Real Estate Brokerage A Guide to Success

ISBN-10: 0324379463
ISBN-13: 9780324379464
Edition: 2007
Authors: Dan Hamilton
List price: $74.95
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Description: Become a successful real estate broker with REAL ESTATE BROKERAGE! With a concentration on successful and innovative recruiting and retention strategies, this real estate text provides you with the tools you need to succeed. Real-life case studies,  More...

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Book details

List price: $74.95
Copyright year: 2007
Publisher: OnCourse Learning
Publication date: 7/28/2006
Binding: Paperback
Pages: 432
Size: 5.75" wide x 8.75" long x 0.75" tall
Weight: 1.298
Language: English

Become a successful real estate broker with REAL ESTATE BROKERAGE! With a concentration on successful and innovative recruiting and retention strategies, this real estate text provides you with the tools you need to succeed. Real-life case studies, group discussions, and analysis applications throughout help equip you with the skills you need to establish and manage a successful real estate brokerage.

Introduction
About the Author
The Real Estate Industry
Introduction
Brokerage History
Brokerage Outlook and Trends
Brokerage Regulations and Laws
Real Estate License Law
National Regulations
State Regulations
Local Regulations
Agency Law
License Law
Contract Law
Deceptive Trade Practices Act (DTPA)
Sherman Antitrust Act
Do Not Call, Do Not Fax, and Anti-Spam Laws
The Clayton Act
Fair Housing
The Real Estate Settlement Procedures Act
Ethics
National Association of Realtors
Code of Ethics
Responsibility of the Real Estate Brokerage
Conclusion
Chapter 1 Review Questions
The Real Estate Broker and Owner
Characteristics of Talented Brokers and Owners
Questions That You Should Ask Yourself
Why Do You Want to Become a Broker?
Do You Have the Qualities of a Real Estate Broker?
What Are the "Perks" of the Position of Broker?
What Are the Biggest "Trials" of the Position of Broker?
What Is It "Really" Like to Be a Broker?
What Is the Job Description of a Broker?
Do You Want to Get Started? When? Now, or in the Future?
Are You Willing to Pay the Price to Become the Best Real Estate Broker You Can Be?
Legal Requirements of Becoming a Real Estate Broker
Brokers Need to Lead by Example
Mentoring
Finding a Mentor
Networking
Roundtables
Why Brokers Fail
Approaches to Management
The Commander
The Peacemaker
The Collaborator
The Controller
Activities of the Broker
Company Direction
Acquisitions
Retention
Recruiting
Training
Hiring and Firing of Staff
Manager/Assistant Manager Reviews
Individual Business Development (IBD) Meetings
Day-to-Day Operations
Review Listings and Purchase Agreements
Being Available for Advice
Personal Education and Development
Office Meetings
Real Estate Office Meeting Tips
Managing New Real Estate Salespeople
Managing Experienced Real Estate Salespeople
Office Philosophy
Tracking
Conclusion
Chapter Two Review Questions
The Real Estate Brokerage Office
Office Identity
Office Types
Mom and Pop Shops
Niche Offices
Single Office with the Broker and Fewer than Five Salespeople
Single Office with the Broker and More than Five Salespeople but Fewer than Fifty Agents
Single Office with the Broker and More than Fifty Agents
Two to Five Offices Owned by One Broker and Fewer than 100 Salespeople
More than Five Offices and More than 100 Salespeople
Marketing Companies
Independent Offices
National Franchise Offices
International Franchises
Neighborhood Offices
Community Offices
City Offices
Regional Offices
Multi-State Offices
Sole Proprietorships
Partnerships
Corporations
Building Types
Stand-Alone
House
Brick-and-Mortar
Strip Center
Office Building
Buying versus Leasing
Buying
Leasing
Mergers and Acquisitions
Why Do They Want to Sell?
What Are You Actually Buying?
Is the Company Managed Properly?
Valuation of a Real Estate Company
Office Layout
Reception Area
Conference Rooms
Bathrooms
Bullpen
Semiprivate Offices
Private Offices
Computer Room
Equipment Room
Forms Room
Storage
Operational Offices
Broker's Office
Library
Break Room
Office Equipment
Signage
Facsimile Machines
Personal Computers
High-Speed Internet
Printers
Copier
Telephone Systems
Desks
Chairs
File Cabinets
Art
Library
Office Supplies
Landscaping
Conclusion
Chapter Three Review Questions
Real Estate Brokerage Operations
Operations of a Real Estate Brokerage
Day-to-Day Operations
Salespeople Operations
Monthly Operations
Yearly Operations
Conclusion
Chapter Four Review Questions
Real Estate Brokerage Marketing
Services Offered to the General Public
Residential
Commercial
Property Management
Farm and Ranch
Fine Homes and Estates
Vacation
Areas Served
Hard-Dollar Costs to the Brokerage Firm
Marketing
Company Marketing Strategies
Company Marketing Plan
Name Recognition vs. Prospect Generating
Marketing Budget
Marketing Campaign
Advertising
Writing Effective Ad Copy
Frequency
Advertising Media
Conclusion
Chapter Five Review Questions
Additional Marketing Ideas in Real Estate
Marketing My Office
Name Recognition Advertising
Name Tags/Name Badges
Home-Buyer Seminars
Home-Seller Seminars
Trade Shows
Conventions
Home Improvement Shows
Career Days/Career Fairs
Flyers
Word of Mouth
Conclusion
Chapter 6 Review Questions
Real Estate Brokerage Compensation Structures
Multiple Plans
Single Plans
Splits
One Hundred Percent
Profit Sharing
Teams
Home Office
Employee
Bonuses
Conclusion
Chapter 7 Review Questions
Real Estate Brokerage Staff Relations
Employment Law
Independent Contractor versus Employee
