Module Five Quiz:

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Question 1 of 6

1. Question
What question(s) should you ask a new buyer on your initial consultation call (after asking about preapproval)?
- 1. Do you want the property to generate cash flow or does it just need to pay for itself?
- 2. What kind of school zone is important to you?
- 3. Do you have a market preference?
- 4. Both A & C
Question 2 of 6

2. Question
What absolutely needs to be included in the sales and purchase contract on an existing vacation rental?
- 1. The average nightly rate that the home is currently producing
- 2. A detailed summary of the transferrable bookings and income
- 3. Who will be managing the property if not already under management
- 4. None of the above
Question 3 of 6

3. Question
What is something unique that you can use as a negotiation tool when trying o secure your buyer a vacation rental in a competitive market?
- 1. Shorter inspection period
- 2. Quick closing
- 3. Allowing the owner one final stay at the property during a slow season
- 4. Offering to pay for some of the seller’s closing expenses
Question 4 of 6

4. Question
What is something that if you write it in the contract could cause issues with the client’s loan in the underwriting department and cause it to get pushed back?
- 1. Furniture
- 2. Bookings
- 3. Advance deposits
- 4. All of the above
Question 5 of 6

5. Question
Why is it critical to thoroughly plan as many showings as possibly if your client is flying in to look at properties for a short period of time?
- 1. Because the properties are booked so often that they need advance notice to get into and short notice might not work out
- 2. Because the client is spending money and time and investing in their buying trip and you want to deliver them a top notch experience
- 3. Because they will probably be ready to write a contract when they’re there if they find the right property
- 4. All of the above
Question 6 of 6

6. Question
What should you NEVER do when trying to sell a vacation rental to an investor?
- 1. Promise any amount of guaranteed income or rates
- 2. Pay for their portion of the closing expenses
- 3. Accept a referral fee from a management company for recommending them
- 4. Pay for their flights down
- All of the above

Module 5: The Buyer’s Agent

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