About

This course provides an introduction to real estate finance. From qualifying the borrower and qualifying the property in the underwriting process to various types of financing, closing the sale, the Community Reinvestment Act and more, we discuss the monetary systems that control the market, delve into supply and demand, cover housing agencies, and discuss the government influence on real estate.

Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Making real estate loans carries a certain amount of risk for lenders; for this reason, lenders must have a firm grasp of a borrower's financial qualifications. Lenders consider a borrower's income, credit, debt, source of funds, and net worth. However, no analysis, no matter how thorough, of a borrower's creditworthiness, can be enough to ensure that a loan is completely free of risk.

You will learn the methods used by lenders to qualify loan applicants and how lenders qualify the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth so that you will feel confident and familiar with them when you meet them in the real world.

The basics of the financing and the sale process are discussed over two lessons. You will learn how title (abstract ownership rights to the property) is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits.

In another lesson, the focus turns to closing. You will learn the customary costs involved in a real estate transaction, how certain items are prorated between the buyer and the seller and the requirements set forth by the Real Estate Settlement Procedures Act (RESPA).

This course also covers foreclosure. We consider what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed and sold at auction and how the creditors are repaid.

No real estate finance course would be complete without discussing the types of mortgages available. We have two lessons that will detail the elements of conventional loans, both conforming and nonconforming; adjustable rate; graduated payment; growth equity; and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized so that you may better understand the decision-making process inherent in real estate finance.

Two specific types of financing, FHA-insured and VA-guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry a monthly insurance premium that cannot be canceled. VA loans are guaranteed in part by the government, but are available only to veterans, active servicemen, and certain National Guard members and special reservists.

The final lesson deals with a topic important to real estate investment: Internal Revenue Code (IRC) Section 1031 exchanges (a k a 1031s). Buying and selling real estate investments can be a tax-heavy business. By "exchanging" their investments under the continuity of investment principle, investors can receive more financing and improve their portfolios.

At the end of each lesson, you will be required to complete a quiz for that lesson before moving on to the next lesson. The course ends with a real-world practice lesson that brings together the concepts and material discussed throughout the entire course.

About

Real estate transactions permit and require more negotiation than most other exchanges of goods and services, and, as a result, much of a real estate salesperson's job involves trying to craft mutually acceptable deals for the various parties involved in them. Additionally, salespersons must not only negotiate with those with which they wish to gain some advantage or another, but also sometimes with their own clients. Because real estate practice involves so much negotiating, virtually any salesperson can benefit from improving his or her negotiation skills, and this course is designed to teach just such methods of improvement.

About

Establishing your career as a real estate brokerage requires extensive knowledge of the real estate industry. Brokers are required to stay updated with real estate trends and outlooks. They are also required to have the necessary qualifications and experience to run their own business. If you're looking forward to starting your own brokerage business, then you need to arm yourself with crucial information on how a brokerage business works.

This course will attempt to help learners understand the process of establishing their own brokerage business starting from understanding the pros and cons of starting a business, to choosing a business type, to managing financials, operations, administration, marketing and finally maintaining sustainability. The course caters to learners trying to establish their brokerage business in Texas and so TREC rules about brokers, ethical practices, marketing, hiring and business management is provided in the course for the learner to know and understand.

About

All Texas real estate transactions are formalized using a standard suite of contracts known as the Promulgated Forms, and it is a core role of the real estate salesperson to guide their clients through the proper use of these forms to a successful and legally binding conclusion.

This course covers all of the standard forms and contracts that may be required during a Texas real estate transaction. Upon completion of the course, students will understand the purpose, role and background of each form, be able to select appropriate forms to meet the requirements of a particular transaction and show competence in completing the forms correctly.

This 30-hour course forms part of the mandatory education towards licensure as a real estate salesperson in Texas, as required by the Texas Real Estate Commission (TREC).

Only members can use Texas Association of REALTOR® forms.

An owner that is exempt from the Fair Housing Act may still be liable for racial discrimination under the Civil Rights Act of 1866. There are no exceptions under that act.

The fair lending laws require lenders to not discriminate against all of the same protected classes as the Fair Housing Act (race, color, national origin, religion, sex, familial status or handicap) plus age, marital status, and receipt of public income.

