Principles of Real Estate I-RPS - 121

Real Estate License Course Details

Course Description    

This course covers the topics required by the Texas Real Estate Commission (TREC) for the core course Principles of Real Estate I, which includes information for the national portion of pre-licensing preparation (those areas which are common to all states), as well as many aspects of the topic that are specific to Texas.

You will learn:
•    Basic real estate principles and an introduction to real estate law,
•    The important aspects of real estate licensing requirements,
•    Distinctions between personal and real property,
•    Titles to and conveyance of real estate,
•    Ethics of practice as a license holder,
•    Federal, state, and local fair housing laws,
•    The content of the Texas Real Estate License Act,
•    Legal descriptions,
•    Important elements of real estate contracts,
•    How various interests in real estate are defined (including deeds, encumbrances, and liens),
•    How titles to real estate are held and conveyed,
•    and the ethical standards you are expected to meet as a license holder.

You are required to complete the reading assignments as well as quizzes, exams, and exercises.

Outline (Course Objectives and List of Lesson Titles)

Lesson 1: Lesson 1: Introduction to Modern Real Estate Practice
Lesson 2: Real Property
Lesson 3: Concepts and Responsibilities of Home Ownership
Lesson 4: Real Estate Brokerage and Law of Agency
Lesson 5: Fair Housing Laws
Lesson 6: Ethics of Practice as a License Holder
Lesson 7: Texas Real Estate License Act
Lesson 8: Legal Descriptions
Lesson 9: Real Estate Contracts
Lesson 10: Interest in Real Estate
Lesson 11: How Home Ownership is Held
Lesson 12: Listing Agreement

Course Learning Objectives:

Upon completion of this course, you will be able to:

•    Summarize some important aspects of real estate law.
•    Identify real estate licensing requirements and what a licensee can and cannot do.
•    Define real estate/real property and distinguish those terms from personal property.
•    List some benefits of home ownership and tax benefits for homeowners.
•    Explain mortgage payments, the clue report, flood insurance and the concepts of co-ops and condos.
•    Identify important aspects of agency law, disclosure issues relative to agency and the nature of the brokerage business.
•    Define the DTPA and fiduciary duties.
•    Explain fair housing laws both nationally and as enacted in Texas, including housing and housing credit discrimination and community reinvestment.
•    Summarize the canons of professional ethics.
•    List important aspects of the Texas real estate license act, including prohibited practices and disciplinary proceedings and penalties.
•    Explain the types of land descriptions used in the United States.
•    List various aspects of contract law and contracts utilized in the real estate business.
•    Define various estates in land, including homestead rights and identification of various types of tax and other liens.
•    Summarize various forms of ownership.
•    Explain how property is listed, including types of listings and the required disclosures and notices.
•    Students should make certain they read and review all of the information presented.