • Shared Ownership is a way of buying a property in partnership with a housing association or local authority

    • En-suite in real estate refers to a bathroom that is accessed from a bedroom

    • The American term for a flat in the UK is an Apartment

    • For sale indicates that a property is available to be purchased

    • A Garden in the UK or a Yard in the USA is a recreational area with flowers and trees

    • The term for the person who leases a property is a Lessee

    • The French term for 'receipt confirming delivery, acknowledgment of receipt' is 'accusé de réception'

    • 'Attestation d'acquisition' is a notarial certificate of purchase

    • 'Agent immobilier' is the French term for a real estate agent or realtor

    • 'Assurance habitation' is household insurance

    • 'Architecte en chef des monuments historiques' is responsible for the protection of historical monuments

    • The French term for 'deed of sale' is 'acte de vente'

    • 'Appartement meublé' is a furnished apartment

    • 'Avant-contrat' is a preliminary agreement in the context of property

    • The French term for 'rental contract' is 'contrat de location'

    • 'Bon de visite' is a property viewing form signed by prospective buyers

    • 'Jouissance exclusive' is the right of exclusive enjoyment in real estate context.

    • Property ownership tax: B. Handover of the keys: A person can claim ownership of a property after 30 years of adverse possession, which involves occupying someone else's property without their consent but which the claimant believes they have the right to use. - Real estate 'plus-value': A. Capital gains: Refers to the profit made from the sale of a property. - French: 'power of attorney': C. procuration: A legal document that authorizes someone to act on another person's behalf.

    • Meeting with clients:

      1. Before beginning the real estate journey: Develop a trusting relationship with the client.
      2. First impression: Be well-prepared and dressed professionally.
      3. Meeting place: Choose a convenient location for clients.
      4. Greeting clients: Stand up as they arrive and give them a firm handshake.
      5. Making clients comfortable: Develop common grounds.
      6. Communication: Let clients know they can tell or ask you anything.
      7. Before first meeting: Avoid any pre-meeting communication.
      8. After a few meetings: Send a thank-you email or text.

    • Client rapport: Building rapport is important to identify clients' needs and provide information.

    • Repeating information: Repeating what the client said in your own words helps ensure a clear understanding and alignment.

    • Questioning clients:

      1. Approach: Ask open-ended questions to yield richer conversations.
      2. Avoid setting expectations: Don't offer possible answers and get comfortable with silence.

    • Mirroring client behavior: Mirroring behavior helps develop rapport and mutual understanding.

    • Conversation techniques:

      1. Leverage emotional intelligence: Be attentive to body language, facial expressions, and mood.
      2. Avoid psychological manipulation: Focus on understanding the client's needs.

    • Asking about vacations: Ask if they had a good time on vacation to develop rapport.

    • Repeating back information: During pre-initial client meetings.

    • Assertive orders: Using an assertive order instead of a question demonstrates genuine interest in the answer.

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    Description

    Test your knowledge of real estate concepts and client interaction with this quiz. Answer questions about property ownership tax, plus-value in real estate, French terms, and client relationship building.

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