...Debra Fowler-Mills Soc.120 Real Estate/Property Management Instructor: Richard Abshier August 26, 2012 Rental Apartments and Homes, Management In apartment and housing rentals the management and staff deal with all kinds of people from vendors, contractors, tenants, and possible tenants. The management and staff must conduct themselves in an ethical manner. As in life sometimes, have to bite our tongues, as not to offend anyone, you should also remember that any information obtained is private should be kept private. Never give this information to another tenant or client. Your integrity and the company that you work for is very important. putting the ethics and integrity at risk could cause you to lose your job or even be sued by the person who`s information you talked about or gave out. Making sure that the property is safe for all to live in, and is a safe hazard, free environment for a family to live. Remembering to continue getting education on new ways of providing correct information and knowing what to do in different circumstances. Like all things in life we have ethics and values that we should follow. When working in Property Management you have all kinds of people you must deal with. Conducting the day to day business brings many challenges that we must make choices, Making the ethical choice is easy when you follow the Code of Ethics of the Accredited management organization (AMO). (Symmonds 2012). There are so many areas to cover in Rental apartments...
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...On April 2013, I began my career as a Real Estate Sales Representative at, “Cityscape Realty Ltd”. This brokerage is built on a unique concept of a one-stop shop for its clients and agent; where they provide a wide range of real estate services and professionals under one roof. Cityscape has two beautifully designed locations in both downtowns of, Mississauga and Toronto, Ontario. Both offices provide similar services but since I wanted to concentrate in the Brampton and Mississauga area, I decided to join their Mississauga branch, located on 25 Watline Avenue. Cityscape, with its combined locations employed over 100 staff members, including the managers and the broker of record. However, this paper will focus on the Mississauga location. A Broker of Record carries every Brokerage. This person leads every brokerage and acts as the owner of the organization. Our broker of record is Mr. Neel Surendran, who is well experienced in his field of expertise, and is also one out of the five individuals, to hold a commercial specialist license in the Greater Toronto Area. There are two managers within our firm, Marina, and Adnan. Marina is responsible for the day-to-day activities at the office and Adnan continuously stays connected to bring in more valuable projects for the brokerage. I have been employed with the brokerage for about a year and a half and within that time, Adnan has brought over ten different pre-constructed projects, which eight of them resulted as the best deals...
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...Introduction Cruickshank, Garth & Romano (CGR) is a new real estate appraisal and consulting firm formed by Chris Cruickshank, Wayne Garth, and Richard Romano. The firm provides not only residential, industrial and commercial evaluations, but also consulting services and feasibility analyses in the National Capital Region (NCR). Richard and his two partners have worked for one of the four major NCR firms and are well known in the local real estate community. And recently, Richard has just completed a preliminary evaluation of a property for Watson & Musico, which is one of NCR’s major developers and property owners. However, John Mortimer from Watson & Musico is unsatisfied with the Richard’s evaluation price, he asks Richard to raise the value, otherwise they have no business. This situation is difficult for Richard, because he wants to satisfy John’s needs, but at the same time, he can’t ignore the ethical issue to do that. Stakeholders Richard Romano is a principal of CGR, and he is an Accredited Appraiser Canadian Institute (AACI) candidate. Richard has eight years of experience and is recognized as one of Canada’s leading real estate experts. He wants to complete the appraisal according to his best estimate of the current market value of the property, but he can’t afford losing business with Watson & Musico (WM) for not satisfying their needs. Success in project with WM will be a major boost to CGR, it is also Richard’s responsibility to keep his client’s interest ...
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...hand, Luke has a close brother that lives in the same neighborhood where the retail store is expecting. His brother Owen has been considering selling his house, where he has received an “okay” current real estate market price but still debating if it is a good idea. ISSUE In this situation, Luke is stuck between whether he should consider letting his brother Owen, know about the real estate market after his company plans to go public about the adult entertainment retail store, or should he keep it confidential. In this case, Luke has run into an ethical issue where he has a “conflict of interest” and a situation of “breach confidentiality.” Utilitarianism One approach Luke can consider basing his decision on is the utilitarian approach. The utilitarian view asks, “What preference does more good than harm to stakeholders?”(online lecture) According to the principle of utility, an ethical decision should maximize benefits to society and minimize harms (Trevino & Nelson, 40). Luke must make a decision considering the corresponding benefits and harms of his company and of his brother Owen. Discussing the confidential information with his brother will definitely affect his decision to sell his house right now versus waiting for a couple of years to see how the real estate market improves. At the same time, Luke has to consider the impact on the buyer who is willing to buy the house now. Likewise, if his brother sells the house now, what situation would the buyer be in...