About

Our daily lives can involve a variety of agency relationships. When you ask your physician to communicate information to the pharmacy to fill a prescription, you are authorizing the physician to act as an agent of sorts to fulfill a specific task for you. If you hire a professional real estate person to market your home, or find you a new home, or find you a new office space, or you retain an auto broker to locate a replacement car or truck, or contract with an art dealer to find works by a specific artist, or employ a private detective to track down a long-lost relative, or you deliver some inherited furniture to an antique dealer for sale on consignment at a specific minimum price, you are participating in an agency relationship. All of these examples involve a contract, either verbal or written. It is that contract that creates the agency relationship.

No matter what the rules, statutes or practices that may become involved, at its core, an agency relationship is a contract between two parties:

1. the person that is delegating authority (the Principal) and
2. the person that is being given the authority (the Agent).
   
   

The more substantial the proposed relationship and/or contemplated transactions become, the more complex the principal–agent relationship and the rules surrounding it can become. New laws, court cases, experiences in day-to-day business and new ways of doing business can complicate and add new layers of responsibilities and duties to the relationship. Nevertheless, at the core, an agency relationship is still that contract between the Principal and the Agent.

The purpose of this course is to better acquaint the leaner with the various types of agency relationships that can exist, and to build an understanding of the scope and the limits of agency in general and of the rules as they relate to the practice of the real estate profession.

This course contains numerous opportunities for interaction. You will be expected to complete each exercise, quiz, reading assignment, and exam in this course.

About

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.

If the seller is aware that the fence surrounding his listed property extends beyond the designated property boundaries and that this may lead to problems with the owners of the adjoining property, then he needs to inform potential buyers of this fact as it would probably be difficult for a buyer to discover alone. The agent must disclose this information to the prospective buyer; otherwise, the agent is intentionally concealing important information that could very likely impact the third party’s decision.

YES. According to Section 1101.351 (b) of the Real Estate License Act, no individual may sell, lease, advertise or exchange real estate services without an active license. If the licensee is a salesperson, then he or she may only sell, lease, advertise, or exchange real estate while acting under his or her sponsoring broker. If that sponsoring broker’s license status is ”inactive,” then all agents must stop providing real estate services until the broker renews his license.

A lender may not ask if an applicant is divorced or widowed, but may ask if a borrower is married, unmarried or separated.
The lender may not ask about the receipt of alimony or child support unless the borrower intends to use that money to qualify for the loan, but may ask if a borrower must pay alimony or child support.
A lender may not ask about a borrower’s birth control or intentions for child- bearing.
A lender may not ask about a borrower’s spouse unless that person will be involved in the contract.
A lender may not discount or exclude any income because of the source of that income.
A lender must report credit information on married couples separately in the name of each spouse.
A lender may not ask about the applicant’s race or national origin.

Blockbusting
 

Steering

Redlining

Redlining

About

Real estate transactions involve a complex set of laws, regulations, and requirements. Even though the licensee will not be practicing law, it is important to know and understand how contract law, both in general and with respect to Texas in particular, impacts the ownership and transfer of property. While the practitioner is prohibited from creating contracts from scratch, he or she is authorized to complete forms promulgated by the Texas Real Estate Commission. In addition to knowing the mechanics of doing so, it is important that the practitioner knows and understands the influence contract law has on these transactions.

In this course, we will identify some key concepts of Texas Contract law, recite the basics of real estate law in general, complete a review of the introduction to contracts, explore ownership rights and limitations vis-à-vis real estate, identify a variety of contracts used in real estate, explore the details of the sales contract, discover the contingencies, addendums and amendments used in typical real estate transactions, identify the process of financing real estate, explore how title to real estate is conveyed, detail the transaction process and the closing of a deal, and identify some common contract mistakes.

About

This course will cover the principles of financing a transaction. Topics covered will include pre-qualifying vs. pre-approval, the qualifying and approval process, required documentation for transaction financing, various loan program types and criteria, and the loan process. Learners will review the tools used to determine actual costs related to financing a transaction and the effect of changes in interest rates. The course will cover the loan process and steps which take place during the transaction, as well as some preparations buyers can make to ensure financial readiness for homeownership.

About

This course covers the topics required by the Texas Real Estate Commission for the core course Principles of Real Estate II, 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.

