Real Estate Brokerage SAE Flashcards

Search Engine Optimization (SEO)

• Maximizes website visitors by improving its search engine ranking.

Facebook Live

• Video streaming service offered through Facebook.

CoStar Database

• Connects commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors, similar to a residential MLS.

Virtual Reality (VR)

• Engages users with computer-generated environments through specialized electronic equipment.

Augmented Reality (AR)

• Alters the user's view of reality, layering digital components.

Artificial Intelligence (AI)

• Describes machine-exhibited intelligence, enhancing automation in various sectors.

Google Analytics

• A sophisticated software tool for analyzing website traffic and user behavior.

MLS Systems

• Established standard for data collection and distribution in real estate.

Millennial Generation

• Refers to individuals reaching young adulthood in the early 21st century, influencing market trends.

Consumer Expectations from Brokerage

• Seeks hyper-personalization, high online ratings, superior customer service, engaging marketing, community involvement, and solid agent relationships.

Mission Statement

• Communicates a company's long-term goals and overall purpose to stakeholders.

Value Statement

• Articulates the principles and beliefs guiding a company's operations and decision-making.

Action Plan

• Contains outlined steps and resources for achieving company objectives.

Operational Planning

• Involves the daily managerial activities within a company.

Due Diligence

• Involves thorough analysis and investigation before making business decisions.

DBA (Doing Business As)

• Refers to an assumed name under which a business operates instead of its legal name.

FBN (Fictitious Business Name)

• Another term for an assumed name used for business purposes.

Assumed Name

• A trade name that replaces the legal name of a business.

Trade Name

• An alternative name for a business that is distinct from its legal name.

Sole Proprietorship

• Owned and operated by a single individual, responsible for all liabilities.

Partnership

• A type of business entity formed by two or more partners sharing profits and liabilities.

General Partner

• Manages daily operations of a business and holds full liability.

Limited Partnership

• Formed in Texas with a certificate of limited partnership; includes general and limited partners.

Limited Partner

• Invests in a partnership but does not participate in daily operations; liability is limited to investment amount.

Limited Liability Partnership

• Protects partners from individual liability for debts and acts of other partners.

Joint Venture

• Temporary partnership for a specific project, dissolving after completion.

Syndicate

• A collaboration of two or more parties to create and manage a real estate investment.

Corporation

• Legally established business entity in Texas, consisting of shareholders, a board of directors, and corporate officers.

These flashcards provide essential terminology for real estate brokerage, covering key concepts such as Search Engine Optimization, Facebook Live, and the CoStar Database. Perfect for students looking to enhance their understanding of the real estate industry.