Humber/Ontario Real Estate Course 3 Exam Practice

What describes the Benjamin Franklin technique in real estate?

1. Used primarily for meeting new prospects in a farming area.

2. Involves listing pluses and minuses from the buyer's perspective for a decision.

3. Effective when showing properties to prospective buyers.

4. The process of highlighting the benefits of home ownership.

5. Method for scheduling property showings efficiently.

6. Technique for calculating property value for investment purposes.

The correct answer is: Effective when showing properties to prospective buyers.

The Benjamin Franklin technique is a decision-making strategy that involves listing out the pros and cons of a specific choice to help guide an individual's decision. While it can be applicable in various contexts, in real estate, it is particularly effective when showing properties to prospective buyers. This technique allows buyers to systematically evaluate the features and shortcomings of a property, helping them to weigh their feelings about the home against the tangible benefits and drawbacks before making a purchase decision. Understanding this technique can assist real estate agents in facilitating thoughtful discussions with clients, ensuring that all factors are considered rather than relying solely on emotional responses. By applying this method, agents can guide clients to a more informed and reflective approach to choosing a property that fits their needs and desires. This ultimately supports a more satisfying transaction for both the buyer and the agent.