This Principles of Real Estate II course follows the required outline presented by the Texas Real Estate Commission (TREC). Learners will be expected to complete each lesson before moving forward to the next. In this course, we will discuss mathematics involved in real estate as well as key concepts related to the appraisal and finance of real property. The course also explores investments, leases, and property management, before further study of estates, transfers, and titles.

About

Establishing your career as a real estate brokerage requires extensive knowledge of the real estate industry. Brokers are required to stay updated with real estate trends and outlooks. They are also required to have the necessary qualifications and experience to run their own business. If you're looking forward to starting your own brokerage business, then you need to arm yourself with crucial information on how a brokerage business works.

This course will attempt to help learners understand the process of establishing their own brokerage business starting from understanding the pros and cons of starting a business, to choosing a business type, to managing financials, operations, administration, marketing and finally maintaining sustainability. The course caters to learners trying to establish their brokerage business in Texas and so TREC rules about brokers, ethical practices, marketing, hiring and business management is provided in the course for the learner to know and understand.

About

This course provides an introduction to real estate finance. From qualifying the borrower and qualifying the property in the underwriting process to various types of financing, closing the sale, the Community Reinvestment Act and more, we discuss the monetary systems that control the market, delve into supply and demand, cover housing agencies, and discuss the government influence on real estate.

Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Making real estate loans carries a certain amount of risk for lenders; for this reason, lenders must have a firm grasp of a borrower's financial qualifications. Lenders consider a borrower's income, credit, debt, source of funds, and net worth. However, no analysis, no matter how thorough, of a borrower's creditworthiness, can be enough to ensure that a loan is completely free of risk.

You will learn the methods used by lenders to qualify loan applicants and how lenders qualify the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth so that you will feel confident and familiar with them when you meet them in the real world.

The basics of the financing and the sale process are discussed over two lessons. You will learn how title (abstract ownership rights to the property) is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits.

In another lesson, the focus turns to closing. You will learn the customary costs involved in a real estate transaction, how certain items are prorated between the buyer and the seller and the requirements set forth by the Real Estate Settlement Procedures Act (RESPA).

This course also covers foreclosure. We consider what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed and sold at auction and how the creditors are repaid.

No real estate finance course would be complete without discussing the types of mortgages available. We have two lessons that will detail the elements of conventional loans, both conforming and nonconforming; adjustable rate; graduated payment; growth equity; and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized so that you may better understand the decision-making process inherent in real estate finance.

Two specific types of financing, FHA-insured and VA-guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry a monthly insurance premium that cannot be canceled. VA loans are guaranteed in part by the government, but are available only to veterans, active servicemen, and certain National Guard members and special reservists.

The final lesson deals with a topic important to real estate investment: Internal Revenue Code (IRC) Section 1031 exchanges (a k a 1031s). Buying and selling real estate investments can be a tax-heavy business. By "exchanging" their investments under the continuity of investment principle, investors can receive more financing and improve their portfolios.

At the end of each lesson, you will be required to complete a quiz for that lesson before moving on to the next lesson. The course ends with a real-world practice lesson that brings together the concepts and material discussed throughout the entire course.

About

How to Build a Real Estate Practice in Texas is a 30-hour course for those who wish to establish their own real estate brokerages. The course provides information on how to successfully operate a business, teaches professional skills necessary to provide high-quality service to clients, discusses risk management and compliance within federal and state law, and addresses issues related to valuation and finance.

There are seven sections or modules in this course:

• Module One: How to Build a Successful Business
• Module Two: Asset Management
• Module Three: Tax-Favorable Real Estate Transactions
• Module Four: Code of Ethics
• Module Five: Fair Housing
• Module Six: Real Estate Appraisal
• Module Seven: Real Estate Finance

About

Real estate transactions permit and require more negotiation than most other exchanges of goods and services, and, as a result, much of a real estate salesperson's job involves trying to craft mutually acceptable deals for the various parties involved in them. Additionally, salespersons must not only negotiate with those with which they wish to gain some advantage or another, but also sometimes with their own clients. Because real estate practice involves so much negotiating, virtually any salesperson can benefit from improving his or her negotiation skills, and this course is designed to teach just such methods of improvement.

