Choose wisely. There is only one correct answer to each question.
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1.
When selling your home, a good way to find out the asking prices of similar homes is to _______.
Check out online listings of homes for sale. Home sellers typically set prices above what they'd actually like to receive for their home to leave room to negotiate, so finding out what homes are listing for is important.
2.
When putting your home up for sale, what step might you have to take if you must sell your home in an unfavorable home-buying market?
Accept a lower price. If conditions for selling your home aren't favorable, you might have to accept a lower price than you'd like to achieve the goal of selling your home.
3.
When it comes to saving money on the real estate commission, which of the following is an example of a task that a real estate agent might take on for a lower commission?
All of the above. You may have to shop around to find an agent willing to take on parts of the job of selling your home for less money, but it can be done.
4.
The traditional full-service commission rate charged by real estate agents for selling homes is _______.
5-6%. This is the rate that real estate agents have historically charged. As house prices have risen and the real estate market has become more competitive, many agents will work for a lower commission or will take on portions of the job.
5.
Your home will, in many cases, sell more quickly when home mortgage interest rates are _______.
Low. Low mortgage interest rates translate into more affordable monthly payments for home buyers, which widens the pool of potential buyers for your home and other homes on the market.