At Federa, we understand the importance of clear and effective communication. This is why we have created the "Federa's Comprehensive Terminology Guide", a dedicated resource designed to provide clarity around key terms, acronyms, and phrases used within our organization.
Cost of Revenue
Cost of revenue primarily consists of payment processing charges, including merchant fees and chargebacks, costs associated with third-party data centers used to host the Company’s platform, and amortization of internally developed software and acquired technology.
Operations and Support
Operations and support costs primarily consist of personnel-related expenses and third-party service provider fees associated with customer support provided via phone, email, and chat to clients and partners, customer relations costs, which include refunds and credits related to customer satisfaction and expenses associated with the Company’s client protection programs, and allocated costs for facilities and information technology. These costs are expensed as incurred.
Product Development
Product development costs primarily consist of personnel-related expenses and third-party service provider fees incurred in connection with the development of the Company’s platform and new products as well as the improvement of existing products, and allocated costs for facilities and information technology. These costs are expensed as incurred.
Sales and Marketing
Sales and marketing costs primarily consist of performance and brand marketing, personnel-related expenses, including those related to field operations, portions of referral incentives and coupons, policy and communications, and allocated costs for facilities and information technology. These costs are expensed as incurred. Advertising expenses, which comprise the majority of performance marketing.
General and Administrative
General and administrative costs primarily consist of personnel-related expenses for executive management and administrative functions, including finance and accounting, legal, and human resources, as well as general corporate and director and officer insurance. General and administrative costs also include certain professional services fees, allocated costs for facilities and information technology expenses.
DRI
In the context of Federa, DRI refers to the individual who holds the ultimate responsibility for a specific task, project, or decision. The DRI is the single point of contact regarding any updates, issues, or inquiries about the task or project. While teamwork and collaboration are encouraged at Federa, the DRI serves to streamline communication and maintain accountability for the successful completion of the initiative.
Agent
An Agent at Federa is an individual professionally licensed to carry out real estate transactions within their state of licensure.
Broker
A Broker at Federa is an individual who holds an advanced state license. Despite their advanced licensure, a Broker at Federa does not necessarily manage transactions or supervise other agents.
Associate Broker
An Associate Broker at Federa, like a Broker, holds an advanced state license. Their elevated licensure does not inherently entail transaction management or agent supervision responsibilities within our company.
Broker in Charge
At Federa, a Broker in Charge also holds an advanced state license. Their role does not automatically involve overseeing transactions or managing other Federa agents.
Principal Broker
A Principal Broker at Federa bears the responsibility for a specific territory, often equivalent to a state. As the final authority within their territory, a Principal Broker oversees Federa's licensed activities within their assigned state.
Designated Broker (Managing Broker)
This role is unique to Federa. A Designated Broker is appointed by the Principal Broker and is responsible for managing Partners and their transactions within the state they operate. Only a broker appointed by a Principal Broker holds this designation within Federa.
Brokerage:
Federa, as a brokerage, refers to our collective firm, encompassing all Agents, Brokers, Associate Brokers, Brokers in Charge, Principal Brokers, and Designated Brokers working together to facilitate successful real estate transactions.