Kentucky Broker Management Package (Course + Textbooks)

Content
568 modules
Rating
Instructor
Maddison Ethington
Price
$649.00 USD

Description

The Kentucky Broker Management course is designed to prepare real estate professionals for the responsibilities and challenges of managing a brokerage in compliance with Kentucky law. This course satisfies the Kentucky Real Estate Commission's requirements for broker licensing and provides essential tools for effective leadership, operational oversight, and risk management.

Participants will explore the legal, ethical, and business responsibilities of managing brokers, including supervision of licensees, record-keeping, trust account management, advertising regulations, office policies, and agency law. The course also includes strategies for building a productive team, handling conflict, and ensuring professional conduct within the firm.

Whether you're preparing to become a principal broker or are already in a leadership role, this course provides the knowledge and skills necessary to operate a compliant, ethical, and successful brokerage in the Commonwealth of Kentucky.

Objectives

By the end of this course, participants will be able to:

  • Understand the legal duties and regulatory expectations of a managing or principal broker under Kentucky Revised Statutes and KREC regulations

  • Explain proper trust account procedures and the requirements for maintaining transaction records

  • Identify best practices for supervising licensees, including team structure, training, and compliance monitoring

  • Create and implement brokerage policies and procedures that ensure ethical conduct and legal compliance

  • Interpret and apply Kentucky advertising rules and guidelines for brokerage and individual licensees

  • Demonstrate effective strategies for conflict resolution, communication, and leadership in a brokerage setting

  • Evaluate risk management practices related to license law violations, consumer complaints, and disciplinary action

  • Understand the role of the managing broker in agency relationships and proper disclosure protocols

  • Prepare for ongoing responsibilities in continuing education, policy updates, and KREC reporting

