Texas Real Estate Brokerage SAE Flashcards

Texas Real Estate Brokerage SAE Flashcards Job DescriptionThe Job description describes how a person in a given role relates and interfaces with others in the organization.Keep windows clear so passersby can see insideMake certain windows are not obstructed so that passerby can see in and notice if there is trouble in the office.Management StyleWhen discussing a merger, what would corporate cultural fit relate to?Sales ContractOffer to purchase, sales agreement, contract of purchase and sale, and purchase agreement are other names for the

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IndirectMarketing is a strategic process that impacts all departments in a firm. Its impact on sales is critical, but indirect What impact do marketing efforts have on sales?Damage to the building from the storm and melting snow could destroy Jarrod's office and records.Forecasters predict a huge spring blizzard. Jarrod's not concerned about operations because everyone could use a couple of days off, anyway. The snow will melt eventually.What long-term issues could arise that would cause more damage than Jarrod realizes?Because the plan includes both a cost for developers and the benefit of making an area more desirable, it could be weighted differently, depending on the services the real estate business offers.If a community plan requires developers to build new public spaces in urban areas as part of new construction projects, and the result is that more people want to live and work in the city, what impact would this have on a real estate business? Select the most complete answer.Line (Judy has line authority because she's directly responsible for achieving the company's financial goals.) As manager of the sales team, Judy has direct responsibility for reaching the company's financial goals.What type of authority does Judy have?ActiveDeidre owns her own brokerage firm. In addition to running the business, she continues to assist clients and manage transactions. What type of broker-owner is she?HistoricalTo gain a true view of firm's financial position, evaluate the current and previous A ______ analyses of the balance sheet and its related ratios provides the clearest picture of a firm's financial health.AcceptanceRogelio and Carla's firm identified three risk sources as high level (6 and 9 on their ranking scale). They've set themselves up for disaster by using ___ as their risk management strategy.FeelersFeelers are the people in your office who are always looking out for everyone else. This is the personality type that is perfect for heading up your community service project.If you need an employee to take charge of a commuity service project, which personality type would be your best pick for the project?Technology poses risks for everyone, but real estate licensees need to be especially careful. Which of the following is true about risks related to computer systems?Estoppel

Which of the following has the legal effect of preventing a person from making a claim based on her prior behavior or statements?Building codes and standards Is she interested in promotion?Before spending time to evaluate Harriet's skills related to promotion, managers should find out if Harriet is even interested in being promoted.Harriet is a hard worker. Of all of the unlicensed staff, she receives the most consistently positive evaluations from her boss. She's the face of the firm, greeting walk-in and telephone clients with a friendly, efficient manner. She knows exactly where to find anything and any information she and her colleagues need. What's the first question managers should ask when determining if Harriet is suitable for promotion?DictatorialThey're effective in crises and when an employee or a group needs brought into line.Coercive and ____ management styles are similar in their demand for action.Lost productivityBroker Tiffany does her best to make her licensees satisfied they've affiliated with her, in part because replacing them costs her brokerage in time, expense, and _____ SuperviseIndependent contractors are to be supervised, not managed or directed.A broker must ______ independent contractors.Talk to them each individually to clarify the situation.You're a broker, and lately you've noticed that three of your licensees seem to be constantly sniping at each other. It's affecting everyone at the brokerage. What should you do?How is organic growth defined?Diversity A general business objective is designed to expand on which of the following?The agreement between the two firms The number of licensees to useWhich of the following is one of the key decisions a brokerage makes when deciding how to staff the sales force?If a developer wishes to make FHA loans available to future buyers, what must she keep in mind when working on a development To form a larger company that is more competitive Tactical planningTactical planning is the most granular level of planning. Once the long-range plan has been broken down into smaller tasks, the management and staff are responsible for carrying out the tactics.Which of the following business planning activities breaks the long-range plan down into smaller tasks and identifies which segment(s) of the company are responsible for doing what?Federal Trade Commission ActThe Federal Trade Commission Act created the FTC. This agency investigates practices and will stop companies and individuals from committing antitrust violations.Which act created an agency to investigate antitrust practices?CorporationJorge works at a firm where elected officers govern the affairs of the organization, while a licensed broker, Shonda, is directly responsible for the real estate transactions. The officers and Shonda are responsible to a large number of stockholders. What type of legal structure is this?

