Broker Administration - 24 Credit Hour Course
(12 elective CE credit hours awarded)
Who Must Take This Course:
Any licensee who has held an active broker level license for at least two years and wants to obtain an Employing Broker designation.
Broker Administration Course Outline
BA1 - Starting a Real Estate Brokerage
CLASS DESCRIPTION: Are you ready to take on the challenge of starting or managing a real estate brokerage firm? This class will explore the key questions you must ask yourself to ascertain if this is the career path for you. It will also address; the challenges an Employing Broker faces, the advantage and disadvantages of buying a franchise vs. starting from scratch vs. buying an existing firm and the different types of brokerages available.
BA2 - Structuring Your Business
CLASS DESCRIPTION: You've decided to create a brokerage. What do you do now? This class will explore those first legal baby-steps including; choosing a legal entity, (sole proprietor or incorporate), selecting and protecting your names (yes, you need more than one name) and building your legal and financial team.
BA3 - Structuring Your Organization
CLASS DESCRIPTION: The human element. Employees (your staff) and Independent Contrators (your agents) are two separate animals in the eyes of the law and the IRS. Failing to understand these laws and differences could have grave consequences. This class will also cover the advantages and disadvantages of different types of commmission plans and developing the Office Policy Manual as required by the Colorado Real Estate Commission.
BA4 - Structuring Your Brokerage Systems
CLASS DESCRIPTION: Getting an office, phones, computers, showing systems, software, furniture, copiers, networks - the list of items to support your business seems endless. This class will address what you really need, perhaps more importantly what you do not need and what you should be paying.
BA5 - Structuring Your Finances
CLASS DESCRIPTION: Money, Money, Money. A topic so important it has its own class. This class will discuss sources of funds for your new venture, concrete strategies to increase your profitability and a simplified method for creating a financial plan and projecting income.
BA6 - Recordkeeping and Trust Accounting
BA7 - Colorado Real Estate Commission Rules and Regulations
Materials Provided: No materials are necessary
Testing: There is a short test at the end of the course.
Instructor - Jon Farnlof