Learning credits

LH
48.0
1.
Welcome
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2.
Enrollment Agreement
3.
Course Navigation
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4.
Introduction
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5.
Unit 1 Contents
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6.
Unit 1 Overview
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7.
The Big Picture
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8.
Most Recent Economic Cycles
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9.
Recovering From the Great Recession
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10.
Four Stages of an Economic Cycle
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11.
The Global Pandemic
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12.
Figure 1.1: Economic Cycles
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13.
The Future Picture
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14.
What Will a Real Estate Company Be Doing?
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15.
What Is the Role For MLS?
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16.
Future of the Real Estate Industry
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17.
What Will Consumers Want?
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18.
Where Will the Real Estate Office Be?
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19.
What Will a Real Estate Company Look Like?
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20.
Who Will Be Leading the Company in the Next Ten Years?
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21.
What's the Next Generation's American Dream?
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22.
What Will Professional Associations Be Doing?
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23.
What Will Industry Regulations Look Like?
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24.
A Final Thought
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25.
Unit 1 Conclusion
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26.
Unit 1 Key Points of Review
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27.
Broker Management Discussion 1
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28.
Unit 1 Quiz
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29.
The Manager
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30.
Unit 2 Contents
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31.
Unit 2 Overview
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Character of a Leader
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Values and Ethics
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34.
Power
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35.
Leadership Qualities
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36.
Vision
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37.
Ego and Empathy
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38.
Team Building
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39.
Decisiveness
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40.
Accountability
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41.
Delegation
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42.
Leaders VS. Managers
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43.
Leadership Challenges and Development
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44.
Unit 2 Conclusion
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45.
Unit 2 Key Points to Review
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46.
Broker Management Discussion 2
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Unit 2 Quiz
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Unit 3 Contents
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49.
Unit 3 Overview
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50.
Management Styles
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51.
Dictatorial Style
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Autocratic Style
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53.
Democratic Style
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54.
Coaching Style
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55.
Laissez-Faire Style
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56.
Managerial Skills
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57.
Managing People
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58.
Praising behavior
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Modifying behavior
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60.
Managing Generations
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61.
Team Building
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62.
Managing Diversity
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63.
Managing the Manager
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64.
Labeling
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Prejudice
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66.
Work life and personal life
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67.
Stress and time management
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68.
Assuming The Position
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69.
Is a Promotion a Good Thing?
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70.
Are You Suited for the Job?
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71.
How Do You Make the Transition?
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72.
So You Want to Be a Sales Manager?
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73.
So You Want to Open Your Own Office?
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74.
Unit 3 Conclusion
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75.
Unit 3 Key Points Review
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76.
Broker Management Discussion 3
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77.
Unit 3 Quiz
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Unit 4 Contents
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79.
Unit 4 Overview
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80.
Oral Communication
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81.
Business Writing
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82.
Goal and Audience
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83.
Content and Organization
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84.
Write and Rewrite
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85.
Headlines and Delivery
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86.
Picking your Forum
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87.
Say It Face-to-Face
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88.
Put It in Writing
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89.
Email
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90.
Social media and other collaborative platforms
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91.
Texts and tweets
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92.
Document software
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93.
Hold a Meeting
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94.
Speaking in Public
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95.
Decision Making
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96.
Decision Making Styles
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97.
Classic Decision Making (Hierarchic)
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98.
Variables in Decision Making
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99.
Implementing Decisions
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100.
Unit 4 Conclusion
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101.
Unit 4 Key Points for Review
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102.
Broker Management Discussion 4
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Unit 4 Quiz
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In Conclusion of Part 1
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105.
Part 1 Scenario
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106.
Part 1 - The Analysis
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107.
Planning the Organization
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108.
Unit 5 Contents
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109.
Unit 5 Overview
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110.
Economic Factors
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111.
Gross Domestic Product
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112.
Inflationary Cycles
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113.
Figure 5.1: United States Annual Inflation Rates (2010 to 2020)
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114.
Consumer Confidence
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115.
The Housing Market
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116.
Political Factors
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117.
Corporate Development
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118.
Community Economic Growth and Development
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119.
Environmental Issues
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120.
Regulating the Industry
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121.
Sociological Factors
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122.
Baby Boomers and Their Offspring
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123.
Maturing Adults
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124.
Population Shifts
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125.
Culturally Diverse Population
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126.
Unit 5 Conclusion
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127.
Unit 5 Key Points Review
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128.
Broker Management Discussion 5
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129.
Unit 5 Quiz
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130.
Unit 6 Contents
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131.
Unit 6 Overview
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132.
Conducting a SWOT Analysis
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133.
Analyzing Business Opportunities
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134.
Geographic Markets
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135.
Referral networks
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136.
Relocation networks
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137.
Service Markets
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138.
Niche marketing
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139.
Beyond residential brokerage
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140.
Agency Services
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141.
Defining Your Market
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142.
Figure 6.1: Analyzing Potential in the Market
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143.