Manager
Management Development Program
Sources for Managers
Management Development Program Model
Salespeople
Shooting Stars
Top Producers
Middle Producers
Bottom Producers
New Salespeople
The Perfect Office
Searchers
Kennel Dogs
Prima Donnas
Nesters
Conclusion
Chapter Eight Review Questions
Recruiting Real Estate Salespeople
Introduction to Recruiting
Selecting Potential Recruits
Top Reasons Salespeople Choose a Broker
Recruit the Salespeople You Want
Recruiting Actions
The Best Source of Recruiting Leads
Telemarketing
Categories of Recruits
Not Interested-No Prospect
Not Interested Now But Maybe in Less than Two Years-Lead Prospect
Interested Soon, But Not Now-Possible Prospect
Interested Now-Grand Prospect
Telemarketing Procedure
Choose an Area You Want Salespeople from, Quickly
Call Anytime
Call the Individual
Look up Addresses and Phone Numbers in the Cross Directory
Be Professional
Set up an Interview with the Recruit
Meet the Recruit
Contact at Least Once a Month
Telemarketing Scripts
Recruiting Door-to-Door
Basics of Recruiting Door-to-Door
Agent with Other Company
Keys to Working AWOCs
AWOC Action Plan
Calling on an AWOC
AWOC "Fair Deal"
Additional Items You Could Offer
Watch for Events
Additional Ways to Improve Your Recruiting Efforts
Terminate Unproductive Salespeople
Respond When Competition Offers Your Salespeople a Great Package
Alter Current Compensation to Keep Salespeople
Respond When Competitors Send Letters to Your Salespeople
Respond When One of Your Salespeople Is Recruited
Advertising for Recruits
Attract Attention
Arouse Interest
Create Desire
Call for Action
Examples of Advertisements
Conclusion
Chapter Nine Review Questions
Recruiting Interview
Recruit Interview
Recruiting Introduction Discussion
Recruiting Interview Hints
Questioning Techniques
"Wants and Needs" Analysis
Additional Recruiting Interview Questions
Recruit Presentation Manual
Main Topics of a Recruiting Presentation
Recruiting Packet
Costs of Recruiting
Objection Handling Techniques
Objection versus Rejection
Objection versus Question
Open-Ended versus Closed-Ended Questions
Tips for Addressing Objections
Handle Objections by Asking Questions
Objection Handling Worksheets
Closing Techniques
Trial Close
The Tie-Down Close
Alternate of Choice Close
Assumptive Close
Feedback Question Close
Similar Situation Close
Reduce to the Ridiculous Close
Puppy Dog Close
Good Guy/Bad Guy Close
Take-Away Close
Appeal to the Higher Authority
If-Then
Conclusion
Chapter Ten Review Questions
Retention of Real Estate Salespeople
Introduction to Retention
Call Nights
Company Events
Training
Covering the Costs of Training
Mentoring/Teams
Office Policies and Procedures Manual
Ancillary Businesses
Conclusion
Chapter Eleven Review Questions
Real Estate Business Development
Introduction
Setting up a Relocation Mind-Set
Finding Relocation Business
Corporate Calling
Additional Ways to Find Relocation Business
Meeting with Personnel Directors and Others
A Letter of Introduction and First Contact
The First Corporate Presentation
The Proposal
Components of a Proposal
Guidelines for Writing a Proposal
Relocation Services Offered
Creating a Company Relocation Packet/Brochure
Creating a Newcomer's Packet
Land Development
Notary Functions
Property Insurance
Conclusion
Chapter Twelve Review Questions
Real Estate Business Planning
Introduction
Writing a Business Plan
Cover Page
Table of Contents
Executive Summary
Mission Statement
Vision Statement
Strategy
Continuous Improvement
Defining Your Customers
The Market
Sales and Marketing
Information About Your Business
Business Description
Operations
Service Fees
Personnel Development
Development Status
Service Process
Outsourcing Marketing
Location
Method of Sales
Advertising and Promotion
Management Description
Ownership
Board of Advisors
Competition
Financials
Risks
Financial Statement
Estimated Sales
Operating Expenses
Capital Requirements
Cost of Services
Income Statement
Cash Flow Statement
Balance Sheet
Conclusion
Chapter Thirteen Review Questions
Financing a Real Estate Business
Applying for a Business Loan
Ability to Repay
Collateral
Credit Rating
Management Experience
Equity
Detailed Business Plan
The Loan Process
Can the Business Repay the Loan?
Can You Repay the Loan if the Business Fails?
Does the Business Pay Its Bills?
Are the Owners Committed to the Business?
Does the Business Have a Profitable Operating History?
Are Sales Growing?
Does the Business Control Expenses?
Is There Any Discretionary Cash Flow?
What Is the Future of the Industry?
Who Is Your Competition, and What Are Their Strengths and Weaknesses?
Have You Filed and Paid All Income Tax Returns?
Does the Business Have the Ability to Repay a Loan?
Does Your Business Have a Positive Net Worth?
Is Your Business Carrying Too Much Debt?
Do You Have Enough of Your Own Money in the Business?
Are You Willing to Personally Guarantee a Loan?
Does Your Business Have Qualified Managers and Advisors?
Do You Have Experience in Running Your Own Business?
Preliminary Actions Before the Presentation
Calling on Lenders
At the Appointment
Alternative Sources of Loans
Partners
Friends and Family
Business Partners
Investment Group
Venture Capitalists
Conclusion
Chapter Fourteen Review Questions
Starting Up a Real Estate Business
Characteristics of Real Estate Brokers
Change Factors
Phases of Change
Leader or Manager
Development of Leadership
Starting Operations as a Real Estate Company
Conclusion
Chapter Fifteen Review Questions
Appendix
Credits
Index

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