Real 400



CENTURY REAL ESTATE SCHOOL

Brokerage Management Course Description

Textbook: Real Estate Brokerage, 9th edition.Cyr, Sobeck and McAdams, Real Estate Education Company and a copy of the current Kentucky Real Estate License Law Manual.

Course Description: The course is a comprehensive examination of all the skills and knowledge necessary to run a brokerage office in accordance with KRS Chapter 324,201 KAR Chapter 11, common law and federal law relating to real estate, and the standards of practice for a real estate broker pertaining to adequate supervision of all sales associates, personal assistants, and staff of the brokerage firm.

Attendance is mandatory.

Participation is required each class session.

Course Objectives: Upon completion of this course, the student will be able to:

• Distinguish the role of a principal broker and a sales associate.

• Demonstrate the knowledge and use of leadership skills in a variety of management styles.

• Analyze the business climate as it applies to the brokerage business.

• Outline the steps necessary to start a brokerage company, including the physical, office, computer, and communication systems.

• Delineate the skills necessary form human resource management, including hiring practices and selection, retention, evaluation, and termination of sales associates and employees.

• Analyze and apply risk management techniques, including knowledge of local, state, and federal laws.

• Develop a brokerage company marketing plan.

• Demonstrate the ability to analyze the on-going brokerage business in terms of goal achievement, income, image, all business systems, economic and professional trends, human resource needs and system audits.

• Prepare a business plan.

• Prepare a financial plan, including an operating budget.

• Prepare a policy and procedures manual that meets the curriculum requirements.

Course requirements: Course requires completion of three projects- Sample business plan, financial plan, and office policy and procedure manual. Projects must meet all of the objectives as outlined in the mandated curriculum. Successful completion of the above projects is mandatory and is required be the KREC to pass the course. Each unacceptable project will be returned to the student for revision until it is acceptable. Additional projects and assignments will be assigned. It is important that students complete the Business Plan, Financial Plan, and Office Policy manuals during the course. There will be ample time to accomplish this as shown in the Class Schedule.

Final Examination: Final comprehensive examination will be a combination of multiple choice and short answer questions that both test knowledge and apply skills as stated in the KREC required curriculum. Course requires passing a final examination of a minimum of 50 questions with a grade of 75% or better. If a student fails the examination, he/she may retake an additional test one time. Failure to pass the exam with a 75% or better will result in automatic failure of the entire course.

Grading: Students will receive a letter grade based on the criteria below. However the three mandated projects must meet minimum acceptable standards of completion to pass the course.

A 94-100

B 84-93

C 75-83

F Below 75

Chapter Quizes 10%

Business Plan 15%

Financial Plan 15%

Office Policy and Procedure Manual 15%

Final Exam 45%

Totals 100%

REGARDLESS OF COURSE PERCENTAGE, NO STUDENT PASSES THE COURSE WITHOUT A 75% OR HIGHER ON THE COMPREHENSIVE FINAL EXAM AND SUCCESSFUL COMPLETION OF ALL THREE MANDATED PROJECTS.

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