Building engineers

assumes the duty of directing the business, health, investment, or general well-being of another based upon a fee for services, there is vested in such a person a high degree of confidence and trust. A fiduciary relationship exists between a broker and his client. This relationship embodies the trust or confidence placed with the broker on behalf of the principal.

A number of specialized professional groups are within the National Association of Realtors. These include the American Institute of Real Estate Appraisers, the Institute of Real Estate Management, the REALTORS National Marketing Institute, the American Society of Real estate Counsellors, the Farm and Land Institute, the Society of Industrial Realtors, the Real Estate Securities and Syndication Institute, the Women’s Council of Realtors, and the American Chapter of the International Real Estate Federation. Membership is open to Realtors who are interested in these specialties.

Another national real estate association is the National Association of Real Estate Brokers. It is composed predominantly (but not exclusively) of black brokers, and has more than 40 active local boards across the country. Members of this group have adopted the name “Realtist”.

All real estate offices require a policy manual – even if it is only “basic” in nature. During the course of a busy work day, several questions are asked repeatedly concerning some aspect of the business.

If the firm is expanding and there is an increase in new-hires, it is far more efficient for a company to provide copies of the policy manual rather than to have constant interruptions brought to the office of the broker-owner.

A well-planned policy manual helps to determine the profit margin of the company by allowing the staff to seek out the answers to the most common areas of the business through the policy manual.

The main emphasis of the manual should focus on what the sales force is expected to do, how they will perform and meet objectives and what rewards are to be expected. From an administrative point of view, standards established for non-sales personnel or other employees should be interested as well.

All policy manuals in existence are hybrids from other manuals. As a general rule, most firms add to or delete from their own manual by borrowing ideas and concepts from other firms. One standard item

11

found in almost all manuals is a complete printed copy of the Code of Ethics established by the National Association of Realtors.

There are two basic functions of today’s property manager. Supervising the overall business operations on a daily basis (which includes the leasing, managing, marketing and overall maintenance of property owned by others) is the primary responsibility of the property manager. The second long-term duty is the obligation to the owner of the property, namely preserving or increasing the value of the invested property.

Property management is considered a specialty section of real estate. However, the need for professional managers is in great demand as more and more investors rely on the expertise of others to help manage their properties for them. Most investors or developers own more than one parcel of property. As a result, it is physically impossible to watch over all of the different properties at the same time. In fact, some of the properties owned may be located out-of-state. Finding the right property manager to assume responsibility of running the operation is essential to the profit center of the investment. Absentee ownership and the complexity of the business have contributed to the trend towards using professional property managers.

The definition of advertising can be described as the promotion of products and services using the public medium to reach consumers. The real estate industry, without a doubt, would be hard pressed to generate future business with consumer without the productive use of effective advertising.

There are a multitude of factors involved in creating advertising that induces the sale of real property. The most important factor is creating a stimulus which will capture the interest of the reader (or listener) in spite of all the thousand and one activities revolving around the consumer on a daily basis. This stimulus must initiate enough interest for the consumer to generate a call to action.

Having a potential buyer or seller make that first call to your office is the first step in a series of steps which leads to closed sales and commissions and profits for you and your firm.

The best way to create effective real estate advertising is to understand first the particulars of residential and commercial sales markets. Second, the broker must be familiar with how buyers and sellers interact within the marketplace. Third, the broker needs to be understanding of the needs of his or her clients. Finally, the broker must perform all fac-

12

ets of the interaction between the firm and the clients in the most professional manner possible.

Advertising is a very important aspect of the real estate brokerage business, and indeed, can be said to be its lifeblood. Effective advertising will attract attention to the brokerage operation, arouse the interest of the public to utilize the services offered by the brokerage, create the desire to purchase the listed properties, and stimulate positive action in the direction of consummating a sale and purchase [5].

4.Answer the following questions.

1.Why had the voluntary associations been founded?

2.What kind of organization is National Association of Realtors?

3.What does the term “Realtor” mean?

4.What is a Code of Ethics?

5.Who is a “Realtist”?

6.All real estate offices require a policy manual, don’t they?

7.What helps to determine the profit margin of the company?

8.What should the main emphasis of the manual focus on?

9.Policy manuals in existence are hybrids from other manuals, are not they?