Analyzing The Competition
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144.
Market Share
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145.
Competitive Edge
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146.
Affiliations
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147.
Location
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148.
Marketing strategies
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149.
Consumer services
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150.
Recruiting advantages
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151.
Analyzing your Organization
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152.
Unit 6 Conclusion
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153.
Unit 6 Key Points Review
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154.
Broker Management Discussion 6
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155.
Unit 6 Quiz
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156.
Unit 7 Contents
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157.
Unit 7 Overview
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158.
Planning Rationale
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159.
Your Business Plan
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160.
Figure 7.1: Outline of the Components of a Plan
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161.
Mission and Vision
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162.
Mission Statement
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163.
Vision Statement
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164.
General Objective
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165.
Goals and Strategies
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166.
Goals
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167.
Strategies
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168.
Figure 7.2: Goals and Strategies
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169.
Contingency Plans
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170.
Putting All the Pieces Together
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171.
Implementing a Plan
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172.
Tactical Planning
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173.
Figure 7.3: Goals and Strategies
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174.
Changing the Plan
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175.
Back to the Long-Range Plan
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176.
Unit 7 Conclusion
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177.
Unit 7 Key Points Review
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178.
Broker Management Discussion 7
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179.
Unit 7 Quiz
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180.
In Conclusion of Part II
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181.
Part 2 Scenario
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182.
Part II - The Analysis
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183.
Part II - The Summary
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184.
Organizing the Organization
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185.
Unit 8 Contents
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186.
Unit 8 Overview
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187.
Life Cycles
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188.
Legal Ownership
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189.
Sole Proprietorship
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190.
Corporations
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191.
S Corporation
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192.
General Partnership
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193.
Limited Partnership
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194.
Limited Liability Companies
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195.
Mode of Operation
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196.
Independent
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197.
Franchise
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198.
National Corporations
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199.
Local Affiliations
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200.
Affiliated Business Arrangements
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201.
Mergers and Acquisitions
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202.
Evaluating a Business
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203.
Goodwill
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204.
Organizational culture
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205.
Transition
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206.
Internal Structure
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207.
One-Person Organization
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208.
One-to-Ten-Agent Organization
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209.
Figure 8.1: One-to-Ten-Agent Organization
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210.
Monolithic Organization
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211.
Figure 8.2: Monolithic Organization
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212.
Decentralized Organization
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213.
Figure 8.3: Decentralized Organization
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214.
Chain of Command
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215.
Informal Organization
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216.
Job Descriptions
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217.
Unit 8 Conclusion
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Unit 8 Key Points of Review
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219.
Broker Management Discussion 8
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Unit 8 Quiz
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Unit 9 Overview
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Unit 9 Contents
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223.
Your Office
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224.
Site
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225.
Size
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226.
Figure 9.1: Space Area Checklist
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227.
Legal issues
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228.
Design and Decor
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229.
Public areas
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230.
Figure 9.2: Sample Office Arrangement
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231.
Figure 9.3: Additional Office Layout
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232.
Figure 9.4: Remodeling, Decorating, and Furnishing Checklist
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233.
Work areas
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234.
Equipment and furnishings
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235.
Communications and Information Systems
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236.
The System
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237.
Software
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238.
Hardware
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239.
System Maintenance
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240.
Technical Support
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241.
Preserving the Database
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242.
Other Modes of Communicating
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Voice messaging
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244.
Facsimile machines and electronic fax
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245.
Multilingual Communications
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246.
Requirements of the Americans with Disabilities Act
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247.
Communicating With People Who Are Hearing Impaired
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248.
Communicating With People Who Are Visually Impaired
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249.
Facilities Management
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250.
Security in the Office
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251.
Safety in the Office
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252.
Unit 9 Conclusion
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Unit 9 Key Points of Review
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254.
Broker Management Discussion 9
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255.
Unit 9 Quiz
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256.
Unit 10 Contents
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257.
Unit 10 Overview
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258.
The Financials
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259.
Balance Sheet
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260.
Income Statement
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261.
Income
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262.
Expense
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263.
Cash Flow Statement
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264.
Financial Resources
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265.
Financial Projections
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266.
Procuring Financing
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267.
Financing Portfolio
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268.
General Operating Budget
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269.
Figure 10.1: Income and Operating Expense Budget
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270.
Gross Income
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271.
Price-setting decisions
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272.
Operating Expenses
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273.
Cost of sales, or transaction expense
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274.
Marketing and advertising expense
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275.
Occupancy
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276.
Equipment and supplies
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277.
Dues and publications
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278.
Service fees
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279.
Salaries
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280.
Taxes and licenses
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281.
Miscellaneous expenses
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282.
Bank charges
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283.
Repairs and replacements
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284.
Reserve for contingencies
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285.
