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© 2011 Cengage Learning
Alternate Real Estate Careers Chapter 16 © 2011 Cengage Learning
RATIONALE FOR CHAPTER There are many different real estate careers that can be pursued by licensees. This chapter identifies alternate careers in commercial real estate brokerage, property management, and being a licensed assistant.
© 2011 Cengage Learning Focus of Presentation This chapter will teach you some of the major differences between residential and commercial brokerage. You will learn the basics of how commercial properties are valued.
© 2011 Cengage Learning Focus of Presentation A discussion of the various professional designations available will enlighten you about how to increase your abilities and earnings through education.
© 2011 Cengage Learning Focus of Presentation This chapter details about property management as one of the more sought-after alternate careers. The role of the licensed assistant and buyer’s representative is discussed from the employing-agent’s and the licensed assistant’s point of view.
© 2011 Cengage Learning CHAPTER SIXTEEN OUTLINE 16.1 COMMERCIAL REAL ESTATE BROKERAGE 16.2 PROPERTY MANAGEMENT AND LEASING 16.3 LICENSED REAL ESTATE ASSISTANT
© 2011 Cengage Learning COMMERCIAL REAL ESTATE BROKERAGE Residential and commercial brokerage activities differences Property valuation process and how such things as pro-forma rents and current actual rents must be “blended” to arrive at a reasonable value for a property.
© 2011 Cengage Learning COMMERCIAL REAL ESTATE BROKERAGE CCIM designation and its probable effect on your future income. CPM and RLI designations and their probable effect on a career in property management or land brokerage.
© 2011 Cengage Learning COMMERCIAL REAL ESTATE BROKERAGE Discuss the value of specializing in one type of income property brokerage and the advantages to the agents and the clients. Types of commercial investment properties and the unique issues of each one.
© 2011 Cengage Learning COMMERCIAL REAL ESTATE BROKERAGE Two ways to enter commercial real estate strengths weaknesses
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING How do most property management firms tend to specialize in one property type for maximum effectiveness and minimum liability? Requirements for a property management company to be certified as an Accredited Management Organization (AMO).
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING Condominium association management Written management agreement Three different types of property managers how each is different
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING Discuss the state-defined duties and responsibilities placed on a property manager. Using the form in the text (Figure 16.2), discuss the property management agreement. Discuss what a conscientious property manager’s duties are.
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING Current rent schedules what is involved? Importance of maintaining proper accounting records and the legal requirements involved. Trust account ledger
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING Requirements of a valid lease various types Residential lease
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING Use the Residential Lease to discuss the provisions of a valid lease and the protections afforded the owner and tenant. Importance of using a move in/move out checklist to avoid problems with tenants and leasing agents or owners.
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING Right of entry Responsibilities of the tenant and the landlord. Assignment vs. sublease and the legal effects of each on the primary tenant.
© 2011 Cengage Learning PROPERTY MANAGEMENT AND LEASING Terminate a lease what is involved? Evictions and Unlawful Detainer actions. Retaliatory evictions and the protections afforded tenants.
© 2011 Cengage Learning LICENSED REAL ESTATE ASSISTANT Costs of licensed assistants today. Use of incentive bonuses. How to pay a buyer’s representative and a person who works as a combination licensed assistant and buyer’s rep.
© 2011 Cengage Learning LICENSED REAL ESTATE ASSISTANT Discuss the economics of hiring a licensed assistant (rising agent-income vs. hourly cost of the assistant). The right time to hire an assistant? Art of transitioning, and how to delegate authority.
© 2011 Cengage Learning LICENSED REAL ESTATE ASSISTANT Duties of a licensed assistant. Interview and hire a licensed assistant.
© 2011 Cengage Learning LICENSED REAL ESTATE ASSISTANT Discuss the importance of proper training of a licensed assistant as it applies to the employing agent, the broker, and the Department of Real Estate requirements. Benefits of the REPA professional designation from the assistant’s viewpoint and the employing agent’s viewpoint.
© 2011 Cengage Learning LICENSED REAL ESTATE ASSISTANT Effectively work with a licensed assistant. Four deadly sins and how to avoid them. Effectiveness (and potential problems) of the husband/wife team. Vacation coverage.
© 2011 Cengage Learning. Choosing The Right Broker Chapter 2 © 2011 Cengage Learning.
Chapter 6 LANDLORD AND TENANT (Lessor and Lessee) 177.
Chapter 5 Brokerage and Agency 2010©Cengage Learning. All Rights Reserved.
© 2012 Cengage Learning. Real Estate Leases Chapter 16.
Copyright ©2014 NARPM®(rev. 10/14). Management Businesses Are Started To: Copyright ©2014 NARPM®(rev. 10/14)
© 2011 Cengage Learning. Escrow and Title Insurance Chapter 12 © 2011 Cengage Learning.
