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| an annual reminder letter sent to former clients |
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| is the length of time between repeat purchases of a product. for example, repeat purchase cycle for laundry detergent may be every 2 weeks. The repurchase cycle for residential real estate is usually measured in years. |
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| is the real estate agent within a brokerage assigned to handle walkins on a specific day and time. |
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| broadband internet access |
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Definition
| is very speedy internet connections that can quickly transfer large amounts of information. 2 common sources of broadband access are cable internet connections and DSL connections through a phone line. |
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| are preset, written questions used to prompt the agent on call to record the most important client information. |
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| are a personal contact with a potential client initiated by the real estate agent |
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| dial up internet connection |
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| are a form of internet connection allowing only slow transmission of information to the internet |
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| are electronic documents such as a pdf file or word document attached to an email. |
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| is time spent interacting with current and potential clients in person. Face time is the real estate agents most effective and persuasive communication tool |
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| are phone calls made by others to you or your agency |
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| is the computer connection to the internet. Also used for email. dial up and broadband are the 2 common categories of internet access. |
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| is when one person does a majority of the talking and drives the conversation. |
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| are phone calls placed by you to others |
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| is when 2 people repeatedly leave messages for the other to call because they dont connect. |
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| is converting written documents into electronic files |
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| is a machine enabling you to convert written documents into electronic files |
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| information added to the end of an email. Usually includes contact information such as phone number, fax number, mailing address and email address. |
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| are conversations where both participants are actively involved. |
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| the cost of gifts given to customers or people who help your real estate sales activities. You cannot deduct more than $25 for business gifts given to any one person during the tax year |
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| business related parking fees or tolls |
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Definition
| all tax deductible parking and toll fees paid during business trips. These expenses can be deducted in addition to taking the standard milage rate. Parking fees to park at your place of work and tolls to get from home to our primary place of work are NOT tax deductible. |
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| calculating actual expenses |
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| the actual allowable expenses incurred for the use of a vehicle for business purposes. Can be used in place of the standard milage rate method. |
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| expenses for entertainment of clients and others helping your real estate business that are considered tax deductible by the IRS. You can generally only deduct 50% of the cost of allowable entertainment expenses. |
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Term
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Definition
| calculating all allowable expenses under IRS rules and deducting them from your taxable income. Requires considerably more paperwork and record keeping than taking the standard deduction. |
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| personal property taxes on your business vehicle |
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| state and local taxes assessed on the value of your business vehicle. Also known as the car tax. |
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| tax on earnings from self employment greater than $400. Real estate agents are required to pay self-employment tax on their commissions. |
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| the deduction you can take to reduce your taxable income if you do not itemize your expenses. You cannot take the standard deduction and also itemize. |
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| one of 2 methods used to calculate the tax deductible expense for the use of a vehicle during real estate selling activities. The tax deductible mileage is totaled and the multiplied by cost per mile the IRS is allowing that tax year, |
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| is the mileage that can be counted as business usage of your motor vehicle. Examples include miles driven visiting clients or customers, going to a business meeting away from your regular workplace, and getting from one workplace to another. |
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| getting more productivity out of your selling activities. |
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