QUIZ: How financially literate are you?

REALTORS®, you know first-hand that purchasing a home can be a daunting process, especially for first-time buyers. For many, this is the single largest purchase of their lives, much of which is typically financed. Not only is there a lot of pressure to find “the perfect home,” buyers must also consider how this new purchase, and the ongoing costs of homeownership, will fit into their lives after the Agreement of Purchase and Sale is signed.

Often, the best way to ensure your buyers are satisfied with their new home is by helping them make an informed decision.

Following Financial Literacy Month, here is a quiz featuring videos describing frequently misunderstood terms and concepts relating to the home buying process. Feel free to share it with your clients to help them find out if they’re “Financially Fluent,” “Financially Informed” … or a “Financial Fiasco.” Good luck!

Be sure to check out all eight videos we’ve prepared to help identify your (and your clients’) financial knowledge on our YouTube page.

Are there any terms you get asked about by your clients that didn’t make the list? Share in the Comments below!

Our former Government Relations and Communications Advisor, Nicole Christy started with CREA as a co-op student in the spring of 2012 and, after finishing her graduate degree, became a permanent staff member. Nicole was often on the front lines, liaising with our government and private sector partners, supporting our Federal Affairs Committee, and administrating our online advocacy platform – the REALTOR® Action Network. In her spare time, Nicole likes to spend her time playing volleyball, reading, and exploring Ottawa and the surrounding area with her family and dog, Reese.

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