Iowa Real Estate Practice Exam

Which of the following actions qualifies as specific assistance in real estate?

1. Acting as a seller's liaison during negotiations

2. Establishing a listing price range with a seller

3. Providing general market information

4. Accompanying potential buyers on property tours

The correct answer is: Establishing a listing price range with a seller

Specific assistance in real estate refers to actions that provide direct support or tailored advice to a client regarding their particular needs or circumstances in a transaction. Establishing a listing price range with a seller fits this definition because it involves analyzing the property’s unique attributes, reviewing comparable sales, and understanding the seller’s goals to set a pricing strategy that is specifically suited to that particular listing. This process showcases a targeted approach where the broker or agent uses their expertise to guide the seller in making informed decisions about the property’s value, which is a crucial element of the selling process. This kind of assistance directly influences the effectiveness of the selling strategy and is highly individualized. The other options represent actions that are either more generalized or focused on client interactions rather than specific guidance related to the property. For example, acting as a seller's liaison during negotiations involves communication but does not directly pertain to the detailed analysis needed for setting a price. Providing general market information is useful but lacks the customized approach necessary for determining a specific listing price. Accompanying potential buyers on property tours offers valuable experience but does not qualify as specific assistance since it does not involve direct advisement tailored to the seller's needs.