Real Estate Brokerage

by Cyr, John E.; Sobeck, Joan M.; McAdams, Laurel D.

• ISBN13: 9780793131556
• ISBN10: 0793131553
• Format: Paperback
• Copyright: 1999-05-01
• Publisher: Real Estate Education Co

Summary

With its emphasis on the nuts-and-bolts of starting and operating a broker brokerage, this new edition supplies all the information agents and brokers need, includes checklists, forms and step-by-step explanations that guide the reader through must-know topics.

Table of Contents

Preface	xiii
The Challenge of Change	1	(17)
Changing Models	3	(1)
Changing Companies	4	(2)
Changing Technology	6	(2)
Changing Operations	8	(4)
Staffing	9	(1)
Supervising	10	(1)
Enhancing Revenue	11	(1)
Changing Your Role	12	(5)
Management or Sales?	15	(2)
Conclusion	17	(1)
Discussion Exercises	17	(1)
UNIT ONE---PLANNING THE ORGANIZATION	18	(60)
Analyzing the Business Climate	21	(14)
Economic Factors	22	(3)
Gross Domestic Product	22	(1)
Inflationary Cycles	23	(1)
Consumer Confidence	24	(1)
Political Factors	25	(4)
Economic Growth and Development	26	(1)
Environment Issues	27	(1)
Regulating the Industry	28	(1)
Social Factors	29	(4)
The Baby Boomer Population and Generation X	29	(1)
The Aging Population	30	(1)
The Mobile Population	30	(1)
The International Population	31	(2)
Conclusion	33	(1)
Discussion Exercises	33	(2)
Analyzing the Market	35	(24)
Analyzing Opportunities	36	(16)
Geographic Markets	37	(6)
Service Markets	43	(2)
Agency Services	45	(4)
Defining Your Market	49	(3)
Analyzing Your Competition	52	(4)
Market Share	52	(1)
Competitive Edge	53	(3)
Analyzing Your Organization	56	(1)
Conclusion	57	(1)
Discussion Exercises	57	(2)
Developing a Plan	59	(19)
Planning Rationale	60	(2)
Your Business Plan	62	(7)
Mission	63	(1)
Goals	64	(2)
Strategies	66	(2)
Contingency Plans	68	(1)
Reviewing Your Plan	69	(1)
Activity Planning	69	(1)
Short-Range Plan	70	(1)
Conclusion	71	(1)
Discussion Exercises	72	(1)
In Conclusion of This Unit	72	(2)
The Business, First Hand	74	(4)
UNIT TWO---Organizing the Organization	78	(148)
Structuring Your Organization	81	(28)
Legal Ownership	82	(4)
Sole Proprietorship	82	(1)
Corporations	83	(1)
S Corporation	84	(1)
General Partnership	85	(1)
Limited Partnership	85	(1)
Limited Liability Companies	86	(1)
Mode of Operation	86	(6)
Independent	86	(1)
Franchise	87	(3)
National Corporations	90	(1)
Local Affiliations	90	(1)
Controlled Business Arrangements	91	(1)
Multiple Listing Services	92	(1)
Mergers and Acquisitions	92	(5)
Evaluating a Business	94	(2)
Transition	96	(1)
Internal Structure	97	(6)
One-Person Organization	98	(1)
One-Agent to Ten-Agent Organization	98	(2)
Monolithic Organization	100	(2)
Decentralized Organizatiion	102	(1)
Chain of Command	103	(3)
Informal Organization	105	(1)
Conclusion	106	(1)
Discussion Exercises	107	(2)
Structuring Your Business Systems	109	(30)
Your Office	110	(14)
Location	110	(1)
Site	111	(1)
Size	112	(4)
Design and Decor	116	(6)
Security in the Office	122	(1)
Safety in the Office	123	(1)
Communications Systems	124	(5)
Voice Messaging	124	(2)
Facsimile Machines	126	(1)
E-mail and the Internet	127	(1)
Communicating with People Who Are Deaf	128	(1)
Communicating with People Who Are Blind	129	(1)
Multilingual Communications	129	(1)
Information Systems	129	(8)
Computerization	130	(2)
Software	132	(4)
Hardware	136	(1)
Conclusion	137	(1)
Discussion Exercises	137	(2)
Structuring Your Finances	139	(30)
Financial Resources	140	(3)
Capital Requirements	140	(1)
Obtaining a Loan	141	(2)
General Operating Budget	143	(11)
Gross Income	143	(2)
Operating Expenses	145	(7)