Net Income
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286.
Using Budgets to Monitor Operations
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287.
Profit Centers
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288.
Variable Expense Budgets
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289.
Monthly Operating Budgets
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290.
Prudent Procedures
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291.
Trust or Escrow Accounts
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292.
Figure 10.2: Trust/Escrow Ledger
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293.
Security
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294.
Unit 10 Conclusion
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295.
Unit 10 Key Points of Review
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296.
Broker Management Discussion 10
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297.
Unit 10 Quiz
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298.
Unit 11 Contents
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299.
Unit 11 Overview
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300.
Business Ethics
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301.
The Heart of Ethics
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302.
Developing a Company Code of Ethics
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303.
Code of Ethics
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304.
Institutionalizing Ethics
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305.
Professionalism
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306.
Professional Standards
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307.
Policies and Procedures
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308.
Critical Issues that Must be Addressed
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309.
General Business Policies
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310.
Agency
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311.
Antitrust
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312.
Equal opportunity
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313.
Real estate license law and rules and regulations
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314.
General workplace policies and procedures
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315.
Employee Policies
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316.
Procedures for Independent Contractors/Salespeople
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317.
Unit 11 Conclusion
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318.
Unit 11 Key Points of Review
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319.
Broker Management Discussion 11
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320.
Unit 11 Quiz
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321.
Unit 12 Contents
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322.
Unit 12 Overview
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323.
Market Identity
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324.
What’s in a Name?
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325.
The Purpose of a Brand's Signature
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326.
What’s in a Signature?
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327.
What’s the Plan?
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328.
Creating and Managing an Effective Website
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329.
Websites
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330.
The power of words
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331.
An interactive community
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332.
Enhanced site placement
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333.
Accessibility
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334.
Site management
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335.
Ownership
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336.
The Digital Media Business
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337.
Blogs and Social Media
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338.
The Apps World
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339.
Online Advertising
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340.
Tradition Meets the 21st Century
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341.
Broadcast and Print Media
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342.
Direct Mail
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343.
Press Releases
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344.
Letters to the Editor
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345.
Media Resource
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346.
Newsletters
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347.
Flyers and Brochures
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348.
Directories
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349.
Branding Opportunities
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350.
Marketing Properties
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351.
Photography
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352.
Legal issues-2
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353.
Ad Placement
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354.
Brochures and Flyers
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355.
Open Houses
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356.
Safety of the salesperson
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357.
Safety of the seller
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358.
Safety of the visitor
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359.
Yard Signs
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360.
The Company's Image
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361.
Telephone Consumer Protection Act
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362.
Harassment
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363.
Blockbusting/panic selling
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364.
Unit 12 Conclusion
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365.
Unit 12 Key Points of Review
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366.
Broker Management Discussion 12
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367.
Unit 12 Quiz
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368.
In Conclusion of Part III
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369.
Part 3 Scenario
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370.
Part III: The Analysis
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371.
Part III - The Summary
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372.
Staffing and Directing
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373.
Unit 13 Contents
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374.
Unit 13 Overview
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375.
Staffing Needs
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376.
Job Qualifications
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377.
Personnel Positions
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378.
Clerical and Administrative Support Positions
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379.
Personal Assistants
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380.
Managerial Positions
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381.
HIRING SALES PERSONNEL
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382.
Sales Force
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383.
The size of a sales force
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384.
Full-time vs. part-time
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385.
Experienced vs. newly licensed sales force
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386.
Employee vs. independent contractor
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387.
A way out of the full-time/part-time dilemma
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388.
Compensation Management
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389.
Pay Plans
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390.
Exempt vs. nonexempt workers
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391.
Equity
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392.
Justice
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393.
Sales Compensation
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394.
Managerial Compensation
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395.
Legalities of Employment
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396.
Equal Employment Practices
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397.
Anti-Harassment Policies
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398.
Safety in the Workplace
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399.
Unit 13 Conclusion
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400.
Unit 13 Key Points of Review
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401.
Broker Management Discussion 13
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402.
Unit 13 Quiz
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403.
Unit 14 Contents
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404.
Unit 14 Overview
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405.
Employer of Choice
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406.
Employment Process
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407.
Figure 14.1: Employment Process
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408.
Recruiting
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409.
Prescreening
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410.
Formal Interviews
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411.
Prepare the interview
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412.
Conducting interviews
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413.
Selection
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414.
Hiring
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415.
Figure 14.2: Sample Independent Contractor Agreement
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416.
Noncompete covenants
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417.
Recruiting Salespeople
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418.
Recruiting Experienced Talent
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419.
Recruit a manager
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420.
Network the industry
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421.
Mobilize ambassadors
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422.
Recruiting Unlicensed Talent
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423.
Career Programs
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424.
Licensing Courses
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425.
Trial Training Sessions
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426.
