Property Values Quizz 1

Implement ‘Build-Then-Sell’ System to Protect House Buyers

• YES

• NO

How Can Property Agents Thrive In COVID-19?

• embrace this new normal and think of innovative ways to leverage digital tools to continue engaging with customers.

• upload videos for virtual viewings

• creating a positive experience and strong relationship with customers opens an avenue for prospective referral market.

• agents should focus on Geographical Target Area (GTA) with high market demand and build a strong branding in those spaces.

Reasons to Invest in Residential Real Estate

• An Enduring And Elite Address

• Where Prestige And Convenience Converge

Cost is basically.............

• the aggregate monetary value of the inputs used in the production of the goods or delivery of services

• Cost is the amount incurred in producing and maintaining the product.

• Cost is the amount paid for acquiring any product or service.

• Cost is ascertained from the consumer's perspective.

Definition of Price...............................

• Price is the consideration given in return for acquiring a good or service.

• The price can be defined as the total amount spent on the inputs like land, labour, capital, machinery, material, etc. with an aim of producing the product or supplying the services.

• Price can be described as the benefit derived by the customer from the product or service.

• In a commercial transaction, price refers to the amount charged by the seller from the buyer, in exchange for any product or service, which includes cost and profit.

Characteristics of Value.............

• Immeasurable in nature, because the value of the product is different for different persons.

• Value varies from time to time.

• Value of a product or service greatly depends on the supply of the product and the demand among the buyers.

• It can be anything that adds to the expense of a product or service manufactured or supplied by the firm.

Price Vs Cost Vs Value

• YES

• NO

If you purchase a brand new car, then the amount you pay to the car seller for its acquisition is its ........... while the amount invested in manufacturing the car is its .....................

• Price

  Cost

• Price

  Value

• Market

  Cost

• Price

  Market

If you are a watch manufacturer and produce millions of watch on a daily basis, then the ............... of production is your prior concern and not the ................. of the product. You may try to achieve economies of scale i.e. mass production at less ............... Whereas from the customer’s perspective, the purpose for which the watch is purchased must be fulfilled, which determines its ...............

• value

  value

  cost

  value

• cost

  cost

  cost

  value

• cost

  value

  cost

  cost

• cost

  value

  cost

  value

Valuing real estate is difficult since each property has unique features such as _____________________________________

• location

• lot size

• floor plan

• amenities