Net Income	152	(1)
Profit Centers	153	(1)
Variable Expense Budgets	153	(1)
Monthly Operating Budgets	154	(1)
Accounting	154	(4)
Electronic Data Management	155	(1)
License Law Requirements	155	(1)
Security Procedures	156	(2)
Compensation Management	158	(8)
Equity with the Competition	159	(3)
Internal Equity	162	(1)
Compensating Managers	163	(3)
Conclusion	166	(1)
Discussion Exercises	167	(2)
Business Policies and Procedures	169	(16)
Business Ethics	171	(5)
The Heart of Ethics	171	(2)
Code of Ethics	173	(1)
Institutionalizing Ethics	174	(2)
Policies and Procedures	176	(8)
General Business Policies	178	(1)
General Policies for All Workers	179	(1)
Procedures for Independent Contractors/Salespeople	180	(3)
Employee Personnel Policies	183	(1)
Conclusion	184	(1)
Discussion Exercises	184	(1)
Marketing and Advertising	185	(41)
Market Identity	186	(1)
What's in a Name?	186	(1)
The Company's Marketing Plan	187	(17)
Mass Media	189	(2)
Internet	191	(3)
Newsletters	194	(1)
Press Releases	194	(1)
Brochures	195	(2)
Videos	197	(1)
Telephone Directories	198	(1)
Outdoor Advertising	198	(1)
Novelties	198	(1)
Solicitation	198	(3)
News Columns	201	(1)
Letters to the Editor	201	(2)
Media Resource	203	(1)
Marketing Properties	204	(12)
Pictures	205	(1)
Advertising Copy	206	(4)
Classified Advertising	210	(1)
Multiple Listing Services	210	(1)
Brochures and Fliers	211	(1)
Open Houses	211	(5)
Yard Signs	216	(1)
Protecting Your Image	216	(2)
Managing Your Marketing	218	(1)
Conclusion	219	(1)
Discussion Exercises	220	(1)
In Conclusion of This Unit	220	(3)
The Business, First Hand	223	(3)
UNIT THREE---STAFFING AND DIRECTING	226	(116)
Recruiting, Selecting and Hiring the Staff	229	(42)
Staffing Needs	230	(9)
Staff Positions	231	(1)
Personal Assistants	232	(2)
Salespeople	234	(5)
Employment Laws	239	(3)
Equal Employment Practices	240	(2)
Recruiting Salespeople	242	(11)
Recruiting Brochures	243	(1)
Recruiting Experienced Talent	243	(2)
Recruiting Unlicensed Talent	245	(1)
Advertising	245	(1)
Career Seminars	246	(5)
Licensing Courses	251	(1)
Sponsorship	251	(1)
Trial Training Sessions	252	(1)
Scholarships	252	(1)
Direct Mail	252	(1)
Selecting Salespeople	253	(8)
Prescreening	255	(2)
Formal Interview	257	(3)
Selection	260	(1)
Hiring	261	(1)
Conclusion	262	(7)
Discussion Exercises	269	(2)
Professional Development for Your Staff	271	(36)
Orientation Programs	272	(2)
Training Programs	274	(18)
Whom to Train	275	(2)
What to Teach	277	(6)
How to Deliver Training	283	(1)
How to Conduct the Program	284	(6)
Evaluating Training	290	(1)
Reinforcing Training	291	(1)
Sales Meetings	292	(10)
Types of Meetings	293	(7)
Logistics	300	(1)
Managing the Meeting	301	(1)
Retreats	302	(1)
Personal Interaction	303	(1)
Additional Opportunities	304	(1)
Conclusion	305	(1)
Discussion Exercises	305	(2)
Coaching Your Staff	307	(35)
Managing Employees and Independent Contractors	308	(2)
Coaching Performance	310	(8)
Personal Success Plans	312	(2)
Incentives to Perform	314	(4)
Performance Reviews	318	(8)
Performance Criteria	320	(1)
Self-Evaluations	321	(1)
Performance Interviews	322	(1)
Evaluating Performance	323	(3)
Turnover	326	(1)
Problem Solving	327	(6)
Your Problem with a Salesperson	327	(3)
The Salesperson's Problem	330	(3)
Resignation and Termination	333	(4)
Resignation	333	(1)
Termination	334	(2)
Exit Interviews	336	(1)
Conclusion	337	(1)
Discussion Exercises	337	(1)
In Conclusion of This Unit	338	(2)
The Business, First Hand	340	(2)
UNIT FOUR---CONTROLLING THE ORGANIZATION	342	(88)
Monitoring Your Operations	345	(26)