10.What are the basic functions of today’s property manager?

11.What is property management considered?

12.What are the main duties of a property manager?

13.Why is the effective advertising necessary for the real estate

industry?

14.What are the ways to create the effective advertising of real es-

tate?

15.What is necessary for the real estate brokerage business?

5.Decide whether the following statements are True (T)

or False (F).

1. Advertising in the real estate industry is the promotion of products and services using the public medium to reach consumers.

2.Voluntary associations were first organized to eliminate activities which were detrimental to the general public.

3.Membership in these organizations is voluntary, but there are the definite restrictions for membership in these ones.

13

4.The National Association of Realtors consists of the people who belong to it in accordance with the certificates.

5.The term “realtor” is equal to the term “real estate agent”.

6.The relationship between a broker and his client is defined by a realtor.

7.The National Association of Realtors consists of a great number of sub-organizations.

8.A well-planned policy manual helps to determine the profit margin of the company by allowing the staff to seek out the answers to the most common areas of the business through the policy manual.

9. The main function of today’s property manager includes the leasing of property owned by others.

10. Advertising is a very important aspect of the real estate brokerage business.

6. Make the inferences on the basis of the information of the text.

14

SECTION II

Close Reading

Изучающее чтение

Задачей изучающего чтения является полное и точное понимание всей содержащейся в тексте информации. Это – вдумчивое и неспешное чтение, предполагающее целенаправленный анализ содержания текста [2].

UNIT I

1.Read and memorize the words.

1)commissioner – уполномоченный;

2)conduct – руководство, управление;

3)listing – перечень, список;

4)enforcement – принуждение, давление;

5)attorney – адвокат, доверенное лицо;

6)violator – нарушитель;

7)Real Estate Advisory Commission – комитет по осуществле-

нию операций с недвижимостью;

8)accusation – обвинение, обвинительный акт;

9)fraud – обман, мошенничество;

10)to bind – обязывать, связывать.

2.Read the text and answer the question: Is there a post of Real Estate Commissioner in our country?

Real Estate Commissioner

The California Department of Real Estate is headed by the Real Estate Commissioner, who is appointed by the governor. The Commissioner is responsible for determining administrative policies, enforcing the California real estate law, and regulating certain real estate syndicates, real property securities transactions, subdivisions, and licensing procedures. The Commissioner has issued a regulation, called the Code of Ethics and professional Conduct, which is binding upon all licensees. The Code of Ethics does not permit “pocket listings.” (A pocket listing occurs when a licensee takes a listing on a property, but keeps it a secret, so that no other licensee can earn any part of the commission. This

15

practice harms the seller because it restricts the number of licensees who are looking for buyers for the property.)

The enforcement of real estate law in California is very much divided. The Real Estate Commissioner has the sole authority to issue, restrict, suspend, and revoke all licenses. While the Commissioner can also fine a licensee, the Commissioner cannot award monetary damages to an injured party. Only the courts can do this. The Commissioner cannot prosecute a licensee for any violation of the law. The district attorney would prosecute the violator. Notice that the court system can award monetary damages and put someone in jail, but only the Commissioner can take action against a person’s license.

The Real Estate Commissioner also heads the Real Estate Advisory Commission, which is a group of ten advisors, appointed by the Commissioner to assist him or her. Six of the members must be licensed brokers, and the group must be geographically representative, with no more than three members from any one county.

When a formal complaint is filed against a licensee, the Real Estate Commissioner investigates. A hearing may be held under the Administrative Procedures Act (which is found in the Government Code), after an accusation has been served upon the licensee. Action, in general, must be filed within three years of the act (longer limits are permitted in some cases for fraud, misrepresentation or false promise) [5].

3.Decide whether the following statements are True (T) or False (F).

1. The Real Estate Commissioner is appointed by the Head of the State.

2.The Commissioner is not responsible for buying and selling the property.

3.The Regulations which have been issued by the Commissioner does not permit “pocket licensees”.

4.The Real Estate Commissioner has the authority to suspend and revoke all licenses.

5.The Commissioner has to award monetary damages to an injured

party.

6.The Real Estate Advisory Commission is headed by the Governor.

7.The Real Estate Advisory Commission consists of ten advisors.

8.Six of the Advisory Commission members must be licensed spe-

cialists.