Scholarships
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427.
Direct Mail-2
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428.
Selecting Salespeople
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429.
Unit 14 Conclusion
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430.
Unit 14 Key Points of Review
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431.
Broker Management Discussion 14
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432.
Unit 14 Quiz
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433.
Unit 15 Contents
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434.
Unit 15 Overview
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435.
Indoctrination
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436.
Orientation Programs
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437.
Assessing New Hires
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438.
Business Plans
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439.
Professional Competence
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440.
Training Programs
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441.
Training Adult Learners
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442.
Managers as Trainers
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443.
Effective Training, Mentoring, and Cross-Training
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444.
Effective Sales Training
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445.
Mentoring Programs
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446.
Reverse mentoring
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447.
Cross-Training
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448.
Engagement in the Organization
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449.
Problem-Identification Meetings
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450.
Brainstorming Meetings
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451.
Decision-Making Meetings
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452.
Attitude and Recognition
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453.
Retreats
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454.
Additional Opportunities
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455.
Unit 15 Conclusion
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456.
Unit 15 Key Points of Review
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457.
Broker Management Discussion 15
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458.
Unit 15 Quiz
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459.
Unit 16 Contents
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460.
Unit 16 Overview
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461.
Managing Employees and Independent Contractors
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462.
Performance Management
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463.
Performance Criteria
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464.
Personal Business Plans
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465.
Figure 16.1: Annual Office Production Goals, 2016–2017
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466.
Performance Feedback
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467.
Performance Incentives
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468.
Job performance–based pay
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469.
Status
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470.
Contests
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471.
Awards
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472.
Negative incentives
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473.
Performance Appraisals
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474.
Rating Performance
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475.
Performance Interviews
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476.
Retention
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477.
Employee Relations
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478.
Problem Solving
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479.
Management’s problem
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480.
Disciplinary meetings
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481.
The employee’s problem
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482.
Resignation and Termination
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483.
Resignation
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484.
Termination
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485.
Exit Interviews
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486.
Unit 16 Conclusion
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487.
Unit 16 Key Points of Review
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488.
Broker Management Discussion 16
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489.
Unit 16 Quiz
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490.
In Conclusion of Part IV
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491.
Part 4 Scenario
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492.
Part IV: The Analysis
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493.
Part IV: The Summary
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494.
Controlling the Organization
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495.
Unit 17 Overview
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496.
Unit 17 Contents
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497.
Information Management
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498.
License Records
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499.
Personnel Records
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500.
Managing With Information
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501.
Transaction Files
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502.
Transaction or Service Files
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503.
Listing activities
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504.
Sales and closing activities
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505.
Minimizing Expenses
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506.
Personnel Costs
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507.
Marketing and Advertising
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508.
Cost of Sales
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509.
Economies in the Office
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510.
Manage Cash
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511.
Maximizing Income
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512.
Business Sectors
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513.
Pricing Strategies
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514.
Quality Control
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515.
Quality Service Standards
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516.
Servicing sellers
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517.
Servicing buyers
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518.
Quality Control
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519.
Customer feedback
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520.
Professional competency
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521.
Problem Solving-2
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522.
Looking into the Future
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523.
Figure 17.1: Growth of an Organization
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524.
Growing the Enterprise
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525.
Unit 17 conclusion
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526.
Unit 17 Key Points of Review
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527.
Broker Management Discussion 17
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528.
Unit 17 Quiz
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529.
Unit 18 Contents
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530.
Unit 18 Overview
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531.
Protecting the Institution
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532.
Protecting the Brand
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533.
Protecting the License
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534.
Succession Planning
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535.
Security Planning
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536.
Cybersecurity
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537.
Workplace Fraud
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538.
Natural Disasters
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539.
Risk Management Culture
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540.
Identify Risk
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541.
Analyze Risk
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542.
Evaluate Alternatives
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543.
Handling a Risk
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544.
Additional Offense
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545.
Defense in Risk Management
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546.
Documentation
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547.
Insurance
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548.
Dispute Resolution
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549.
Arbitration Between Brokers
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550.
Unit 18 Conclusion
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551.
Unit 18 Key Points of Review
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552.
Broker Management Discussion 18
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553.
Unit 18 Quiz
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554.
In Conclusion of Part 5
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555.
Part 5 Scenario
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556.
Part V: The Analysis
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557.
Part V: The Summary
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558.
Understanding Kentucky Laws
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559.
PROJECTS
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560.
Course Project 1: Business Planning
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561.
Course Project 2: Financial Planning
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562.
Final Project: Office Policy and Procedures Manual
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563.
Final Exam Information
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564.
Study Tips and tools
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565.
Final Exam
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566.
Course Affidavit
567.
Evaluation
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568.
Completion
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