Management of Information	346	(5)
Transaction Files	347	(3)
License Records	350	(1)
Personnel Records	350	(1)
Financial Records	351	(1)
Document Retention	351	(1)
Managing with Information	351	(1)
Maximizing Income	352	(8)
Quality Service Standards	353	(3)
Quality Control	356	(2)
Problem Solving	358	(2)
Minimizing Expenses	360	(6)
Telephone	360	(1)
Computers	361	(1)
Marketing and Advertising	362	(1)
Postage	363	(1)
Economies in the Office	364	(1)
Salaries and Benefits	365	(1)
Costs of Sales	366	(1)
Looking into the Future	366	(1)
Conclusion	367	(2)
Discussion Exercises	369	(2)
Managing Risk	371	(59)
Building Your Offense	372	(7)
Use Lawyers and Accountants	372	(1)
Use Enforcement Agencies	373	(1)
Your Training Programs	373	(1)
Your Policies and Procedures	374	(3)
Your Transactions	377	(1)
Your Contracts	378	(1)
Your Files	378	(1)
Prepare for Defense	379	(2)
Insurance	379	(1)
Dispute Resolution	380	(1)
Arbitration Between Brokers	381	(1)
Power of Information	381	(1)
Antitrust	382	(8)
Price Fixing	383	(2)
Group Boycotts	385	(1)
Territorial Assignments	386	(1)
Tying Agreements	387	(2)
Antitrust Procedures	389	(1)
Disclosures	390	(5)
Property Defects	393	(1)
Professional Inspections	394	(1)
Stigmatized Properties	395	(1)
Environmental Conditions	395	(8)
Asbestos	396	(1)
Lead	397	(2)
PCBs	399	(1)
Radon	399	(1)
Urea Formaldehyde	400	(1)
Underground Storage Tanks	401	(1)
Other Hazardous Conditions	402	(1)
Fair Housing Laws	403	(5)
Prohibited Practices	404	(3)
Intent and Effect	407	(1)
Fair Housing Compliance	407	(1)
Americans with Disabilities Act	408	(12)
Providing Real Estate Services	409	(3)
People First	412
Providing Real Estate Services	409	(4)
Architectural Barriers	413	(3)
Employment	416	(2)
Reasonable Accommodations	418	(2)
Tax Breaks	420	(1)
RESPA	420	(4)
Disclosure Obligations	422	(1)
Kickbacks and Unearned Fees	423	(1)
Foreign Investment in Real Property Tax Act	424	(1)
Conclusion	424	(1)
Discussion Exercises	425	(1)
In Conclusion of This Unit	425	(2)
The Business, First Hand	427	(3)
UNIT FIVE---YOUR PERSONAL GROWTH	430	(71)
Becoming a Leader	433	(16)
Understanding Yourself	434	(3)
Character of a Leader	437	(3)
Integrity	437	(1)
Trust	438	(1)
Power	439	(1)
Leadership Skills	440	(6)
Accountability and Personal Responsibility	440	(1)
Decisiveness	441	(2)
Team Building	443	(1)
Delegation	444	(2)
Social Awareness	446	(1)
Leadership Versus Management	446	(1)
Conclusion	447	(1)
Discussion Exercises	448	(1)
Developing as a Manager	449	(20)
Styles of Management	450	(5)
Dictatorial Style	450	(1)
Autocratic Style	451	(1)
Participative Style	452	(2)
Laissez-Faire Style	454	(1)
Human Behavior	455	(7)
``Confronting'' Behavior	456	(4)
A Manager's Behavior	460	(2)
Preparing to Cope	462	(3)
Stress Management	463	(1)
Time Management	464	(1)
Professional Growth	465	(2)
Education	466	(1)
Licensing Requirements	467	(1)
Conclusion	467	(1)
Discussion Exercises	467	(2)
Being a Communicator	469	(32)
Essentials of Communication	470	(5)
The Sender	471	(1)
The Receiver	472	(1)
The Atmosphere	473	(1)
The Message	474	(1)
The Response	474	(1)
Communications Breakdowns	475	(3)
Communicating Effectively	478	(11)
Nonverbal Communications	478	(3)
Oral Communications	481	(4)
Public Speaking	485	(4)
Writing Effectively	489	(7)
Capture Readers	490	(1)
Business Letters	491	(1)
Memos	492	(2)
Effective Editing	494	(2)
Conclusion	496	(1)
Discussion Exercises	496	(1)
In Conclusion of This Unit	497	(1)
The Business, First Hand	498	(3)
Appendix: Office Management Software Resources	501	(2)
Glossary	503	(22)
Bibliography	525	(4)
Index	529