12/27/2024 8:00:43 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
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.

(Grade Only)
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:
At the conclusion of this course, the student should be able to:

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.

 

Objectives:

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.

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.

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