Real Estate

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS.
• Demonstrate a basic understanding of the principles and concepts of California real estate law.
• Demonstrate an ability to analyze factual situations and case problems and to apply the applicable legal principles to resolve them.
• Be able to recognize real estate problems before they arise and to think in a preventative relationship to such problems.
• SLO 2: EXPRESS IDEAS AND FACTS CLEARLY AND COMPLETELY.
• Describe an overview of the entire area of California real estate law, including consideration of the law’s evolution and changing concepts in our society.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE SKILL AND COMPREHENSION IN RESPECTIVE SUBJECT AREAS AS INDICATED BY COURSE OUTCOMES.
• Demonstrate an understanding of real estate practices and transactions.
• SLO 2: EXPRESS IDEAS AND FACTS CLEARLY AND COMPLETELY.
• Demonstrate a basic understanding of the fundamental concepts and practices of real estate with an emphasis on residential property.
• Define the technical terminology involved in the real estate field.
• Describe the necessary background and qualifications for the California Real estate Broker’s license examination.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE SKILL AND COMPREHENSION IN RESPECTIVE SUBJECT AREAS AS INDICATED BY COURSE OUTCOMES PERTAINING TO REAL ESTATE FINANCE.
• Demonstrate understanding of the workings of the real estate finance system.
• Identify sources of funds and the various entities which affect qualifications therefore and availability thereof.
• Demonstrate skills in the theoretical applications of real estate financing.
• SLO 2: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS.
• Demonstrate ability to analyze various aspects of real estate finance including loan processing, appraisal for lenders, foreclosure, secondary markets, construction loans, mathematics of real estate finance and creative techniques.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE SKILL AND COMPREHENSION IN RESPECTIVE SUBJECT AREAS AS INDICATED BY COURSE OUTCOMES PERTAINING TO REAL ESTATE APPRAISAL.
• Demonstrate understanding of various methods of analyzing market data, building cost data, depreciation, and income and expense data.
• Demonstrate the necessary background for passing the Appraisal license examination.
• Demonstrate knowledge of the appraisal process, the nature of problems that may be encountered, and the tools and procedures necessary to solve these problems.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE SKILL AND COMPREHENSION IN RESPECTIVE SUBJECT AREAS AS INDICATED BY COURSE OUTCOMES PERTAINING TO THE ADVANCED APPRAISAL PROCESS.
• Understand the various methods of adjusting comparable sales to indicate the value of the appraised property, including the reason for and the ability to adjust for nonstandard financing, where appropriate.
• Identify the primary motivation for purchasing real property, recognize the relationship between the various rates of return, see the interrelationships among present and future worth functions; develop and property use capitalization rates; and computer an overall capitalization rate and properly apply it to net operating income.
• Describe several methods for capitalizing income; determine which of the residual techniques of capitalization is most applicable in determining and estimate of value under circumstances; understand the comparative strengths and weaknesses of each of the residual techniques.
• SLO 2: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS.
• Distinguish among leased fee, leasehold estate, and fee simple interest and understand how to value a leased fee interest, a leasehold estate, and a sandwich lease.
• Determine appropriate time to use the depreciated cost approach; distinguish between economic life and physical life; and compute cost and depreciation using different methods.
• SLO 3: EXPRESS IDEAS AND FACTS CLEARLY AND COMPLETELY.
• Identify why typical management is assumed in conducting market value appraisals; distinguish between potential gross income and effective gross income; understand the need to undertake a comprehensive lease analysis, recognize different conditions that can distort rental income and expenses; reconstruct an owner's operating expense statement; discern the difference between capital and operating expenditures; and understand the proper ways of setting up allowances for replacements.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE SKILL AND COMPREHENSION IN RESPECTIVE SUBJECT AREAS AS INDICATED BY COURSE OUTCOMES PERTAINING TO REAL ESTATE ECONOMICS.
• Describe the economic principles that govern real estate markets and buyer/seller behavioral patterns.
• SLO 2: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS.
• Describe the economic impacts of income and property taxation on market value.
• Logically interpret national, regional, and community trends in terms of their effects on real estate.
• Analyze and apply sound economic principles to income processing through the use of break-even analysis, cash equivalents, capitalization theory, and internal fair rates of return.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS.
• Acquire and demonstrate basic understanding of the fundamental principles and procedures involved in ordinary escrow transactions.
• Demonstrate knowledge of the content, purpose and use of the basic forms/formats generally used in the processing of an escrow.
• Analyze the various types of title insurance policies.
• SLO 2: EXPRESS IDEAS AND FACTS CLEARLY AND COMPLETELY.
• Explain the procedures used in opening, processing, and closing an escrow.
• Define, understand and use the technical terminology used in the escrow industry.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS.
• Identify the problems of unusual escrows.
• Analyze escrow situations and offer solutions to the situations and/or problems.
• Demonstrate application of escrow procedures in the real estate field.
• Prepare escrows.
• SLO 2: DEMONSTRATE SKILL AND COMPREHENSION IN RESPECTIVE SUBJECT AREAS AS INDICATED BY COURSE OUTCOMES.
• Understand escrow procedures for complex real estate transactions.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS.
• Identify and apply the basis of economic management forms used for all management requirements of tenant and owner.
• Apply knowledge and skill in the legal aspects of rental management.
• SLO 2: DEMONSTRATE SKILL AND COMPREHENSION IN RESPECTIVE SUBJECT AREAS AS INDICATED BY COURSE OUTCOMES PERTAINING TO REAL ESTATE PROPERTY MANAGEMENT.
• Explain the history of industry in commercial and residential properties.
• Demonstrate an understanding of the human element in income property management.

