SAMLE NINTH EDITION

SAM PLE Re a l Esta te Bro ke ra g e :

A Ma na g e me nt G uid e

NINTH EDITIO N

La ure l D. Mc Ad a ms a nd Jo a n m. So b e c k

9TH EDITION

S REAL ESTATE BROKERAGE: AA MANAGEMENT GUIDE MLaurel D. McAdams and Joan m. Sobeck

PLE

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This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought.

President: Dr. Andrew Temte Executive Director, Real Estate Education: Melissa Kleeman-Moy Development Editor: Rosita Hernandez

MREAL ESTATE BROKERAGE: A MANAGEMENT GUIDE NINTH EDITION ?2017 Kaplan, Inc. Published by DF Institute, Inc., d/b/a Dearborn Real Estate Education 332 Front St. S., Suite 501 La Crosse, WI 54601

All rights reserved. The text of this publication, or any part thereof, may not be reproduced in any manner whatsoever without written permission from the publisher.

Printed in the United States of America

PLE ISBN: 978-1-4754-5197-9

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CONTENTS

Introduction vii

MCHAPTER 1

The Challenge of Change

The Big Picture 2 The Future Picture 6 A Final Thought 16 Conclusion 16 Discussion Exercises 17

1

Unit I: The Manager 19

CHAPTER 2

PCHAPTER 3 LE CHAPTER 4

Leadership 21

Character of a Leader 22 Leadership Qualities 25 Leaders vs. Managers 28 Conclusion 30 Discussion Exercises 30

Management Skills 31

Management Styles 32 Managerial Behavior 35 Assuming the Position 47 Conclusion 53 Discussion Exercises 54

Communications and Decision Making 55

Oral Communication 56 Business Writing 57 Pick Your Forum 63

Decision Making 71

Conclusion 76

Discussion Exercises 76

In Conclusion of Unit I 77

The Scenario 77 The Analysis 78

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Contents

Unit II: Planning the Organization 81

CHAPTER 5 CHAPTER 6

Analyzing the Business Environment 83 Economic Factors 84 Political Factors 89 Sociological Factors 93 Conclusion 99 Discussion Exercises 99

Analyzing the Market 101

MCHAPTER 7

Analyzing Business Opportunities 102 Analyzing the Competition 117 Analyzing Your Organization 120 Conclusion 122 Discussion Exercises 122

Developing a Plan 125 Planning Rationale 126

Your Business Plan 128

Implementing a Plan 138 Conclusion 140 Discussion Exercises 141

In Conclusion of Unit II 143

The Scenario 143

PThe Analysis 144

The Summary 145

Unit III: Organizing the Organization 147

LE CHAPTER 8

Structuring the Organization 149

Life Cycles 149 Legal Ownership 151 Mode of Operation 156 Mergers and Acquisitions 162 Internal Structure 167

Chain of Command 173

Conclusion 177

Discussion Exercises 178

CHAPTER 9

Structuring Business Systems 179

Your Office 180 Communications and Information Systems 192 Facilities Management 203 Conclusion 206 Discussion Exercises 206

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