There are five sections or modules in this course:

• Module 1: Effective Communication
• Module 2: Emotional Intelligence
• Module 3: General Negotiations
• Module 4: Reading People
• Module 5: Real Estate Negotiations

About

This real estate law course takes students on a tour of the various legal aspects of real estate practices, property sales transactions, and property leasing. The course begins with an exploration of real estate legal concepts, tax benefits, and insurance before diving into contract law and real estate forms. Next is an overview of land ownership, rights and characteristics, real property and personal property, and land descriptions.

Land use restrictions and controls, environmental risks, estates, encumbrances, and taxes are also discussed. The course then discusses land conveyance, deeds, liens, and foreclosures before examining public records and recording, title history and title insurance, and the transfer of title. The final lesson explores leasehold estates, leases, property management, and fair housing laws.

About

This Texas property management course will help licensees who work as property managers, or are considering becoming property managers, develop a comprehensive understanding of the field. It begins with an introduction to the factors, economics, law, responsibilities, and operation of professional property management. Learners will explore marketing principles and activities, opening and running a property management office, and managing relationships with owners and tenants.

Next, we discuss analyzing and managing residential and commercial properties, the nature and types of leases, risk management, and applicable state and federal law. The course concludes with sections detailing the managers maintenance and safety and security responsibilities.

About

This Real Estate Marketing course focuses on professionalism and ethics, the characteristics of a successful sales agent, time management, the psychology of marketing, and listing procedures. You will learn how advertising is governed by certain rules and regulations as well as various techniques for advertising (including technology and online marketing, social media marketing, marketing research and data analysis and pricing). In this course, you will review some of the principles of understanding clients/personality types. You will discover some of the basics of negotiating and closing transactions, identify how financing is a part of the marketing process, and, finally, identify the impact of the Texas Deceptive Trade Practices-Consumer Protections Act (DTPA) on marketing.

It is important as you proceed through the course to remember the phrase, as those topics impact marketing. Each topic has been the subject of an endless number of articles, seminars, books, continuing education courses, studies, surveys and so on.

One could spend a lifetime studying just one of these topics as new information, rules and regulations continually emerge. Dedicated professionals will find far more information on each topic. Therefore, the scope of this course is, insofar as possible, limited to how each area impacts marketing.

About

The purpose of Legal Update I is to support Texas license holder competence through the review of recent legislative and TREC rule changes, including changes to TREC promulgated contract forms. The courses include topics relevant to the current practice of real estate in Texas.

About

The purpose of Legal Update II is to support Texas license holder competence through the review of recent legislative and TREC rule changes, including changes to TREC promulgated contract forms. The courses include topics relevant to the current practice of real estate in Texas.

About

Establishing your career as a real estate brokerage requires extensive knowledge of the real estate industry. Brokers are required to stay updated with real estate trends and outlooks. They are also required to have the necessary qualifications and experience to run their own business. If you're looking forward to starting your own brokerage business, then you need to arm yourself with crucial information on how a brokerage business works.

This course will attempt to help learners understand the process of establishing their own brokerage business starting from understanding the pros and cons of starting a business, to choosing a business type, to managing financials, operations, administration, marketing and finally maintaining sustainability. The course caters to learners trying to establish their brokerage business in Texas and so TREC rules about brokers, ethical practices, marketing, hiring and business management is provided in the course for the learner to know and understand.

About

This course provides an introduction to real estate finance. From qualifying the borrower and qualifying the property in the underwriting process to various types of financing, closing the sale, the Community Reinvestment Act and more, we discuss the monetary systems that control the market, delve into supply and demand, cover housing agencies, and discuss the government influence on real estate.

Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Making real estate loans carries a certain amount of risk for lenders; for this reason, lenders must have a firm grasp of a borrower's financial qualifications. Lenders consider a borrower's income, credit, debt, source of funds, and net worth. However, no analysis, no matter how thorough, of a borrower's creditworthiness, can be enough to ensure that a loan is completely free of risk.

You will learn the methods used by lenders to qualify loan applicants and how lenders qualify the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth so that you will feel confident and familiar with them when you meet them in the real world.

The basics of the financing and the sale process are discussed over two lessons. You will learn how title (abstract ownership rights to the property) is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits.

In another lesson, the focus turns to closing. You will learn the customary costs involved in a real estate transaction, how certain items are prorated between the buyer and the seller and the requirements set forth by the Real Estate Settlement Procedures Act (RESPA).

This course also covers foreclosure. We consider what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed and sold at auction and how the creditors are repaid.

