This practical guide offers an applications-oriented approach to becoming more effective managers, leaders, and communicators. The most comprehensive real estate brokerage title available, this new edition reflects innovation, most apparent in digital media and all the associated tactics and risks (including Internet security and identity theft), and the influence of generational diversity in contemporary business practices. The guide also highlights new trends in professional development, including formal mentoring and cross-training programs, and developments in civil procedures, including RESPA, antitrust, and employment law issues. Contents: Introduction - The Challenge of Change - Leadership - Management Skills - Communications and Decision Making - Analyzing the Business Environment - Analyzing the Market - Developing a Plan - Structuring the Organization - Structuring Business Systems - Structuring the Finances - Business Policies and Procedures - Marketing and Advertising - The Practical and Legal Realities of Staffing - Recruiting, Selecting, and Hiring the Staff - Professional Development - Coaching Performance - Critiquing Operations - Managing Risk - Final Thoughts - Glossary - Index