Real Estate Brokerage SAE - Champion's School of Real Estate| 291 questions and answers
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Champion School Of Real Estate
Search Engine Optimization (SEO)
The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine.
Fcebook Live
Video streaming through facebook.
CoStar Database
Functions much like a re...
Real Estate Brokerage SAE - Champion's School of Real Estate 291 questions and answers
Search Engine Optimization (SEO) - answer The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine.
Fcebook Live - answer Video streaming through facebook.
CoStar Database - answer Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors.
Virtual Reality (VR) - answer A computer-generated image or environment that can be interacted with by using special electronic equipment
Augmented Reality (AR) - answer Provides a modified view of reality for the user
Artificial Intelligence (AI) - answer A way of describing intelligence exhibited by machines
Google Analytics - answer A powerful analytic software
MLS Systems - answer The gold standard in data collection, processing, and dissemination in the
real estate industry for years.
Millennial Generation - answer People reaching young adulthood in the early part of the 21st century
What does a consumer want from their brokerage? - answer - hyper-personalization - high online ratings
- high level customer service
- marketing that creates interest
- give back to community
- deeper relationship with agent
Mission Statement - answer Announces to the world what the company's long-term goals are, describing the overall purpose of the organization.
Value Statement - answer Define how a company's work will be accomplished, articulating a set of beliefs and principles that guide the way the company conducts business.
Action Plan - answer Outlines the steps, approaches and resources that will be used to fulfill the
objectives of the company.
Operational Planning - answer The aspect of planning that encompasses the day-to-day operations of a company.
Due diligence - answer Analyzing, exploring, investigating and evaluating a business to learn about the business, in order to position themselves to make an educated decision about whether to buy or not buy a business.
DBA - answer Doing Business As An assumed name or a trade name used instead of the legal name of a business entity.
FBN - answer Fictitious Business Name An assumed name or a trade name used instead of the legal name of a business entity.
Assumed name - answer A trade name used instead of the legal name of a business entity. Trade name - answer An assumed name used instead of the legal name of a business entity.
Sole Proprietorship - answer A venture owned by one individual.
Partnership - answer A type of business entity that has partners
General partner - answer Responsible for the day to day operations of the business and has full liability
limited partnership - answer A type of partnership created in Texas by filing a certificate of limited partnership with the Texas Secretary of State
Limited partner - answer A business partner whose liability is limited to the amount invested in the partnership, having no involvement in the day-to-day operations of the business.
limited liability partnership - answer Formed by filling a statement with the Texas Secretary of State. a partner is not individually liable for the debts and obligations of the partnership, nor is the partner liable for tortious acts committed by other partners.
joint venture - answer A group of individuals joining together for a single business venture, combining their funds and talents to carry out one project. When the project or venture is complete, they will dissolve as a group.
syndicate - answer Two or more parties join together to create and operate a real estate investment
corporation - answer estate investment
Corporation
Corporations in Texas are created by filing with the office of the Secretary of State. The corporate entity is comprised of three components: - Shareholders (stockholders) who are the owners of the corporation
- A Board of Directors elected by the shareholders who represent the interests of the shareholders
- Corporate Officers who are responsible for the overall management of the operation of the business
shareholders - answer The owners of the corporation.
board of directors - answer Elected by the shareholders who represent the interests of the shareholders
corporate officers - answer Corporate officers are responsible for the overall management of the
operation of the business.
limited liability company - answer Formed by filing articles of organization with the Texas Secretary of State and is governed by the Texas Limited Liability Company Act. The limited liability company offers limited liability protection.
franchise - answer An authorization given by a company to an individual enabling the individual to carry out specific commercial activities as an agent for the company's products.
T or F: A limited partner is involved in the day-to-day of the business - answer False
A partnership may be created by: - answer filing documents with the Secretary of State
The three main categories that sould be addressed during the planning phases are: operational planning, _______, and time planning. - answer budget
How much cash reserves do industry experts recommend new brokerages have available for operating expenses? - answer 6 months to 2 years
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