Real Estate Brokerage SAE - Champion's School of Real Estate Questions and Correct Solutions 2024/2025

Real Estate Brokerage SAE - Champion's School of Real Estate Questions and Correct Solutions 2024 Search Engine Optimization (SEO) - Answer -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. Fcebook Live - Answer -Video streaming through facebook. CoStar Database - Answer -Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors. Virtual Reality (VR) - Answer -A computer-generated image or environment that can be interacted with by using special electronic equipment Augmented Reality (AR) - Answer -Provides a modified view of reality for the user Artificial Intelligence (AI) - Answer -A way of describing intelligence exhibited by machines Google Analytics - Answer -A powerful analytic software MLS Systems - Answer -The gold standard in data collection, processing, and dissemination in the real estate industry for years. Millennial Generation - Answer -People reaching young adulthood in the early part of the 21st century What does a consumer want from their brokerage? - Answer -- hyper-personalization - high online ratings - high level customer service - marketing that creates interest - give back to community - deeper relationship with agent Mission Statement - Answer -Announces to the world what the company's long-term goals are, describing the overall purpose of the organization.Value Statement - Answer -Define how a company's work will be accomplished, articulating a set of beliefs and principles that guide the way the company conducts business. Action Plan - Answer -Outlines the steps, approaches and resources that will be used to fulfill the objectives of the company. Operational Planning - Answer -The aspect of planning that encompasses the day-to-day operations of a company. Due diligence - Answer -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. DBA - Answer -Doing Business As An assumed name or a trade name used instead of the legal name of a business entity. FBN - Answer -Fictitious Business Name An assumed name or a trade name used instead of the legal name of a business entity. Assumed name - Answer -A trade name used instead of the legal name of a business entity. Trade name - Answer -An assumed name used instead of the legal name of a business entity. Sole Proprietorship - Answer -A venture owned by one individual. Partnership - Answer -A type of business entity that has partners General partner - Answer -Responsible for the day to day operations of the business and has full liability limited partnership - Answer -A type of partnership created in Texas by filing a certificate of limited partnership with the Texas Secretary of State Limited partner - Answer -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. limited liability partnership - Answer -Formed by filling a statement with the Texas Secretary of State. a partner is not individually liable for the debts and obligations of the partnership, nor is the partner liable for tortious acts committed by other partners. joint venture - Answer -A group of individuals joining together for a single business venture, combining their funds and talents to carry out one project. When the project or venture is complete, they will dissolve as a group. syndicate - Answer -Two or more parties join together to create and operate a real estate investment corporation - Answer -estate investment CorporationCorporations in Texas are created by filing with the office of the Secretary of State. The corporate entity is comprised of three components: - Shareholders (stockholders) who are the owners of the corporation