CALIFORNIA REAL ESTATE PRACTICE

AGENT COLLEGE

45 hours

COURSE DESCRIPTION

Covers all material in Real Estate Practice classes with special emphasis on California procedures. Written in very clear and simple language, easy-to-read format with photographs, charts, and graphs. Designed to fulfill the course requirements necessary to take the California Real Estate Salesperson and Broker Exams. The course provides step-by-step instructions for filling out important real estate forms, including how to avoid common and costly mistakes. You'll also find numerous examples of "sample scripts" to help guide you through common dialogue scenarios you're sure to encounter in the listing and selling of real estate. In other words, we teach you how to apply the "principles" you've learned to the actual "practice" of real estate.

PREREQUISITES: None

TYPE OF COURSE:
The course is a home study course in book format taken at the student's convenience. Tests and quizzes are done online. The course is available 24 hours a day, seven days per week.

COURSE OUTLINE:

REAL ESTATE FINANCE

Chapter 1: The Salesperson

• Enter the Salesperson
• The Broker Interview
• Large vs. Small Offices
• Employee-Employer Relationship
• Planning Objectives and Goals
• Enter the Broker
• The Brokerage Firm
• Record Keeping
• Chapter Summary
• Terminology

Chapter 2: Prospecting

• Prospecting
• Advertising and Promotion
• Chapter Summary
• Terminology
  

Chapter 3: The Listing Agreement

• Employing and Agent
• Agency Relationship Disclosure Act
• Preparing for the Listing Appointment
• Closing the Seller
• Servicing Listings
• Chapter Summary
• Terminology
  

Chapter 4: Breakdown of the Listing Agreement

• Breakdown and Analysis of the Listing Agreement
• Completing the Listing Kit
• The Broker's Role in Real Estate Appraisal
• Chapter Summary
• Terminology

Chapter 5: Selling

• The American Dream
• Shopping for a Home
• Why Buyers Buy
• Techniques of Selling
• The Critical Path of Selling
• The Sale
• Chapter Summary
• Terminology

Chapter 6: The Purchase Offer

• Overview of the Purchase of Contract
• Evaluation and Analysis of the Purchase Contract
• Chapter Summary
• Terminology

Chapter 7: Additional Forms for the Purchase Contract

• Forms Supplied to the Buyer
• CAR^® Real Estate Disclosure Summary Chart
• Chapter Summary
• Terminology

Chapter 8: Finance

• Nature of Financing
• Institutional (Conventional) Financing
• The Secondary Mortgage Market
• Government Financing (Government-Backed Loans)
• Qualifying the Borrower
• Noninstitutional Financing
• Loan Takeovers
• Loan Brokerage
• Chapter Summary
• Terminology

Chapter 9: Escrow

• The Escrow Procedure
• How Escrows Work
• Proration
• Termites and Other Problems
• Fire Insurance
• Title Insurance
• Types of Title Insurance Policies
• Real Estate Settlement Procedures act (RESPA)
• California Escrow Association
• Chapter Summary
• Terminology

Chapter 10: Taxation

• Property Taxes
• Special Assessment Tax
• Documentary Transfer Tax
• Gift and Estate Taxes
• Federal and State Income Taxes
• Income Tax Aspects of Real Estate Transactions
• Taxes on Personal Residence
• Taxes for Income Producing Properties
• Sale of Real Property
• Installment Sales and Exchanges
• Dealer Property
• We are Now Tax Collectors (Federal and State Income Tax Laws)
• Other Taxes Paid by Brokers
• Chapter Summary
• Terminology

Chapter 11: Investing

• Why Invest in REal Estate
• Benefits of Investing
• Challenges to Real Estate Investing
• Financing INcome Properties
• YOur Role in the Investment Process
• Residential Income Properties
• Syndication (Purchase Group)
• Chapter Summary
• Terminology

Chapter 12: Sale of a Business

• Small Business Opportunities
• Selling a Business
• Valuation of Business Opportunities
• Valuation of Business Opportunities
• Tax Consequences on the Sale of Business Opportunities
• Alcoholic Beverage Control Act
• Ancillary Activities and Specialty Roles
• Property Management Activities
• Escrow Activities
• Loan Brokerage Activities
• Syndication
• Brokerage Opportunities in Probate Sales
• State of California Sales Opportunities
• Real Estate Brokerage - General vs. Specialization
• Manufactured Housing and the Licensee
• Chapter Summary
• Terminology

Chapter13: Property Management

• Fair Housing Laws
• Property Management
• Chapter Summary
• Terminology

Chapter 14: Real Estate Assistants

• Assisting as a Career
• Who Hires Assistants?
• Getting the Job Done
• What do Assistants Do?
• Chapter Summary
• Terminology

Chapter 15: Licensing, Ethics and Associations

• Department of Real Estate (DRE)
• Real Estate License Requirements
• Real Estate Law and Regulations
• Common Real Estate Law Violations
• Real Estate General Fund
• Trade and Professional Associations
• Chapter Summary
• Terminology

Office Policy Manual

Glossary

Index

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