SU # 59__Brokerage Policies and Procedures Flashcards
What does the law say about policy and procedure manuals?
The law requires all brokerage companies or entities that hire agents to adopt a company or office policy manual; one-person offices are exempt.
What purpose do job descriptions in a policy manual serve?
Job descriptions can help the managing broker identify what is expected of a licensee when the broker is writing the employment contract. They can also serve as an interview and selection tool and later as an evaluation tool to measure an individual’s performance.
What’s the difference between a policy statement and a procedure statement?
The policy statement reflects the broker’s attitude toward that particular item. The procedure statement is an explanation of how the managing broker wants that particular situation to be handled.
What types of information might the policy manual contain about advertising?
Who writes the ads? Who places ads? Who pays for ads? What media is authorized for use in the brokerage? Is there training on telemarketing solicitation?
If written properly, a job description can serve:
To identify similar careers.
To describe benefits and perks.
As a philosophical measurement.
As an evaluation tool
As an evaluation tool
Should a policy manual provide all the rules?
Yes, because then everyone will know them and can abide by them.
Yes, because most people usually do not follow the rules.
No, because nobody cares.
No, because even though they are written down, they are hard to follow.
Yes, because then everyone will know them and can abide by them.
The main purpose of an office manual is:
To give staff and sales associates something to read.
To outline the broker’s policies and how to deal with them.
To be your ambassador.
Help your sales associates be more effective and make more money.
To outline the broker’s policies and how to deal with them.
Should a policy manual contain a section on referral fees?
No, this should be discussed privately
No, this should only be shared in the interview meeting.
Yes, provided the MLS Board has a policy.
Yes, all licensees should be given the same information in writing.
Yes, all licensees should be given the same information in writing.
In the office policy manual:
The policy comes first, then the procedure.
The procedure comes first, then the policy.
There is no need for the policy, only for the procedures.
There is no need for the procedures, only for the policies.
The policy comes first, then the procedure.
What section shows the order and organization of the policy manual?
Table of Contents
Summary
Review
Outline
Table of Contents
What is the Statement of Purpose?
A job description
A list of affiliated team members
The brokerage mission statement
The long-term goals of the firm
The brokerage mission statement
A policy manual is a reflection of the broker’s:
Philosophy
Business plan
Mission statement
Short-term goals
Mission statement
The office policy manual can be used:
For obtaining money
For impressing investors.
As your ambassador.
For training.
For training.
The office manual should include:
Business agreements.
The firm’s commission policy.
Itemization of the managing broker’s short-term and long-term business goals.
The unique role of each individual employee.
The firm’s commission policy.
