Brokerages - Study guides, Class notes & Summaries

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 residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors. Virtual Reality (VR) - A computer-generated image or environment that can be inter...

CAIB 4 Chapter 2- Study Guide Questions with Complete Solutions Organizing involves determining the way the brokerage's activities will be divided into manageable units. Identify 3 elements to organizing effectively. 1. Creating an Organizational Structure 2. Defining employee relationships 3.Establishing Position Descriptions Identify 3 basic forms of organizational structure based on the way authority and responsibility is delegated. 1. Line Organization- best suited for smaller b...

What 4 things must be specified on both representation and customer service agreements? - Answer-- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the brokerage will provide under the agreement If the term of a representation or customer service agree...

Real Estate Brokerage Question and answers verified to pass 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. Facebook Live Video streaming through facebook. CoStar Database Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors. Virtual Realit...

CAIB 4, chapter 9 Exam Questions and Answers 100% Pass Define "profit maximization" - Answer- Brokerages strive to build profits, therefore the more profit the better What are leading the causes that distract from profit maximization - Answer- Brokerages are often distracted from implementing strategies to maximize profits because of the day to day practicalities of running brokerages. These are: fulfilling clients needs, info requests and insurer obligations. Explain how multiple of c...

Identify 3 elements to organizing effectively: 1. Creating an organizational structure. 2. Defining employee relationships. 3. Establishing position descriptions. Identify 3 basic forms of organizational structure based on the way authority and responsibility is delegated. 1. Line organization 2. Functional organization 3. Line and staff organization Identify which type of brokerage is best suited for a line organization and briefly explain why this is so. Smaller brokerages in which sen...

RECA Unit 1 Quiz Latest Update Graded A+ Which of the following represents an accountability mechanism that RECA must comply with under the Act? A) RECA must prepare for the Minister of Service Alberta an annual report for the previous year end B) RECA must prepare for the Minister of Service Alberta an annual consumer report on the investigations conducted C) RECA must prepare for the Minister of Service Alberta a market report on the industries it regulates D) RECA must prepare...

What are the similarities between a strategic plan and an action plan? - correct answer They are both critical steps in the success of a brokerage They both flow from the mission statement They both use the same process (top down/bottom up) What are the differences between a strategic plan and an action plan? - correct answer strategic plans are for three to five years; action plans are for one year strategic plans apply to the brokerage as a whole; action plans apply to a partic...

CAIB 4 Chapter 8 Exam Questions and Answers 100% Pass Technology development has had a major impact on the insurance industry. It has completely transformed the way information is recorded and transmitted between the parties involved in insurance transactions. Identify five functions that the effective utilization of technology will allow brokers to realize. - Answer- 1. Improve client service levels 2. Store information safely and convenietly 3. Reduce operating costs 4. Handle large v...

What does REBBA stand for? : Real Estate and Business Brokers Act Whose role is it to enforce REBBA? : RECO Purpose of REBBA? : provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transactions is upheld. What Ontario government body is responsible for REBBA? : The Ministry of Government and Consumer Services is 'responsible' for REBBA, but it's RECO's role to interpret, enforce and suggest cha...