| 6/12/2024 10:17:35 AM | RE 51 Course Outline as of Fall 2023 | Changed Course |
| CATALOG INFORMATION | ||
| Discipline and Nbr: RE 51 | Title: REAL ESTATE PRACTICE | |
| Full Title: Real Estate Practice | ||
| Last Reviewed:1/23/2023 | ||
| Units | Course Hours per Week | Nbr of Weeks | Course Hours Total | ||||
|---|---|---|---|---|---|---|---|
| Maximum | 3.00 | Lecture Scheduled | 3.00 | 17.5 max. | Lecture Scheduled | 52.50 | |
| Minimum | 3.00 | Lab Scheduled | 0 | 6 min. | Lab Scheduled | 0 | |
| Contact DHR | 0 | Contact DHR | 0 | ||||
| Contact Total | 3.00 | Contact Total | 52.50 | ||||
| Non-contact DHR | 0 | Non-contact DHR Total | 0 | ||||
| Total Out of Class Hours: 105.00 | Total Student Learning Hours:157.50 |
Title 5 Category: AA Degree Applicable
Grading: Grade Only
Repeatability: 00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As:
Formerly: RE 80C
Catalog Description: In this course, students will learn the day-to-day operations in real estate roles and brokerage including listing, prospecting, advertising, financing, sales techniques, escrow, and professional ethics. This course applies towards California educational requirements for the salesperson's license and broker's license.
Prerequisites/Corequisites:
Recommended Preparation:
Course Completion of RE 50
Limits on Enrollment:
Schedule of Classes Information In this course, students will learn the day-to-day operations in real estate roles and brokerage including listing, prospecting, advertising, financing, sales techniques, escrow, and professional ethics. This course applies towards California educational requirements for the salesperson's license and broker's license.
Description:
Prerequisites:
Recommended:Course Completion of RE 50
Limits on Enrollment:
Transfer Credit:CSU;
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP
ARTICULATION, MAJOR, and CERTIFICATION INFORMATION
| Associate Degree: | Effective: | Inactive: | |||
| Area: | |||||
| CSU GE: | Transfer Area | Effective: | Inactive: | ||
| IGETC: | Transfer Area | Effective: | Inactive: | ||
| CSU Transfer: | Transferable | Effective: | Fall 1981 | Inactive: | |
| UC Transfer: | Effective: | Inactive: | |||
| C-ID: | |||||
Certificate/Major Applicable: Both Certificate and Major Applicable
COURSE CONTENT
Student Learning Outcomes: 1. Arrange and assess equal housing opportunities. 2. Question and prescribe the ethical standards required in a real estate transaction. 3. Analyze and arrange a real property brokerage operation. At the conclusion of this course, the student should be able to: 1. Compare and contrast professional ethics, antitrust, and fair housing as it relates to real estate. 2. Analyze agency requirements as it applies to a real estate transaction. 3. Summarize marketing techniques such as prospecting by mail, by phone, and advertising.
At the conclusion of this course, the student should be able to:
Objectives:
4. Compare and contrast listing agreements.
5. Produce a residential purchase agreement.
6. Examine the need for and compose all required transfer disclosures.
7. Determine the steps to closing the transaction including the offer, escrow, and financing.
8. Analyze tax considerations of a real estate transaction including exchanges, capital gains, and installment sales.
9. Assess need for errors and omissions insurance to limit agent liability.
10. Understand the impact of implicit bias, explicit bias, and systemic bias on consumers, the historical and social impacts of those biases, and actionable steps students can take to recognize and address their own implicit biases.
Topics and Scope I. Professional Ethics, Antitrust, and Fair Housing Laws A. Code of ethics B. Antitrust laws C. Fair housing D. Implicit, explicit, and systemic bias II. Agency A. Agency law and common violations B. Agency disclosure III. Transfer Disclosure Statement IV. Errors and Omissions Insurance V. Marketing A. Prospecting 1. Methods of approach 2. Developing a program B. Advertising C. Institutional versus merchandise marketing VI. Listings A. Appraisal versus market analysis B. Types of listings 1. Open 2. Net 3. Exclusive and non-exclusive rights to sell VII. Purchase Agreements A. Standard purchase contract and deposit receipt B. Required disclosures C. Presentation of the offer VIII. Closing the Transaction A. Escrow B. Title insurance C. Agent responsibilities D. Qualifying the buyer E. Financing IX. Taxation A. Tax basis B. Installment sale C. 1031 and 1034 tax deferred exchanges D. Capital gains
Assignments: 1. Weekly reading of (25-30 pages) 2. Complete purchase agreement and related forms (2 pages minimum) 3. Field inspection(s) (open houses) (1-3) 4. Simple business plan 5. Market analysis 6. Interactive participatory component: fair housing role play scenarios, including the roles of consumer and real estate professional 7. Quizzes, midterm, and final exam
Methods of Evaluation/Basis of Grade.
| Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing. | Writing 20 - 25% | ||
| Purchase agreements. and related forms; field Inspection(s); simple business plan | |||
| Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills. | Problem Solving 10 - 15% | ||
| Market analysis | |||
| Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams. | Skill Demonstrations 5 - 15% | ||
| Interactive participatory component | |||
| Exams: All forms of formal testing, other than skill performance exams. | Exams 50 - 60% | ||
| Quizzes, midterm, and final exam | |||
| Other: Includes any assessment tools that do not logically fit into the above categories. | Other Category 5 - 10% | ||
| Attendance and participation | |||
Representative Textbooks and Materials: California Real Estate Practice. 9th ed. Huber, Walt and Lyons, Arlette. Educational Textbook Company. 2020.
Print PDF
