Course 1, Module 2, Lesson 3 Flashcards
What are THREE things that set a Broker of Record apart from a Branch Manager, Broker or Salesperson?
- The Broker of Record is responsible for maintaining REBBA standards at all times
- The Broker of Record is responsible for signing any financial sheets as required by RECO
- The Broker of Record has the power to hire Branch Managers
How often is a Broker of Record obligated to sign off on trade record sheets?
Monthly
When does a branch (when multiple offices exist) need a Manager?
When there are 2 or more registrants at the branch.
The manager must also have 2 or more years of experience
Within the sequenced list of activities of a salesperson when working with a seller. fill in the blank
- Inspect property and make notes on important aspects
- __________
- Establish price with seller
Conduct comparative market analysis to determine selling price range
Within the sequenced list of activities of a salesperson when working with a seller. fill in the blank
- Design and suggest marketing strategy (ie: open house, advertising, social medial, mls etc)
- Provide recommendations to prepare (decluttering, repairs, depersonalization)
- ________
Provide list of third party experts (contractors, stagers, inspectors)
Within the sequenced list of activities of a salesperson when working with a seller. fill in the blanks
- Implement marketing plan
- coordinate showing appts
- _____
- _____
- present offers to sellers
10. Negotiate satisfactory purchase and sales agreement on behalf of the seller
Within the sequenced list of activities of a salesperson when working with a seller. fill in the blanks
- Provide assistance to satisfy any conditions
- _____
- Assist seller’s lawyer when necessary to prep for closing
- Provide after-sale assistance as necessary
- Provide guidance and info on moving, transferring utility accounts etc.
Within the sequenced list of activities of a salesperson when working with a buyer. fill in the blanks
- Determine wants and needs
- Ensure financial approval to buy property and has budget
- _____
- _____
- Select suitable properties and arrange showings
4. (once property is narrowed) Prepare comparative market analysis tp get estimate of values
Within the sequenced list of activities of a salesperson when working with a buyer. fill in the blanks
- identify all material facts associated with the property and disclose with buyer
- ____
- ____
- Prepare offer with necessary agreements
7. Present and negotiate with seller’s salesperson
Within the sequenced list of activities of a salesperson when working with a buyer. fill in the blanks
- If offer is accepted, assist buyer with satisfying conditions (ie: home inspections etc.)
- Recommend third party professionals where appropriate (ie home inspector/mortgage broker)
- ____
- When any conditions are satisfied, prepare and execute appropriate notices
Within the sequenced list of activities of a salesperson when working with a buyer. fill in the blank
- assist buyer’s lawyers as necessary
- _____
- Provide after-sale follow-up
