Delaware Real Estate Orientation Questions and Answers

On the surface, most brokers may seem pretty similar. So it's up to you to do a little probing to discover what makes one broker different than another. That's where you'll start to determine if you and the broker are a good fit. Which five of these areas should you inquire about when looking for a broker? 1. Reputation 2. Policies and Procedures 3. Training Program 4. Culture 5. Specialites One recommendation for finding a broker who works as hard as you will to avoid liability is to review the firm's policies and procedures manual. But what should you be looking for when you crack that manual open? Select the best two answers. 1. Clear Policies 2. Thoroughness One recommendation is to find out about the size of the firm. Why is this an important item to research? The size of the firm can affect the ways you can relate to your fellow licensees and your broker. It's a good idea to prepare for your interview with a broker by making a list of the questions you'll ask. Identify each of the following questions as one that should be on your list, and one that you don't want to ask a broker. -What will you do to guarantee my success? (Don't ask) -Are you still a practicing broker? (Ask) -What strategies do your top producers use to succeed? (Ask) -What types of marketing materials do you provide to your licensees? (Don't ask) -What's your floor time policy? (Ask) It's a good idea to prepare for your interview with a broker by making a list of the questions you'll ask. Identify each of the following questions as one that should be on your list, and one that you don't want to ask a broker. Part 2 -What kind of salary do you offer? (Don't ask) -What costs would I be responsible for? (Ask) -What type of technology support do you provide? (Ask) -Tell me about the training program you provide to new licensees. (ask) Mr. Brady works in real estate for a brokerage firm called Whosit Properties. His broker provides him with training and supervision. His work hours and the work he does aren't set by his broker. As long as Mr. Brady gets the job done, his broker doesn't care how much time it takes. Mr. Brady isn't required to work in the office, and he must pay for his own work supplies. Is Mr. Brady an independent contractor or an employee? Independent Contractor Independent Contractor -Worker's hours are set by the worker. -Worker is responsible for expenses and must provide own work tools. -Worker can choose to work from home or in the broker's office. -Worker is paid by the job, not by the hour. -Worker is supervised by the broker, but the broker doesn't direct or control the worker's work. Employee -Worker's expenses are covered by the broker. -Worker's hours are set by the broker. -Worker is required to work at a specified location chosen by the broker. -Worker is required to do the work in the order specified by the broker.