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...Acknowledgement: Thanks to BMA Consulting for their consultation and development work. Version control: Version 1 ( updated October 2009 Contents Introduction 1 Assessment cover sheet 2 Competency mapping 3 Assessment plan 5 Evidence review 7 Observation of work project: Research estate agency operations 8 Part A: Research and interpret legislative, licensing and ethical compliance requirements 7 Part B: Research industry employment requirements 8 Part C: Present findings 9 Record of assessment of work project 11 Questions and key points 13 Develop knowledge of estate agency operations (Q1-Q6) 13 Interpret and comply with legislative and agency requirements (Q7-Q17) 14 Model ethical practice (Q18-Q22) 16 Identify industry employment requirements (Q23-Q28) 17 Third party evidence report 19 Record of assessment outcome 21 Introduction This assessment instrument covers the required performance outcomes described by the following unit of competency from the CPP07 Property Services Training Package: CPPDSM4080A Work in the real estate industry. The instrument provides assessors in the property development, sales and management sector with tools and templates to conduct a formal assessment process and to develop assessment records that meet Australian Quality Training Framework (AQTF) requirements for valid, reliable, fair and flexible evidence...
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...COUNTRYWIDE FINANCIAL: THE SUBPRIME MELTDOWN I. Problem Statement After buying out Countrywide Financial and resolving the issues against former CFO David Sambol and former CEO Angelo Mozilo, what should be the next steps that Bank of America must take to salvage Countrywide Financial from onslaught of criticisms and lawsuits that already arose and would potentially arise against it? II. Analyzing Case Data In the mid-2000, season where real estate prices were booming and confidence levels were high, even clients who could have qualified for regular loans chose to take out subprime loans to finance their real estates. Just like most businesses, Countrywide did everything to expand their profitability. They gave false assurance to home buyers. So, even consumers with good credit rating get attracted to these mortgages without fully recognizing the possible consequences. The construction industry also used flipping to expand its profit. Speculators also bought existing homes with no intension of keeping them, waiting until the value increases, and selling them at a profit. High demand also caused an increase of the cost of materials. Realtors, on the other hand, were motivated to push sales through because of commissions they could earn, pushing them to take much riskier transactions. Even real estate appraisers began to inflate the value of homes to ensure that loans would go through. Without being foreseen by anyone, US economy began to slow down. People started working...
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...notes and issues The Full Spectrum of Real Estate Risk Analysis1 by Gary P. Taylor, MAI, SRA, and William E. Endsley he full spectrum of real estate risk analysis begins with the traditional banking infrastructures needed to fund property development and economic growth. The spectrum extends to the newer securitization products and property rating systems being developed to accelerate growth in mature economies. This spectrum also includes developing economies, economies in crisis, and economies in transition. Without a plan to spread rational and transparent capital development to every area of the world, economic uncertainty and threats to security will spread instead. Most importantly, the real estate spectrum includes a diverse group of citizens, governments, civil societies, and corporations that share power, often in inequitable ways. This paper looks at the role of the independent real estate valuer in examining the current distribution of the wavelengths that make up the continuum of real estate and capital markets. It examines the strands that make up this spectrum and offers suggestions for strengthening these individual strands and thereby amplifying the whole. Independent, ethical, and informed real estate valuers must analyze the full spectrum of real estate risks to protect the assets of a global public and help ensure an equitable sharing of economic power in the future. Spectrum Analyzers “Common spectrum analyzer measurements include frequency, power...
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...Compared with other businesses, give examples with explanation about what type of copyright issues will uniquely arise from the business you are assigned. One such issue could be the need for real estate agents to have pictures of a client’s house especially in the event or repairs needing to be done. In most cases this situation is covered by the company’s specific copyright policy informing clients that all contributions towards the company (including pictures) is also giving implicit acceptance of the real estate’s right to use copyrighted material. Create a copyright policy with a minimum of five statements to be used for the business that you are assigned. 1.) Use Of Copy Right Materials Our company grants visitors to the site permission to download copyright material only for private and non-commercial purposes. Use of copyrighted material for any...
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...cu MOVEIN BUSINESS INTELLIGENCE AND ANALYTICS REPORT me nt ap A Business Plan on the Role of Business Intelligence and Analytics for MoveIn Pty Ltd Th ink sw Do TABLE OF CONTENTS Executive Summary ........................................................................................................................ 2 1 -‐ Introduction .............................................................................................................................. 3 2 -‐ Role of Business Intelligence ..................................................................................................... 3 2.1 -‐ Business Intelligence -‐ Overview ............................................................................................... 3 2.2 -‐ Business Intelligence Tools ........................................................................................................ 4 2.2.1 -‐ On-‐line Analytical Processing .............................................................................................. 4 2.2.2 -‐ Data Mining ........................................................................................................................ 5 ...