Which of the following is a good cash management technique?There should be consequences for violating the firm's code of ethics, and these consequences should be communicated and documented.As more staff is hired, she will spend more time managing sales staff.Broker Donna plans to hire three licensees to begin growing her business from a one-agent to a four-agent firm.What tip would you offer Donna regarding the impact of growth on her as the broker-owner?Purpose of businessWhat's the most important determining factor for the type of office the brokerage needs and the systems required?No. However, in some situations, Tanner's attempts at training and enforcement may help lessen sanctions against him.Though technically Tanner is responsible, if he can prove that the firm has policies and procedures in place and that he provides training and coaching to licensees, he may receive less blame than he might otherwise.As the supervising broker, tanner makes sure that the firm's policies and procedures manual is updated regularly and is enforced. He provides formal and informal training on the manual's contents. Does this relieve Tanner of vicarious liability if a licensee performs an unethical act?Attorney GeneralThe attorney general may bring federal antitrust suits on behalf of individuals who live within the state, through the legal concept of parens patriae, or on behalf of the state as a purchaser.Which entity has the authority to represent the state and citizens of the state in antitrust cases?Quack-a-Doodle-Doo RealtyWhich of the following business names would be the most likely outcome of a merger between Duck Realty and Rooster Realty It helps to ensure that well-trained talent is available in the event that a critical position becomes vacant.Succession planning not only ensures that a solid pipeline of qualified individuals is ready to move into critical positions, but it also motivates staff to perform at a high level in order to e considered for promotion.Loronda is working on her business plan in preparation for opening her own brokerage. Why should she consider including succession planning in her plan?PerformanceRust Brokerage is run as a lean machine and requires its employees to be both productive and cost-efficient. It pays employees on a scale that relates their worth to how much their work has contributed to overall revenue. This reflects a(n) ______ compensation philosophy.The policies and procedures manualWhich of the following is one of a firm's best defenses against damage to its image Which of the following is a good reason to merge with or acquire another company?Average days on market Making a plan and implementing it is essential to the future success of an organization.Broker Millie wants to start her own brokerage. The market is hot right now, and she wants to get her brokerage up and running ASAP. Once things slow down a little, she'll figure out a business plan and other details. Which of the following is true of this situation?It covers licensees sued by consumers for inadvertent mistakes.Which of the following is true about errors and omissions insurance

Which of these describes a decentralized management system?The company's mission statement A broker is training all affiliated licensees on a recent change in fair housing laws. Why should she deliver the training to new licensees separately from experienced salespeople?Jane will need to fill out a W-9 for IRS reporting purposes.ValuesLeaders communicate and live by their ______.You're a broker who sees a potential issue with your licensee, Joss. You've identified the problem behavior and analyzed the problem. What is the next step in the problem-solving process for personnel issues?To detail all costs Jennings will owe at closing The Occupational Safety and Health ActThe Occupational Safety and Health Act primarily addresses the rights of employees, not independent contractors. The self-employed aren't covered under OSHA.Which of the following establishes requirements for employers to provide a safe and healthy workplace for their employees?Triple Net leaseWith a gross lease, the landlord typically pays these expenses. With a triple net lease, the tenant pays all three. To help you remember this, the first letter in the three expenses (taxes, insurance, and maintenance) spell out TIM.With this type of commercial lease, the tenant typically pays the taxes, insurance, and maintenance expenses.Suggest that her client contact a roofing expert to make a determination.Samantha is a real estate licensee. She's showing her client a property. The client asks about some spots on the ceiling and wonders if they're an indication of a roof leak.What should Samantha do?Vicarious liabilityWhat legal concept relates to a broker's responsibility for licensee misconduct?The strengths, weaknesses, opportunities, and threats facing a business What is a SWOT analysis useful for determining?Review, plan, and forecast proactivelyHow may a broker effectively manage the firm's cash flow and expenses?VideoA video allows learners to see the physical details of the appraiser's inspections without requiring each individual to be present tat the property being appraised.A broker wants his associates to know how an appraiser performs a physical inspection of a property so they'll e more familiar with the information they see in an appraisal report. Which of the following delivery options would make this training mot effective for his associates?The cash flow statementThe cash flow statement helps match income to expenses for any given month, indicating whether additional cash will be needed.Which of the following itemizes income to expenses for given month?TRUEThe ADA doesn't apply to residential housing.Instead, it applies to public places such as stores, restaurants, and office buildings.Is this true, false or something else? "With respect to persons with disabilities, the Fair Housing Act regulates housing-related issues, and the Americans with Disabilities Act regulates issues related to public spaces. " Using a system to reduce the risk's likelihood or severityRisk mitigation means ______ Internal equitycompensation plans should be fair from both an external and internal perspective. Internal equity means