TEXAS SAE Real Estate Brokerage NOTES ready to study

TEXAS SAE Real Estate Brokerage NOTES ready to study BROKER OWNER RESPONSIBLITIES - correct answer 1. Responsible for every liscnesee holder in the brokerage (supervisory) 2. Training/education 3. License maintenance 4. Make sure they don't violate laws (legal) 5. Profitability of the company (fiscal). BROKER OWNER REWARDS - correct answer 1. % of commissions 2. Ownership control 3. Training of licensees 4. Equity Interest THREE TYPES OF BROKER OWNERS - correct answer 1. Active brokers who also manage 2. Managing brokers only 3. Hire a managing broker The projected job growth rate percentage for real estate brokers, and licensees in general, over the next several years is ____________ PERCENT - correct answer 7% Job growth for real estate licensees is predicted to increase by _________ percent between 2016 and 2026, which is about the average for most careers. - correct answer 6% PREDICTIONS FOR - correct answer 1. Freddie Mac: A slight (0.5%) leveling off of home prices followed by a rise in late 2021 2. Zillow: House price drop in late 2020, followed by a slow recovery by late summer 2021 3. Zillow: 50-60% decline in home sales from pre-coronavirus levels in 2020, returning to baseline by the end of 2021 4. National Association of REALTORS®: Housing prices are becoming even less affordable horizontal expansion - correct answer The growth of your business through existing or similar services and methods, or through adding services to an existing clientele. The three primary ty