No real estate finance course would be complete without discussing the types of mortgages available. We have two lessons that will detail the elements of conventional loans, both conforming and nonconforming; adjustable rate; graduated payment; growth equity; and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized so that you may better understand the decision-making process inherent in real estate finance.

Two specific types of financing, FHA-insured and VA-guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry a monthly insurance premium that cannot be canceled. VA loans are guaranteed in part by the government, but are available only to veterans, active servicemen, and certain National Guard members and special reservists.

The final lesson deals with a topic important to real estate investment: Internal Revenue Code (IRC) Section 1031 exchanges (a k a 1031s). Buying and selling real estate investments can be a tax-heavy business. By "exchanging" their investments under the continuity of investment principle, investors can receive more financing and improve their portfolios.

At the end of each lesson, you will be required to complete a quiz for that lesson before moving on to the next lesson. The course ends with a real-world practice lesson that brings together the concepts and material discussed throughout the entire course.

About

How to Build a Real Estate Practice in Texas is a 30-hour course for those who wish to establish their own real estate brokerages. The course provides information on how to successfully operate a business, teaches professional skills necessary to provide high-quality service to clients, discusses risk management and compliance within federal and state law, and addresses issues related to valuation and finance.

There are seven sections or modules in this course:

• Module One: How to Build a Successful Business
• Module Two: Asset Management
• Module Three: Tax-Favorable Real Estate Transactions
• Module Four: Code of Ethics
• Module Five: Fair Housing
• Module Six: Real Estate Appraisal
• Module Seven: Real Estate Finance

About

Real estate transactions permit and require more negotiation than most other exchanges of goods and services, and, as a result, much of a real estate salesperson's job involves trying to craft mutually acceptable deals for the various parties involved in them. Additionally, salespersons must not only negotiate with those with which they wish to gain some advantage or another, but also sometimes with their own clients. Because real estate practice involves so much negotiating, virtually any salesperson can benefit from improving his or her negotiation skills, and this course is designed to teach just such methods of improvement.

There are five sections or modules in this course:

• Module 1: Effective Communication
• Module 2: Emotional Intelligence
• Module 3: General Negotiations
• Module 4: Reading People
• Module 5: Real Estate Negotiations

About

This real estate law course takes students on a tour of the various legal aspects of real estate practices, property sales transactions, and property leasing. The course begins with an exploration of real estate legal concepts, tax benefits, and insurance before diving into contract law and real estate forms. Next is an overview of land ownership, rights and characteristics, real property and personal property, and land descriptions.

Land use restrictions and controls, environmental risks, estates, encumbrances, and taxes are also discussed. The course then discusses land conveyance, deeds, liens, and foreclosures before examining public records and recording, title history and title insurance, and the transfer of title. The final lesson explores leasehold estates, leases, property management, and fair housing laws.

About

This Texas property management course will help licensees who work as property managers, or are considering becoming property managers, develop a comprehensive understanding of the field. It begins with an introduction to the factors, economics, law, responsibilities, and operation of professional property management. Learners will explore marketing principles and activities, opening and running a property management office, and managing relationships with owners and tenants.

Next, we discuss analyzing and managing residential and commercial properties, the nature and types of leases, risk management, and applicable state and federal law. The course concludes with sections detailing the managers maintenance and safety and security responsibilities.

About

This Real Estate Marketing course focuses on professionalism and ethics, the characteristics of a successful sales agent, time management, the psychology of marketing, and listing procedures. You will learn how advertising is governed by certain rules and regulations as well as various techniques for advertising (including technology and online marketing, social media marketing, marketing research and data analysis and pricing). In this course, you will review some of the principles of understanding clients/personality types. You will discover some of the basics of negotiating and closing transactions, identify how financing is a part of the marketing process, and, finally, identify the impact of the Texas Deceptive Trade Practices-Consumer Protections Act (DTPA) on marketing.

It is important as you proceed through the course to remember the phrase, as those topics impact marketing. Each topic has been the subject of an endless number of articles, seminars, books, continuing education courses, studies, surveys and so on.

One could spend a lifetime studying just one of these topics as new information, rules and regulations continually emerge. Dedicated professionals will find far more information on each topic. Therefore, the scope of this course is, insofar as possible, limited to how each area impacts marketing.