May 19, 2019
BUS 250 - Principles of Real Estate Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: Open
Fundamental principles, economics, law, working concepts and terminology. Focuses on real estate law and assists those preparing for the apprentice salesperson examination.
- Explain the broad social and economic impact of real estate.
- List the major factors involved in determining the need for housing units.
- Express the major reasons for declining home ownership in recent years.
- Summarize a variety of career opportunities and the broad scope of the real estate business.
- Explain the importance of economic base analysis, business cycles, and the real estate cycle on real estate business.
- Explain how the business cycle affects real estate activities.
- Describe the real estate cycle.
- Summarize the major factors that affect the real estate market.
- Summarize the various property rights and ramifications of real estate ownership.
- Differentiate real property, personal property, and fixtures.
- Explain the various titles that can be used to own real property.
- Assess the four types of estates a person can hold in land.
- Compare the three types of concurrent ownership in real property.
- Describe the following four types of ownership interests in property.
- Interpret the general principles of contracts and how they apply to real estate transactions.
- Describe the six basic elements of the real estate contract.
- Discuss the differences in a marketable title and an insurable title.
- Describe the content and function of a deed.
- Summarize the content of the purchase agreement.
- Compare types of leases available in renting real property
- Describe the four kinds of tenancies of leasehold estates.
- Describe the common lease covenants found in a residential lease agreement.
- Discuss the common ways of terminating leases.
- Explain the various types of liens and their purposes.
- Compare traditional and alternative means of financing a real estate purchase.
- List the advantage and disadvantage of the most common financing instruments.
- Identify the likely users of each of the common finance instruments.
- Summarize the basic tools of real estate investment analysis.
- Discuss reasons why people invest in real estate.
- Assess the risks of real estate investment.
- Analyze the basic concepts of residential appraising.
- Identify elements that influence the value of property.
- Discuss the three common approaches to single-family residential real property.
- Point out benefits of renting real property vs. owning real property.
- Discuss five factors that are important considerations in the selection of a home.
- Describe the types of choices a home buyer has when purchasing a home.
- Contrast the role of brokers and agents in real property transactions.
- Describe agency.
- List the kinds of agents
- Describe the duties of an agent to a principal.
- Describe the four types of employment contracts between principal and agent.
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