Real Estate Brokerage

Course Description:

The Real Estate Brokerage: A Guide to Success is directed toward anyone who is or would like to become a real estate manager, real estate broker, or real estate business owner. The principal difference among these positions is the degree of authority and ownership in the organization. This book focuses in particular on the future of brokerage education by identifying and describing emerging elements and examples of the way real estate brokerage is conducted in today’s marketplace. The book is divided into fifteen chapters, each having an introduction that explains the content of each chapter, a body that explains how to operate and manage a real estate brokerage business, and a conclusion with questions to test the reader’s comprehension and understanding.

Learning Objectives and Topics Covered

Chapter One – The Real Estate Industry

  • Recall the trends in the industry and the outlook for the future
  • Understand the different real estate brokerage regulations and laws with special emphasis on the law of agency
  • Distinguish between ethical behavior and non-ethical behavior
  • Be more informed on the concepts of ethics and how they apply to their personal life as well as their business life

Chapter Two – The Real Estate Broker/Owner

  • Identify the characteristics that make successful real estate brokers and owners
  • Determine the ability to broker through the questions given in the chapter
  • List the requirements of becoming a broker
  • Learn about the reasons why brokers fail and be able to identify ways to avoid the same mistakes.
  • Catalog the different approaches to management
  • Record the main activities of a broker

Chapter Three – The Real Estate Brokerage Office

  • Choose the best office type for a particular brokerage and the advantages/disadvantages of each
  • Distinguish the aspects of buying versus renting a business location
  • Evaluate a real estate brokerage business Recognize the best office layout for any real estate brokerage business
  • Evaluate the equipment needed in a real estate office and choose the appropriate machines

Chapter Four – Real Estate Brokerage Operations

  • Distinguish between a “burnout” and a “slump” and how to avoid both
  • Identify the many operations of a real estate brokerage company
  • Analyze the costs and the questions that should be asked before any obligation of the brokerage company

Chapter Five – Real Estate Brokerage Marketing

  • Discover ways to market a real estate brokerage business
  • Learn of the many opportunities to come in contact with possible clients and how to convert them into recruits for them
  • Design a marketing plan complete with marketing strategies, marketing budget and a marketing campaign.
  • Distinguish a well written ad from an ad that will be a waste of money

Chapter Six – Real Estate Compensation Structures

  • Evaluate compensation structures that benefit the real estate salesperson and the real estate broker
  • Distinguish between compensation structure variables and elaborate on the features
  • Know when a broker should offer a bonus or when the broker should withhold a bonus

Chapter Seven – Real Estate Brokerage Staff Relations

  • Identify the varying employment laws that affect the real estate industry and how to manage those laws
  • Know the types of managers in real estate
  • Design a “Management Development Program” and implement that program
  • Examine and compare the types of salespeople in real estate and look at the “Perfect Office”

Chapter Eight – Recruiting Real Estate Salespeople

  • Design a recruiting plan for a real estate company
  • Identify the actions a broker can take to recruit real estate salespeople
  • Conduct a recruiting interview and list the steps that interview should follow
  • Itemize the steps in the handling of objections and place those steps in the proper order
  • Practice the closing techniques and the best ones to use in any situation

Chapter Nine – Retention of Real Estate Salespeople

  • Effectively learn to retain real estate salespeople for an office
  • Create events that will help the real estate company retain their salespeople
  • Recognize the importance of training and the value a real estate salesperson places on training.

Chapter Ten – Real Estate Business Development

  • Set-up a “Relocation Mind-Set”
  • Understand how the relocation and business development business work in the real estate industry
  • Understand marketing strategies, how to write an effective real estate “Relocation Package” and the meeting of Personnel Directors
  • List the different ways to seek and find relocation business
  • Conduct a Relocation Presentation to the relocation professional

Chapter Eleven – Real Estate Business Planning

  • Create a business plan for a real estate company
  • Identify the differences between sales and marketing
  • Identify and adapt to the current real estate market
  • Design a real estate company with a wide variety of variations
  • Describe the real estate business, the current and future competition and finish with financial records and statements

Chapter Twelve –Real Estate Business Development

  • Learn about relocation and referral business
  • Describe the arrangement of a business development segment in a brokerage
  • Apply interviewing techniques and scripts to relocation and referral business

Chapter Thirteen – Starting a Real Estate Business

  • Identify the major characteristics of real estate brokers
  • List the change factors for a transition
  • Compare and contrast the similarities and differences between managers and leaders
  • Describe the development of a leader
  • Understand the complexities of operating a real estate company

Chapter Fourteen – Financing a Real Estate Business

  • Learn about the business loan process and what the lender is looking for
  • Recognize that the loan process only begins with the application
  • Find sources of alternative lenders
  • Be knowledgeable enough to obtain the financing needed to begin or expand operations as a real estate broker

Chapter Fifteen – Starting a Real Estate Business

  • Identify the major characteristics of real estate brokers
  • List the change factors for a transition
  • Compare and contrast the similarities and differences between managers and leaders
  • Describe the development of a leader
  • Understand the complexities of operating a real estate company

15 Quizzes
1 60Q Final Exam (2 exams but pass one)