Real Estate Principles

Real Estate License Course Details

Real Estate Principles

Course Description

This comprehensive real estate Pre-license course begins with an overview of the California real estate market and the characteristics of land, real estate, real property, and personal property, as well as property ownership, estates in land, and ownership transfer. We explore agency relationships, fiduciary duties, listing agreements, real estate contracts, and leasing. Escrow, deed, title, and real estate financing are also discussed.

This course then examines real estate appraisals, real estate markets, value principles, land use controls, environmental issues, and property taxation. A module covering California real estate license law is also included. The closing module demonstrates how to perform common real estate calculations.

The course includes information obtained from the California Department of Real Estate, California Association of REALTORS® which is where the forms were obtained; the National Association of REALTORS® and information was obtained on the CalVet program from the California Department of Veterans Affairs. We have used the content references from websites including www.dre.ca.gov; www.car.org; www.nar.realtor; www.calvet.ca.gov  and others.

Learning Objectives

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

  • Describe the difference between land, real estate, and real property.
  • Recognize the difference between real property and personal property.
  • Outline the basic features of the metes and bounds survey method.
  • Identify and summarize the different estates in land
  • Discuss the various types of alienation
  • Differentiate between title and deed
  • Describe encumbrances, encroachments, and easements
  • Recall types of liens
  • Describe real estate agency relationships
  • Recognize the fiduciary duties the agent owes to the client
  • Describe the different types of listings
  • List the required elements of a valid contract
  • Summarize the contract classifications
  • List the common terms and conditions found in sales contracts
  • Summarize the types of leasehold estates
  • Explain eviction processes
  • List the provisions commonly found in lease agreements
  • Identify the duties of landlords and tenants under the Uniform Residential Landlord and Tenant Act
  • Describe the types of leases used
  • Describe escrow accounts and what they contain
  • Identify the documents that make up a property's title history
  • Describe the elements and processes involved in title searches and title insurance
  • Describe promissory notes
  • Define amortization
  • Discuss loan payments
  • Explain how simple interest and amortization work
  • Summarize different types of loans
  • Discuss the economic indicators and market characteristics of the residential real estate market
  • Explain how lenders qualify a borrower for a real estate loan
  • Identify and explain the fundamental concepts and terminology used in real estate valuation and appraisal.
  • Recognize the valuation principles used in real estate appraisal.
  • Apply value theories to arrive at purchase prices of real estate.
  • Discuss the purpose for planning and zoning.
  • Describe the types of zones that might be established by local ordinances
  • Explain the purpose of the federal fair housing laws and identify the protected classes covered by the Fair Housing Act.
  • Name the seven activities considered illegal under the fair housing laws.
  • Be familiar with the concepts of discrimination/implicit and explicit bias.
  • Identify taxing entities
  • Describe ad valorem taxation
  • Summarize the major provisions of CA license law
  • Use equations to calculate interest.
  • Explain amortization.
  • Apply the principles of prorating

Topics Covered

Lesson 1: Introduction to Real Estate

Lesson 2: Real Estate in California

Lesson 3: Estates, Transfers, and Titles

Lesson 4: Encumbrances

Lesson 5: Agency and Its Responsibilities

Lesson 6: Contracts

Lesson 7: Leasing

Lesson 8: Escrows and Title Insurance

Lesson 9: Real Estate Finance, Part 1

Lesson 10: Real Estate Finance, Part 2

Lesson 11: Appraisal

Lesson 12: Subdivisions and Government Control

Lesson 13: Taxation of Real Estate

Lesson 14: California Real Estate License Law

Lesson 15: Real Estate Math, Part 1

Lesson 16: Real Estate Math, Part 2

Final Exam

 



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