Table of Contents

Broker's Business Planning and Financial Management Licensing Course

Manual: UBC Real Estate Division. 2023. Broker's Business Planning and Financial Management Licensing Course Manual. Vancouver, BC: UBC Real Estate Division.

Chapter 1 – Organizing The Real Estate Brokerage Industry
Real Estate Services and the National Economy
Organization of the Real Estate Brokerage Industry
Real Estate Brokerage Organizational Models
Relationships within the Real Estate Firm

Chapter 2 – The Real Estate Services Act
The History and Purpose of the Real Estate Services Act
Requirements for Licensing
Importance of Agency Law in Providing Real Estate Services
The Licensing Body – The BC Financial Services Authority
The Real Estate Foundation, the Errors and Omissions Insurance Corporation, and Compensation Fund Corporation
Other Real Estate Related Organizations
Duties under the Real Estate Services Act
Trust Accounts
A Closer Look at the Rules
The Real Estate Development Marketing Act

Chapter 3 – Licensee Standards and Regulatory Guidelines
Licensee Conduct, Discipline and Enforcement
The Knowledge Base
Additional Responsibilities of a Brokerage
Mandatory Requirements and Business Practices

Chapter 4 – Professionalism and Ethics
Professions, Professionals, and Professionalism
The Regulation of a Profession
Regulating in the Public Interest
How Honesty and Integrity Relates to Trust
Duties to Clients
Duties to Third Parties
The Duty to Report Misconduct
Handling Reports of Misconduct as a Managing Broker
A Framework for Ethical Decision Making
The Importance of Continuing Education for Professionalism
Ethical Codes Outside of RESA and the Rules

Chapter 5 – Technology and The Real Estate Office
Mobile Office Environment
Software, Apps, and Technological Devices
Online Marketing
Data Protection and Backup
Service and Support
Security, Computer, and Consumer Protection

Chapter 6 – Business Strategy
Introduction to Business Strategy
Defining Strategy
Writing a Strategy Statement
Types of Strategy
Linking Strategy and Entrepreneurship
Change Management
Competitive Advantages

Chapter 7 – Entrepreneurship and The Business Plan
Introduction to Entrepreneurship
Business Idea and Concept
Structure of the Business Plan
Project Management
Personal Time Management

Chapter 8 – Marketing
Introduction to Marketing
Understanding the Customer
Integrated Marketing – The 4 Ps
Effective Positioning
Marketing for Services
Communicating the Marketing Strategy
Customer Loyalty

Chapter 9 – Introduction to Accounting and Financial Statements
Brokerage Legal Structures and Licenses
Financial Information
General Records
Form and Content of Financial Statements
Financial Statements
Appendix 9.1: Example of a Chart of Accounts Appropriate for a Real Estate Brokerage

Chapter 10 – Financial Statement Analysis and the Accountant’s Report
Audit Versus Review Versus Compilation Engagement
Analyzing Financial Statements
Understanding the Brokerage's Financial Position
Accountant’s Report
Brokerage Activity Report
Appendix 10.1: Alpine Realty Services Limited – Financial Statements
Appendix 10.2: Accountant's Report – BC Financial Services Authority
Appendix 10.3: Brokerage Activity Report

Chapter 11 – Trust Accounting
Trust Accounts
Commission Trust Agreements
Internal Control
Monitoring the Controls
Financial Records

Chapter 12 – Budgeting and Payroll Accounting
Introduction to Budgeting
Cash Budgets
Appendix 12.1: Form TD1 – Personal Tax Credits Return
Appendix 12.2: Form TD1X – Statement of Commission Income and Expenses for Payroll Tax Deductions
Appendix 12.3: T4 – Statement of Remuneration Paid
Appendix 12.4: Canada Pension Plan Contributions Table
Appendix 12.5: Employment Insurance Premiums Table (non-Quebec)
Appendix 12.6: Federal Tax Deductions Table
Appendix 12.7: BC Provincial Tax Deductions Table

Chapter 13 – Taxation
Overview of the Canadian Taxation System
Forms of Business Organization
Taxation of Business and Property Income
Tax and the Real Estate Brokerage
Filing and Paying Taxes
Tax Evasion and Tax Avoidance
Appendix 13.1: Statutory Remittances

Chapter 14 – Human Resources Overview: Understanding the Employment Relationship
Contexts of the Employment Relationship
Recruiting, Developing, and Maintaining a Workforce
Retaining Employees
Managing Employee Performance
Discipline and Fairness in the Workplace
Employee Involvement, Engagement, and Retention

Chapter 15 – Human Resources Management: Legal Context, Job Analysis, Recruitment, and Selection
Recruitment of Job Applicants
Employee Selection

Chapter 16 – Human Resources Management: Training, Appraising, and Motivating Employee Performance
Orientation and Training
Motivating Performance

Chapter 17 – Compensation and Incentive Plans
Compensation Systems
Performance Based Pay Systems
Compensating the Real Estate Sales Force
Sales Quotas and Objectives
Sales Contests

Chapter 18 – Management and Leadership
Nature of Leadership
Sources of a Leader's Power and Influence
Leadership Effectiveness
Participative Leadership
Conflict Resolution in the Organization

Chapter 19 – Communication
Communication Processes and Problems
Employer-Employee Communication

Chapter 20 – Risk Management and Brokerage Operations
Risk Management
Enterprise Risk Management (ERM)
Risk Management and Specific Brokerage Operations
Proceeds of Crime (Money Laundering) and Terrorist Financing Obligations
Key Compliance Obligations under the PCMLTFA