BG1 ALT 3 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 (C)</p> Signup and view all the answers

What is the cost for the initial issuance of a professional real estate agent card in France?

<p>€130 (C)</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 (D)</p> Signup and view all the answers

What is the maximum validity of a mandate for real estate transactions in France?

<p>12 months (B)</p> Signup and view all the answers

How many hours of mandatory continuing education does a real estate agent in France require over 3 consecutive years?

<p>50 hours (A)</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 (D)</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 (D)</p> Signup and view all the answers

What does APR stand for in real estate?

<p>Annual Percentage Rate (C)</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 (D)</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 (C)</p> Signup and view all the answers

What does OMV stand for in real estate?

<p>Open Market Value (A)</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 (B)</p> Signup and view all the answers

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

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

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

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

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

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

'Appartement meublé' refers to what type of apartment?

<p>'Furnished apartment' (B)</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' (C)</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 (B)</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 (C)</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 (A)</p> Signup and view all the answers

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

<p>Asking open-ended questions (C)</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 (C)</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 (D)</p> Signup and view all the answers

Why is mirroring client behavior considered helpful in developing rapport?

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

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

<p>Permis de construire (B)</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 (D)</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 (C)</p> Signup and view all the answers

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

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

What does 'emménager' mean in real estate context?

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

What is an 'expert immobilier' in real estate?

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

'Terrain à bâtir' is the term for:

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

'Unilateral agreement to sell' is called:

<p>'Promesse unilatérale de vente' (A)</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 (A)</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 (D)</p> Signup and view all the answers

'Notarial certificate of purchase' is called:

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

'Huissier (de justice)' is responsible for:

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

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

<p>Legal consultations (C)</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 (A)</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 (C)</p> Signup and view all the answers

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

<p>Salary and commission (D)</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 (A)</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 (D)</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 (A)</p> Signup and view all the answers

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

<p>Capital gains (A)</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 (B)</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' (B)</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 (B)</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 (A)</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 (C)</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 (B)</p> Signup and view all the answers

What is important for understanding and empathizing with clients?

<p>Mastering the art of listening (B)</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 (B)</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 (B)</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 (D)</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 (C)</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 (C)</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 (A)</p> Signup and view all the answers

What are real estate agents not authorized to provide to clients?

<p>Financial investment advice (D)</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 (C)</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 (A)</p> Signup and view all the answers

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

<p>Apartment (C)</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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