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...Workplace Ethical Dilemma Workplace Ethical Dilemma Melany Ahlemeyer BSHS 332 December 17, 2012 Kathleen Roberts Workplace Ethical Dilemma This paper will provide information of a workplace ethical dilemma that I have experienced on a personal level or am familiar with. The essential points of the dilemma will be covered along with how this dilemma intersects with my personal values. How the dilemma was or would have been solved with an explanation of why I chose this solution will be included. “Ethics as a discipline refers to both the study of our values and their justification, the actual values and standards of conduct by which we live” (Freeman, 2000, p. 31). “Ethical dilemma is a complex situation that will involve conflicts between moral imperatives” (Freeman, 2000). A few years ago I worked for a timeshare organization operating out of Florida at one of their resort locations in Arizona as a sales agent. This was the first time I had ever worked in the timeshare industry and had been in the real estate industry for 12 years working under a code of ethics through the National Board of Realtors. I was not very familiar with the ethics in timeshare and assumed that the ethics were similar to residential real estate. Within a few weeks of working there I realized that the ethics were very different and, I had many issues regarding whether I should remain there. Management would state that the salesperson should not make inaccurate statements to the client to create...
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...that culture is an important thing in China. Dan Mintz believes that guanxi and guanxiwang are important because they help companies get around restrictions that limit the ability of companies to function. Companies that fail to adapt will probably find it more difficult to be successful and companies that do follow all the rules are likely to be at a competitive disadvantage. As an entrepreneur who is starting up a business or penetrating into a new market, making full use of given resources is essential to overcome difficulties and to be successful. Every business has some sort of obstacles and the story of DMG in Shanghai tells us sticking to strict rules and regulations is less likely to leap over the obstacles. 3.What are the ethical issues that might arise when drawing upon guanxiwang to get things done in China? What does this suggest about the limits of using guanxiwang for Western business committed to high...
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...speak with the bank about the account, and cannot access it online without assistance from the mortgage holder. While they are paying on the mortgage, they are paying off the balance but the equity they are building belongs to the mortgage holder and there is no guarantee they will ever get it back, even in part. From the viewpoint of the homeowner, they get an increased opportunity to sell their home in a difficult market. However they have the additional responsibility of keeping tabs on the mortgage, which will remain in their name until the new buyers refinance. The situation is not ideal for either party, and in our case and I suspect many other both parties are looking to move immediately. In this situation, the homeowner and real estate agent have found a way around the traditional lease-to-own contract that allows them to keep complete control of the mortgage until the renter (myself and my wife) are able to pay off the...
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... This study emphasizes on understanding how real estate agents performance is influenced by their emotional behavior or psychological range. The things that realtors consider rewarding to them are likely a reflection or connection of their emotional behavior. Bossidy and Charan (2002) pointed out...
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...Workplace Ethical Dilemma Melany Ahlemeyer BSHS 332 December 17, 2012 Kathleen Roberts Workplace Ethical Dilemma This paper will provide information of a workplace ethical dilemma that I have experienced on a personal level or am familiar with. The essential points of the dilemma will be covered along with how this dilemma intersects with my personal values. How the dilemma was or would have been solved with an explanation of why I chose this solution will be included. “Ethics as a discipline refers to both the study of our values and their justification, the actual values and standards of conduct by which we live” (Freeman, 2000, p. 31). “Ethical dilemma is a complex situation that will involve conflicts between moral imperatives” (Freeman, 2000). A few years ago I worked for a timeshare organization operating out of Florida at one of their resort locations in Arizona as a sales agent. This was the first time I had ever worked in the timeshare industry and had been in the real estate industry for 12 years working under a code of ethics through the National Board of Realtors. I was not very familiar with the ethics in timeshare and assumed that the ethics were similar to residential real estate. Within a few weeks of working there I realized that the ethics were very different and, I had many issues regarding whether I should remain there. Management would...
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...if that was agreement stated in the contract and if Brown knew that Kelly’s main goal was to eventually regain possession of his 20-foot strip of land. However, if Kelly and Brown just orally agreed that the 20-foot strip would be reconveyed to Kelly than Kelly is not entitled to get his 20-foot strip back because it was a sale of real estate and it needed to be in writing. All contracts to sell land, buildings, or interests in land must be evidenced by a writing. The ethical issue is that Brown knew that Kelly wanted his 30-foot strip back but he doesn’t legally have to give it back to him because it was written down in their contract although they orally agreed to it. Brown is unethical for not giving Kelly’s 20-foot strip back. But, Kelly might be able to get his land back because this is an issue involving promissory estoppel and Kelly relied on the promise made by Brown in order to validate his decision to sell to Brown under the terms defined in the written contract....
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