16

9.The Real Estate Commissioner investigates a formal complaint when it is filed against a licensee.

10.A hearing may be held under the Administrative Procedures Act, after an accusation has been served upon the licensee.

4. Choose the right variant.

The provisions of the California Real Estate Law are contained in:

a)The Civil Code;

b)The Business and Professions Code;

c)The Administrative Procedures Act;

d)None of the above.

In California, the Real Estate Commissioner has been given the authority to:

a)the benefit of victims, assess damages against licensees that engage in fraudulent activity;

b)promulgate reasonable rules and regulations for the enforcement of the real estate law;

c)issue non-resident licenses to residents of states that do not allow their citizens to hold a California license;

d)all of the above.

The Real Estate Commissioner is allowed to adopt regulations for the administration and enforcement of the Real Estate Law. Duly adopted regulations:

a)Have the same effect as the Real Estate Law;

b)Become part of the California Administrative Code;

c)Both “A” and “B”;

d)None of the above.

UNIT II

1.Read and memorize the words.

1)to inspire – вдохновлять;

2)manor – поместье;

3)mason – каменщик;

4)wrought – обрабатывать, отделывать;

5)railing – ограда, перила;

17

6)blacksmith – кузнец;

7)stucco – штукатурка, штукатурить;

8)to ascend – подниматься, возноситься;

9)courtyard – двор;

10)to renovate – поправлять, освежать.

2.Read the text, find the sentences where the rules of sequence of tenses are used and translate them into Russian.

3.Read the text and name the facts which you consider to be very important. Prove your opinion.

Turebyholm

The main building at Turebyholm is an unusually well-preserved rococo building of an exceptional architectural quality. It was built in 1754 for Frederik V’s Lord Steward, Adam Gottlob Moltke who spent his summers at Bregentved 10 kilometers away. Turebyholm is a 350 square meter summer residence, where Moltke could drink tea with the King when he visited the area. The architect was Nicolai Eigtved, who also designed Moltke’s Palace in Copenhagen, the finest of the four palaces on the present Amalienborg Square. The Grand Hall there inspired that at Turebyholm as a garden room in a rural manor. Not only are the two buildings created by the same client and architect, many of the same craftsmen and artists worked at both sites. The royal stonemason, Fortling did the two sweeping garden stairways, and the master smithy Swartz was responsible for the refined wrought iron railings. Swartz, who had financial problems in the city, was given a house with a blacksmith workshop (the present gardener’s residence), because Moltke was worried that the talented craftsman might leave the country. The Royal decorator Zollner was responsible for the wall coverings, and Italian stucco workers did the plaster work. Originally, the main building was built together with two long side wings, which formed a paved courtyard in front of the building. Today the side wings are gone and the long white main building lies free in the park. Thus the very narrow building depth is visible – previously it must have been somewhat of a surprise to ascend the stairway from the courtyard and enter the garden room, which spanned the modest depth of the building. The mirrors on the walls in the garden room dissolve the space in windows and light

18

reflections. There is an ethereal ambiance in the garden room – refined and weightless.

The hand-painted silk tapestries were imported from China and set up in one of the smaller rooms or cabinets, where they become part of the exquisite whole with the large paintings of Frederik V and his queen. Two other cabinets are decorated with painted wall canvases of romantic landscapes with ruins and pastoral scenes. The rooms appear as lined chests. The building has been vacant for more than half of its existence. The woodwork has only been painted twice during these 250 years! It was decided to try to preserve the patina during the restoration. The woodwork was not painted, but merely cleaned and retouched by skilled local painters. The building has been treated in much the same way as one would an old piece of furniture.

The goal has been to carry out a restoration that is not visible. The building is so exceptional in itself that it cannot be “improved”. It should only be renovated and equipped with current comfort and security measures [3].

4.Translate the following questions. Retell the text using the answers.

1.What is Turebyholm?

2.When was the main building at Turebyholm built?

3.What can you say about the architecture quality of the building?

4.Who was an architect of this summer residence?

5.What talented craftsmen and artists were responsible for the structure?

6.Can you describe the original structure of the summer residence at Turebyholm?

7.In what way were the rooms and cabinets decorated?

8.Do you think the main building should be “improved”?

9.What was the goal of restoration?

10.How should the building be renovated?

19