Deck 8: Recruiting and Training Real Estate Agents

Question 1

A ___ instructs incoming people about the company, its history, its chain of command, its mission, its markets and competitors, and other human resource management information, such as company policies regarding sales performance, ethics and law, and the compensation plan.

Answer 1

company orientation

Question 2

Real estate sales managers typically used a personality inventory that is administered to potential recruits called the ___.

Answer 2

DISC

Question 3

Job ___ refers to the process in which the sales manager develops a carefully crafted description for each job in the sales organization that comes under his umbrella.

Answer 3

analysis

Question 4

In order to cope with the high turnover rate in the real estate industry, many real estate brokers and sales managers take a ___ to hiring. That is, they hire enough people to insure every vacant position is filled regardless of whether candidates meet the requirements.

Question 5

What are some typical topics of instruction in a training program?

A) vehicle safety
B) product knowledge
C) personal health and hygiene
D) deductions for office supplies
E) selling techniques

Question 6

What are some physical characteristics expected of potential salespeople?

A) they should have a physically active lifestyle
B) they should not smoke or drink excessively
C) they should have a reliable method of transportation
D) they should have a basic knowledge of modern technology
E) they must be free from debilitating illnesses

Question 7

What are the principal advantages of selecting new agents over seasoned agents?

A) new agents often have more up-to-date knowledge of markets
B) seasoned agents are less likely to be driven to succeed
C) the commission split favors the firm
D) the greater chance of mistakes provides management with valuable teaching opportunities
E) brokers can shape the new agents with their guidance

Question 8

Which of the following are steps in the recruitment process?

A) selecting prospects
B) evaluating the programs
C) validating the process
D) job analysis
E) management objectives

Question 9

Which of the following are secondary goals of recruitment and selection?

A) to fill a position with a person with the right skills
B) to ensure those that fill the job are able to obtain job satisfaction
C) to make sure every position is filled with a 'warm body'
D) to ensure those that fill the job have low levels of turnover
E) to find people that represent specific minorities to fulfill quotas

Question 10

___ is a personality trait that reflects how a person responds to problems and challenges.

Question 11

___ is a personality trait that reflects how a person influences others to their point of view.

Question 12

___ is a personality trait that reflects how a person responds to the pace of change in the environment.

Question 13

The ___ method relies on the competition to determine a training budget.

Question 14

The ___ method is similar to the percentage-of-sales method with the exception that it is based on profits rather than sales commissions.

Question 15

The ___ method of budgeting uses sales commissions of the previous year to allocate a certain percentage of sales to cover training expenses related to the current year.

Question 16

___ refers to information provided by specific clients that may involve specific complaints about one or more sales associates--the nature of the complaint may reveal the training needs of the sales associates.

Question 17

___ is an assessment of training needs based on a strategy that management has articulated and is trying to implement.

Question 18

Salesforce ___ refers to an assessment of training needs based on the sales manager's personal observation of the sales associates' performance.

Question 19

___ interviews are used to reveal personal characteristics above and beyond what is on paper.

Question 20

___ refers to a personality trait that reflects how a person responds to the rules and procedures set by others.

Question 21

Which of the following is an example of objective and task training budgeting?

A) the firm's profits have increased, so the sales manager allocates more money for basic training
B) a sales manager notices a competitor is spending more on training and adjusts his own training budget accordingly
C) the firm has money leftover after paying for everything else, so the sales manager uses it for training
D) a sales manager notices a new market and allocates money to train the sales representatives to serve this market
E) the task of money-making from commissions is used to pay for the objective training

Question 22

What is the major conceptual flaw in the "percentage of sales" method of budgeting for training?

A) there is no way to know whether a percent of sales is sufficient
B) resources are unfairly allocated
C) years with high sales will generate high training budgets and years with low sales will generate low training budgets
D) agents who make more sales are required to have more training
E) there is no conceptual flaw in the 'percentage of sales' budgeting method

Question 23

What is the major disadvantage of the "all you can afford" approach to budgeting for training?

A) resources allocated for training may fall short of what is needed
B) more resources may be invested in trainees than necessary
C) it is difficult to itemize on tax forms
D) differences in training quality at different times may expose the firm to potential lawsuits from new hires who do not succeed
E) it lends itself to shallow thinking and may make managers lazy when deciding what type of training is appropriate

Question 24

Training seminars that are company-specific tend to be conducted in-house.

Question 25

Sales managers who want to set their training budget based on industry benchmarks must rely on word of mouth to uncover training budgets of their competitors.

Question 26

Experienced agents sell more properties, faster, for higher prices than rookie agents.

Question 27

Follow-up interviews are generally performed by secretaries or junior sales staff as a formality to deliver the formal job offer.

Question 28

Effective real estate salespeople are connected to family, friends, and associates in the community-that is, they are socially embedded in the community.

Question 29

DISC stands for Dominance, Influence, Steadiness, and Compliance.

Question 30

A person hoping to become a licensed real estate salesperson must be sponsored by a real estate organization operating in the state.

Question 31

In recruiting real estate agents in the U.S., brokers focus on aptitude for real estate sales. This is typically reflected by performance during on the job training.

Question 32

Company orientations are typically taught by the broker or sales manager.

Question 33

Role playing is primarily used to help a sales associate hone their best skills to perfection.

Question 34

The trainee satisfaction method of evaluating training programs is a robust and comprehensive way to evaluate the quality of a training program.

Question 35

Which of the following is a step in the training process?

A) prospecting
B) budgeting for training
C) initial screening
D) legal considerations
E) job analysis

Question 36

What is the principal benefit of training?

A) training improves customer relations
B) training increases job satisfaction
C) training reduces turnover
D) training enhances overall competency
E) training increases organizational commitment

Question 37

How can turnover rates for real estate professionals be reduced?

A) applying a validation process to recruitment procedures
B) hiring experienced agents already within the industry
C) increasing job qualifications
D) all of the above
E) none of the above

Question 38

What are some places where sales managers can recruit candidates?

A) employment agencies
B) job boards
C) career conferences
D) professional societies
E) all of the above

Question 39

What do experts who have a long history of using the DISC inventory claim are the most important traits for good recruits?

A) high steadiness, influence, compliance, and dominance
B) high dominance and influence, moderate compliance and steadiness
C) high steadiness and influence, moderate compliance and dominance
D) high dominance, influence, and steadiness, low compliance
E) high influence, steadiness, and compliance, low dominance

Question 40

What should be included in a job description for a real estate position?

A) the principal activities of the position
B) the market territory or segment the position services
C) who the prospective recruit will report to
D) performance evaluation and compensation
E) all of the above

Question 41

Which of the following is NOT a detrimental effect associated with high turnover in the real estate industry?

A) lack of long-term relationships with clients
B) reduced diversity in the workforce
C) the potential for underqualified people to be taken on as salespeople
D) the tendency for managers to use the warm-body approach to fill positions
E) loss of revenue when experienced salespeople take their clients to new firms

Question 42

The ultimate measure of the quality of any training program has to be sales performance.

Question 43

The primary goal of recruitment and selection is to fill vacant positions and to ensure that those who assume the positions have the right skills, experience, and personal characteristics to make them successful on the job