Humber/Ontario Real Estate Course 3 Exam Practice

What knowledge is essential for a salesperson developing a prospecting farm?

1. Deliver materials to homes listed for sale

2. Face-to-face communication makes mailing lists unnecessary

3. Understand all listings and sales within the area

4. Communicate with each owner at least twice a year

The correct answer is: Understand all listings and sales within the area

Understanding all listings and sales within the area is essential for a salesperson developing a prospecting farm because it allows them to have a thorough knowledge of the local market. This information helps the salesperson identify potential leads, understand market trends, and provide clients with valuable insights. By being well-informed about listings and sales in the area, the salesperson can position themselves as a knowledgeable and reliable resource for both buyers and sellers. Options A, B, and D are not as crucial as option C for developing a prospecting farm. Delivering materials to homes listed for sale may be part of a marketing strategy, but it is not as critical as understanding the listings and sales in the area. While face-to-face communication is important, having accurate and up-to-date information about listings and sales provides a strong foundation for effective communication. Communicating with each owner at least twice a year is beneficial for maintaining relationships with current clients, but it does not necessarily contribute directly to developing a prospecting farm.