Real Estate Brokerage SAE Flashcards
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Questions and Answers

What is 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.

What is Facebook Live?

Video streaming through Facebook.

What is the CoStar Database?

Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors.

What is Virtual Reality (VR)?

<p>A computer-generated image or environment that can be interacted with by using special electronic equipment.</p> Signup and view all the answers

What is Augmented Reality (AR)?

<p>Provides a modified view of reality for the user.</p> Signup and view all the answers

What is Artificial Intelligence (AI)?

<p>A way of describing intelligence exhibited by machines.</p> Signup and view all the answers

What is Google Analytics?

<p>A powerful analytic software.</p> Signup and view all the answers

What are MLS Systems?

<p>The gold standard in data collection, processing, and dissemination in the real estate industry for years.</p> Signup and view all the answers

Who is considered part of the Millennial Generation?

<p>People reaching young adulthood in the early part of the 21st century.</p> Signup and view all the answers

What does a consumer want from their brokerage? (List one)

<p>Hyper-personalization, high online ratings, high level customer service, marketing that creates interest, give back to community, deeper relationship with agent.</p> Signup and view all the answers

What is a Mission Statement?

<p>Announces to the world what the company's long-term goals are, describing the overall purpose of the organization.</p> Signup and view all the answers

What is a Value Statement?

<p>Defines how a company's work will be accomplished, articulating a set of beliefs and principles that guide the way the company conducts business.</p> Signup and view all the answers

What is an Action Plan?

<p>Outlines the steps, approaches, and resources that will be used to fulfill the objectives of the company.</p> Signup and view all the answers

What is Operational Planning?

<p>The aspect of planning that encompasses the day-to-day operations of a company.</p> Signup and view all the answers

What is Due Diligence?

<p>Analyzing, exploring, investigating and evaluating a business to learn about the business, in order to position themselves to make an educated decision about whether to buy or not buy a business.</p> Signup and view all the answers

What does DBA stand for?

<p>Doing Business As.</p> Signup and view all the answers

What does FBN stand for?

<p>Fictitious Business Name.</p> Signup and view all the answers

What is an Assumed Name?

<p>A trade name used instead of the legal name of a business entity.</p> Signup and view all the answers

What is a Trade Name?

<p>An assumed name used instead of the legal name of a business entity.</p> Signup and view all the answers

What is a Sole Proprietorship?

<p>A venture owned by one individual.</p> Signup and view all the answers

What is a Partnership?

<p>A type of business entity that has partners.</p> Signup and view all the answers

What is a General Partner?

<p>Responsible for the day-to-day operations of the business and has full liability.</p> Signup and view all the answers

What is a Limited Partnership?

<p>A type of partnership created in Texas by filing a certificate of limited partnership with the Texas Secretary of State.</p> Signup and view all the answers

What is a Limited Partner?

<p>A business partner whose liability is limited to the amount invested in the partnership, having no involvement in the day-to-day operations of the business.</p> Signup and view all the answers

What is a Limited Liability Partnership?

<p>Formed by filing a statement with the Texas Secretary of State; a partner is not individually liable for the debts and obligations of the partnership.</p> Signup and view all the answers

What is a Joint Venture?

<p>A group of individuals joining together for a single business venture, combining their funds and talents to carry out one project.</p> Signup and view all the answers

What is a Syndicate?

<p>Two or more parties join together to create and operate a real estate investment.</p> Signup and view all the answers

What is a Corporation?

<p>A type of business entity created by filing with the office of the Secretary of State in Texas.</p> Signup and view all the answers

Study Notes

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.

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Description

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.

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