Brokerages - Study guides, Class notes & Summaries

Define positioning advantage Refers to how the brokerage is perceived by clients in relation to competing brokerages. "image of the brokerage" Positioning is in relation to other brokerages operating in the same environment Image is the clients perception of the brokerage Three ways a brokerage can be positioned in relation to its competition 1. Low or high priced 2. Low or high service quality 3. Faster to settle claims Define differential advantage Refers to any feature, service, or ...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

CAIB 4 Chapter 8 Latest Version with Complete Solutions 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. 1. Improve client service levels 2. Store information safely and convenietly 3. Reduce operating costs 4. Handle large volu...

Section 11 unit 5: Antitrust Violations and Penalties Actual Exam Qs & Ans/ . Terms like: Which of these is an example of group boycotting? a. licensees don’t socialize with one another b. Two or more licensees or brokerages refuse to cooperate and split commissions with another licensee or brokerage. c. all licensees agree to follow the law d. A full-service brokerage cooperates with a limited-service brokerage firm. - Answer: b. Two or more licensees or brokerages refuse to coopera...

CAIB 4 - Chapter 2 Questions and Answers Rated A+ 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 brie...

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. Brainpower Read More 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...

CAIB 4 - Book Practice Questions and Answers Already Passed What are the similarities between a strategic plan and an action plan? 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? strategic plans are for three to five years; action plans are for one year strategic plans apply to the brokerage as a whole; act...

What does REBBA stand for? - Answer-Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - Answer-RECO Purpose of REBBA? - Answer-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? - Answer-The Ministry of Government and Consumer Services is 'responsible' for REBBA, but it's RECO's role to interpret, e...

Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)The purpose of a recovery fund is to: A. protect damaged licensees from clients who fail to pay earned commission. B. assist in the liquidity of a troubled brokerage th...

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 brokerages in which senior management personally directs the activitie...