This course will provide the learner with a guide to what it takes to run a successful real estate firm. Opening a real estate business is not a decision that should be taken lightly. A real estate salesperson understands the real estate market, how to list and sell, and how to take care of customers and clients. These skills will be invaluable in running ones own company. There will be many problems that will arise that require knowledge of the workings of the real estate market. This knowledge of the real estate market alone will not be enough to be successful in running a real estate company. Additional skills are required for and in preparation of opening day. This course will show the learner how to prepare for that day.
Upon completion of this course, the student will be able to:
- Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
- Explain three character traits of a leader
- List four qualities of a leader
- Discuss three elements of effective communication
- Give three examples of an aggressive communication style
- Determine the four types of behavior leading to Self-Talk
- Establish the difference between I-Language and You-Language
- Explore examples of three types of listening skills
- Distinguish the difference between GDP and CPI
- Explain the importance of demographics in planning
- Calculate the amount of market share for ones company
- Discuss the importance of having a business plan
- Explain the mission statements purpose
- Describe who would be involved in the values examination step of planning
- List the three business entity options available to a start-up real estate company
- Discuss the elements that are critical in the office selection process
- Describe the location preference for a residential office versus a commercial office
- Identify the necessary personnel required for most real estate offices
- Explain three advantages of buying an existing real estate office
- Describe the purpose of a policy manual
- Distinguish the difference between a General Journal and a General Ledger
- List four types of payments that must be deposited in an escrow account
- Determine the time period allowed by law that a broker has to deposit an earnest money deposit check
- Discover how long a broker must maintain his or her financial records
- Recall the four types of representation that a broker can offer
- Identify the steps involved in residential marketing
- Describe how quality control relates to real estate
- Distinguish the difference between access time and queuing time
- List two examples of initial considerations in designing a quality control program in a real estate firm
- Identify four names that are significant to quality control
- State the four operations to which the quality management system could apply
- Recall the four steps in a decision table
- List five reasons that a real estate company may want to expand
- Describe how buying a franchise gives a company name recognition
- Recall three factors that would be considered adequate supervision by a supervising broker
- Identify two advantages of buying a franchise
- State two reasons to remain an independent broker
- Analyze the difference between starting a company from scratch versus merging with another company
- Name three specific reasons to sell a company
Virginia Broker Management - Virginia Department of Professional and Occupational Regulation
End of Course Instructions
Once you have completed this continuing education course you return to your student profile page where your Certificate of Completion is available for printing. Please keep a copy of your certificate for your own records.
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