© 2013 All rights reserved. Chapter 8 Property Management New York Real Estate for Brokers, 5 th e By Marcia Darvin Spada Cengage Learning.
© 2011 Cengage Learning. Real Estate Financing Chapter 11 © 2011 Cengage Learning.
Commercial Webinar Series 1 hour presentation Commercial Commission Agreements presented by Rick Albers Questions will be answered at the end. For technical.
Real Estate Brokerage. The Real Estate Sales Process Listing agreement Marketing the property and qualifying buyers Presentation and negotiations.
44.1 b a c kn e x t h o m e Chapter 44 Objectives Explain the nature and formation of the landlord/tenant relationship. Name the various types of tenancies.
© 2009 by South-Western, Cengage Learning SAMIRLANDER Chapter 1.
Chapter 1 Property Management– A Profession of Service.
Thomson/South-Western©2008 Chapter 16 Real Estate Leases _______________________________________.
1 ARE 306Unit 15 Tenancies. 2 Definitions l Lessee l Lessor l Rent.
© 2008 by South-Western, Cengage Learning Chapter 17 Charles J. Jacobus Thomas E. Gillett.
Def:It is an opinion of value rendered by an impartial person skilled in the analysis and evaluation of real estate Appraisals.
Real Estate Principles and Practices Chapter 15 Property Management © 2010 by South-Western, Cengage Learning.
Chapter 14 Property Management and Insurance 2010©Cengage Learning. All Rights Reserved.
©2011 Cengage Learning. Contents Ch 1: Introduction to Real Estate Ch 2: Part I: Legal Description, Method of Acquiring Title, Deeds Ch 2: Part II: Estates.
Chapter 10 Real Estate Brokerage. The Real Estate Sales Process listing agreement marketing the property and qualifying buyers presentation and.
Chapter 13 Leasehold Estates 2010©Cengage Learning. All Rights Reserved.
McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 23 Personal Property, Real Property, and Land Use Law.
© 2013 All rights reserved. New York Real Estate for Salespersons, 5 th e Chapter 19 Property Management1 By Marcia Darvin Spada Cengage Learning.
Revised Chapter 17 Slide # 1 Copyright – David A. McGowan All rights reserved Chapter 17 LEASES (Page 330) Landlord Property owner Lessor Tenant.
TEXAS REAL ESTATE COMMISSION Property Management Issues.
Modern Real Estate Practice in Illinois Chapter 5: Real Estate Brokerage.
© 2011 Cengage Learning. The Life of an Escrow Chapter 13 © 2011 Cengage Learning.
©2014 Kaplan, Inc. Modern Real Estate Practice in Illinois Eighth Edition Chapter 1: Introduction to the Real Estate Business.
Real Estate Principles and Practices Chapter 14 Leases © 2010 by South-Western, Cengage Learning.
Law for Business and Personal Use © South-Western, a part of Cengage LearningSlide 1 Chapter 18 Ownership and Leasing of Real Property Chapter 18 Ownership.
1 Property Management As a Prospecting Tool to Increase Sales.
Leases. Leasing Basics Lessor Lessee Landlord retains a reversionary right In most states, Alabama included, lease agreements for more than one year must.
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Chapter 5 Slide 1 Copyright – David A. McGowan All rights reserved. Revised Chapter 5: REAL ESTATE BROKERAGE Broker Salesperson Leasing Agent.
Maryland Agency Disclosure Charles A. Kasky, Esq., RCE Vice President of Legal Affairs Maryland Association of REALTORS ®
Chapter 12 Real Estate Brokerage and Listing Contracts REAL ESTATE FINANCE 331.
© 2010 by Cengage Learning Chapter 8 ________________ Real Estate Sales Contracts.
Chapter 6 Listing Agreements and Buyer Representation Whether representing sellers or buyers, the role of the real estate professional is one of building.
“DOING BUSINESS THE RIGHT WAY....” Basic Introduction to Residential Property Management 2011 PRO LEASING AND PROPERTY MANAGEMENT COUNCIL PRESENTS...
Real Estate Principles and Practices Chapter 15 Property Management © 2014 OnCourse Learning.
© 2010 by Cengage Learning Real Estate Leases Chapter 17 ________________ Real Estate Leases.
Chapters 13 & 14: Brokerage Real Estate Principles: A Value Approach Ling and Archer.
Chapter 15 Business Management Practices1 New Jersey Real Estate for Salespersons and Brokers By Marcia Darvin Spada Thomson/South-Western Copyright, 2006.
Ch 8 Real Estate Brokerage. 2 Outline I. Real Estate Brokers vs. Sales Associates II. The Real Estate Sales Process III. Real Estate Regulation IV. Legal.
© 2012 Cengage Learning. The Principal–Broker Relationship: Employment Chapter 19.
© 2012 Cengage Learning. Licensing Laws and Professional Affiliation Chapter 18.
© 2015 OnCourse Learning Chapter 13 Leasehold Estates.
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