Deck 9: Motivating and Compensating Real Estate Agents

Question 1

___ refers to the need of the sales manager to control the extent to which the sales associates allocate their time.

Answer 1

Organizational control

Question 2

Factors that influence a sales person's performance that are related to high-order needs are called ___ factors.

Answer 2

intrinsic

Question 3

Factors that influence a sales person's performance that are related to low-order needs are called ___ factors.

Answer 3

extrinsic

Question 4

___ programs are aspects and conditions in the organization that help boost sales effort.

Question 5

In which cases is it more appropriate to compensate personnel with salary instead of commission?

A) long time-frame projects
B) residential sales
C) situations in which sales are largely seasonal
D) projects which require cooperation instead of competition
E) mixed promotional situations

Question 6

Which are individual factors a sales manager may use to determine a new sales associate's profit margin?

A) organization resources
B) industrial norms for the position
C) exact job position
D) past sales performance
E) market demand

Question 7

What are some work-life programs sales organizations offer to their sales teams?

A) flexible leave arrangements
B) flexible work hours
C) reduced working time
D) increased autonomy
E) robust reward programs

Question 8

Which of the following are extrinsic factors in a salesperson's performance?

A) achievement programs
B) pay
C) career advancement
D) ownership
E) work environment

Question 9

What are some characteristic emotions of dissatisfaction?

A) anger
B) happiness
C) despair
D) fear
E) hunger

Question 10

Using average pay for a position to influence a compensation plan is an example of what type of factor?

A) market factor
B) organizational factor
C) individual factor
D) ancillary factor
E) industry factor

Question 11

___ theory asserts that pay is essentially a reward outcome.

Question 12

The ___ can be broken down into the physical working environment, health and safety, ergonomics and space design, workplace design, privacy, lighting, and noise.

Question 13

___ refers to the length of time for new sales associates to become acclimated to selling.

Question 14

An ___ is a form of payment designed to support professional expenses related to the selling task.

Question 15

___ is a form of financial compensation in the form of a percentage of the sale of the property.

Question 16

___ is a form of financial compensation typically provided to management and administration that involves annual payment usually disbursed at regular intervals.

Question 17

___ may take the form of stock options and/or partnership.

Question 18

In the context of work-life programs, flexible location refers primarily to ___.

Question 19

___ programs are designed to allow sales people to attend their family needs, consequently giving them a chance to 'have a life' outside the office.

Question 20

The Job Characteristics Model is one popular model for ___.

Question 21

___ programs involve incentives or sales contests that reward sales performance.

Question 22

Which of the following is an organizational factor that influences compensation plans?

A) learning periods for a position in an organization
B) past sales performance in an organization
C) the organization's financial resources
D) market demand
E) industrial norms

Question 23

Which of the following is considered an incentive in the context of compensation plans?

A) a bonus
B) profit-sharing
C) commissions
D) stock options
E) retirement plans

Question 24

What type of position in real estate is generally paid in wages?

A) sales associate
B) sales manager
C) accountant
D) part-time staff
E) none of the above

Question 25

Evidence suggests that proper compensation is positively associated with employee presenteeism, absenteeism, and turnover.

Question 26

The U.S. Department Labor Statistics has data that shows that the number one reason employees leave their companies is that they do not feel appreciated.

Question 27

Typically, health and insurance plans are only offered by smaller, people-oriented real estate firms and are neglected by larger organizations.

Question 28

Salespeople who are balanced in the way they do a good job at work plus have a full life outside the office are likely to be least stressed and more happy than those who fail to maintain a work-life balance.

Question 29

A little animosity between members of the sales team is an effective motivating force for competition and consequently drives sales.

Question 30

Management psychologists refer to the connection between pay and performance "valence."

Question 31

In real estate, pay is an exclusively extrinsic motivational factor.

Question 32

Social needs have the ability to generate strong positive and negative emotions.

Question 33

A job that satisfies basic needs provides joy and happiness.

Question 34

Although young sales associates are attracted by the prospect of earning much money through commission, they often place more value on financial security than making more money.

Question 35

It is very difficult to compensate real estate professionals working on long time-frame projects by straight commission, and so such situations call for salaries.

Question 36

What is the first step of the compensation process?

A) validation of the compensation plan
B) identification of elements in the compensation plan
C) market research
D) packaging elements for individuals
E) none of the above

Question 37

Which is a typical career track for personal selling in a brokerage firm?

A) sales associate, assistant sales manager, sales manager
B) sales associate, senior sales associate, sales manager
C) sales associate, senior sales associate, partner
D) assistant sales manager, sales manager, partner
E) sales associate, sales manager, partner

Question 38

What does job enrichment usually entail?

A) providing sales people with greater autonomy and responsibility
B) creating rich cultural experiences with firm-sponsored events
C) setting up a well designed and comfortable workplace
D) organizing group outings to foster camaraderie
E) giving out rewards for high performers

Question 39

What type of rewards are most effective at motivating real estate professionals?

A) social recognition
B) travel rewards
C) extravagant presentation ceremonies
D) monetary rewards
E) extended vacation time

Question 40

Which of the following is a potential result from poor interpersonal relationships among sales associates?

A) burnout
B) sabotage
C) unhealthy competition
D) enhanced performance from competition
E) there are no effects

Question 41

Which of the following can result from satisfying social needs at work?

A) lust
B) happiness
C) disappointment
D) frustration
E) hunger

Question 42

Validating the process, in the context of compensation plans, means monitoring job performance and making changes to compensation components and levels as a direct function of this monitoring.

Question 43

Competition can sometimes dictate what a sales organization should pay its sales associates.

Question 44

In high demand markets, real estate sales people must work much harder than in low demand markets.

Question 45

A job that fails to satisfy a person's basic needs will cause job dissatisfaction.