Day 1.1-An Introduction to the Real Estate Industry

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Questions and Answers

Which of the following tasks are typically handled by real estate assistants?

  • Managing social media accounts (correct)
  • Obtaining a real estate license
  • Providing office space
  • Negotiating property prices

What is the role of the National Association of Realtors (NAR) in the real estate industry?

  • They provide training for real estate agents
  • They manage multiple listing services
  • They enforce licensing requirements (correct)
  • They offer office space for realtors

What is the requirement for using the term 'Realtor'?

  • Being a member of NAR (correct)
  • Being a managing broker
  • Being a licensed real estate agent
  • Being employed by a real estate brokerage

What do realtors typically share with their real estate brokerages?

<p>Their earned commission (A)</p> Signup and view all the answers

What is the role of a managing broker in a real estate office?

<p>Overseeing the real estate office (A)</p> Signup and view all the answers

What are the qualities that real estate assistants need for success?

<p>Organizational skills and determination (B)</p> Signup and view all the answers

Which of the following is a responsibility of a realtor in residential real estate?

<p>Overseeing financial and legal matters (A)</p> Signup and view all the answers

Which of the following is NOT a desirable quality of a virtual real estate assistant?

<p>Technical proficiency (B)</p> Signup and view all the answers

Which of the following is a responsibility of a virtual real estate assistant?

<p>Coordinating property viewings (D)</p> Signup and view all the answers

What is the role of a higher-level broker in the real estate industry?

<p>Overseeing financial and legal matters (A)</p> Signup and view all the answers

What is a virtual real estate assistant responsible for in terms of marketing?

<p>Creating marketing materials (C)</p> Signup and view all the answers

What are some essential skills for virtual real estate assistants?

<p>All of the above (D)</p> Signup and view all the answers

Which of the following tasks is NOT typically performed by a virtual real estate admin assistant?

<p>Explaining documentation to clients (B)</p> Signup and view all the answers

What is one of the key responsibilities of a virtual real estate admin assistant?

<p>Maintaining client communication (A)</p> Signup and view all the answers

Which task involves managing the paperwork and deadlines associated with home loans?

<p>Loan coordination (A)</p> Signup and view all the answers

What is one task that unlicensed virtual real estate admin assistants are not allowed to perform?

<p>Showing properties to clients (C)</p> Signup and view all the answers

What is one of the key responsibilities of a virtual real estate admin assistant in terms of client information?

<p>Maintaining detailed client records (B)</p> Signup and view all the answers

What is one task that virtual real estate admin assistants are responsible for in terms of document preparation?

<p>Preparing various documents (A)</p> Signup and view all the answers

What is one task that virtual real estate admin assistants are responsible for in terms of open houses and showings?

<p>Coordinating open houses and showings (B)</p> Signup and view all the answers

What is one task that virtual real estate admin assistants are responsible for in terms of calendar management?

<p>Managing the agent's daily agenda (D)</p> Signup and view all the answers

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