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Test Your Knowledge: Today’s Real Estate Market

Buy or sell a home with confidence

(Paid Content)

6 Questions

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Today’s real estate market is baffling for buyers, sellers, and even economists. Depending on who you ask, it’s either a great year for real estate or the complete opposite. And the answer seems to change day by day. Consider this – home sales have declined across the country compared to a year ago. But according to the National Association of REALTORS® (NAR), that trend is being reversed, with existing home sales surging in recent weeks.¹

Can a real estate agent help you navigate your way through it? Take this quiz to find out.

Test Your Knowledge: Today’s Real Estate Market

[ {
  "question" : "For Buyers: A volatile economy with high inflation, ongoing fears of a recession, and mortgage rates in a state of flux means now is not a good time to buy or sell a home.",
  "answers" : [ {
    "answer" : "True",
    "correctAnswer" : false
  }, {
    "answer" : "False",
    "correctAnswer" : true
  } ],
  "multiSelect" : false,
  "explanation" : "The real estate market has changed over the past year, but it’s much easier to navigate with a qualified real estate agent who can answer your questions.",
  "hint" : "",
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}, {
  "question" : "For Buyers: Using the real estate tool known as “comps” (comparables), your agent will help you understand how the price of a home you’re interested in compares to similar properties in the area – and why this matters.",
  "answers" : [ {
    "answer" : "True",
    "correctAnswer" : true
  }, {
    "answer" : "False",
    "correctAnswer" : false
  } ],
  "multiSelect" : false,
  "explanation" : "The real estate buying market is currently very competitive. An experienced real estate agent can give you access to all active listings, and help you understand how the price of a home you’re interested in compares to similar properties in the area.",
  "hint" : "",
  "hintLink" : "",
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}, {
  "question" : "For Buyers: Even after a contract is signed, issues may come up, like the need for costly repairs revealed by the property inspection. But at this point, there is nothing that can be done.",
  "answers" : [ {
    "answer" : "True",
    "correctAnswer" : false
  }, {
    "answer" : "False",
    "correctAnswer" : true
  } ],
  "multiSelect" : false,
  "explanation" : "A real estate agent can help you deal with last-minute snags that may occur after a signed contract. They can refer qualified inspectors, appraisers, movers, contractors, and more.",
  "hint" : "",
  "hintLink" : "",
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}, {
  "question" : "For Sellers: A professional real estate agent has the contacts and the marketing savvy to make sure your home gets wide exposure to the right group of prospective buyers.",
  "answers" : [ {
    "answer" : "True",
    "correctAnswer" : true
  }, {
    "answer" : "False",
    "correctAnswer" : false
  } ],
  "multiSelect" : false,
  "explanation" : "Selling your home will be easier with a real estate agent. Your agent will save you time and energy by showing your home to prospective buyers, while pre-screening others who aren’t a good fit.",
  "hint" : "",
  "hintLink" : "",
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}, {
  "question" : "For Sellers: A real estate agent has the experience, training, and knowledge of today’s tricky market to help you set the right price for your home based on current conditions.",
  "answers" : [ {
    "answer" : "True",
    "correctAnswer" : true
  }, {
    "answer" : "False",
    "correctAnswer" : false
  } ],
  "multiSelect" : false,
  "explanation" : "Selling a home is an emotional process. A professional real estate agent uses their skills to negotiate for you and knows the finer points of drawing up a contract for the purchase deal.",
  "hint" : "",
  "hintLink" : "",
  "questionImgCaption" : "",
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}, {
  "question" : "For Sellers: A contract is the final step in selling your home.",
  "answers" : [ {
    "answer" : "True",
    "correctAnswer" : false
  }, {
    "answer" : "False",
    "correctAnswer" : true
  } ],
  "multiSelect" : false,
  "explanation" : "A contract is not the final step in selling your home. A property inspection, appraisal, and title transfer are all additional steps that follow a signed contract. Your real estate agent will continue working on your behalf throughout the whole process.",
  "hint" : "",
  "hintLink" : "",
  "questionImgCaption" : "",
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} ]

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Test Your Knowledge: Today’s Real Estate Market

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Ready to move forward with buying or selling a home? Take advantage of AARP Real Estate Benefits from Anywhere and dive in with confidence by enlisting the help of a professional real estate agent through the Anywhere network, including Better Homes and Gardens® Real Estate, Century 21®, Coldwell Banker®, Corcoran®, and ERA®. It’s free to sign up, there are no hidden fees, and you can earn $300 to $7,200 after closing on a home with a participating real estate agent.

Click here to calculate the cash benefit you could receive when selling or buying a home using your AARP® Real Estate Benefits from Anywhere^TM.

^{1 https://www.nar.realtor/newsroom/existing-home-sales-surged-14-5-in-february-ending-12-month-streak-of-declines}

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Test Your Knowledge: Today’s Real Estate Market

Test Your Knowledge: Today’s Real Estate Market

Test Your Knowledge: Today’s Real Estate Market

Click here to calculate the cash benefit you could receive when selling or buying a home using your AARP® Real Estate Benefits from AnywhereTM.

Click here to calculate the cash benefit you could receive when selling or buying a home using your AARP® Real Estate Benefits from Anywhere^TM.