Upon completion of this course, the student will be able to:

• SLO #1: Actively engage in intellectual inquiry beyond that required in order to pass a course of study (College Wide Learning Outcome – Area 4).
• Discuss and outline a proposal of study (that can be accomplished within one semester term) with a supervising instructor qualified within the discipline.
• Design an independent study (to be completed individually or by collaboration of a small group) to foster special knowledge, skills, and experience that are not available in any one regularly scheduled course.
• Use information resources to gather discipline-specific information.
• SLO #2: Utilize modes of analysis and critical thinking to apply theoretical perspectives and/or concepts in the major discipline of study to significant problems and/or educational activities (College Wide Learning Outcome – Area 3).
• Analyze and apply the knowledge, skills and experience that are involved in the independent study to theoretical perspectives and/or concepts in the major discipline of study.
• Explain the importance of the major discipline of study in the broader picture of society.
• SLO #3: Communicate a complex understanding of content matter of the major discipline of study (College Wide Outcome – Area 3).
• Demonstrate competence in the skills essential to mastery of the major discipline of study that are necessary to accomplish the independent study.
• SLO #4: Identify personal goals and pursue these goals effectively (College Wide Outcome – Area 4).
• Utilize skills from the “academic tool kit” including time management, study skills, etc., to accomplish the independent study within one semester term.

Upon completion of this course, the student will be able to:

• SLO #1: Apply principles and information from prior classroom study to the daily activities of a real estate salesperson through supervised on-the-job experience.
• Describe the duties and expectations of a real estate salesperson.
• Explain the process of buying and selling a parcel of real estate.
• Discuss different methods used in the real estate industry for building a clientele.
• Describe the role of financing in the real estate purchasing process.
• Know and explain the different types of disclosures and inspections a buyer and/or lender may require during the purchase and financing of a property.
• Describe the roles and responsibilities of other entities and professionals in the real estate industry.

Upon completion of this course, the student will be able to:

• SLO 1: DEMONSTRATE THE ABILITY TO UNDERSTAND IMPORTANT REAL ESTATE PRINCIPLES, CONCEPTS, AND TERMINOLOGY AND HOW THEY IMPACT THE BUSINESS OF REAL ESTATE.
• Understand the various methods of acquiring and transferring real property.
• Understand and describe the methods available for holding title to real estate, the requirements of a valid deed, and how legal encumbrances (liens, easements, and encroachments) affect the use and value of real property.
• Describe the necessary background and qualifications for the California Real Estate Salesperson's and Broker's License and understand the requirements of the state licensing examination.
• Understand the concept of agency, including how agency relationships are formed, duties of agent and principal, and the liability of the parties. Describe the fiduciary responsibilities arising from an agency relationship. Discuss the concept of ethics and its role in the real estate transaction process.
• Understand the essential elements of a valid real estate contract and describe the common forms used in a real estate transaction, including the listing agreement, purchase contract, and required disclosures.
• Identify and describe the various approaches to real estate appraisal and which valuation approach is best for a particular situation.
• Understand the landlord and tenant relationship and the duties owed to each other.
• Evaluate the consequences of failing to comply with state and federal laws pertaining to fair housing, environmental impact, and subdivisions.
• SLO 2: DEMONSTRATE THE ABILITY TO THINK CRITICALLY AND ANALYZE PROBLEMS SO AS TO BE ABLE TO APPLY REAL ESTATE PRINCIPLES AND CONCEPTS TO RESOLVE REAL AND HYPOTHETICAL REAL ESTATE ISSUES.
• Analyze real estate statutory and case law to understand important legal principles and apply the legal rules to fact patterns to reach defensible legal conclusions.
• Demonstrate the ability to utilize the internet and other media and web based content to conduct research and complete the real estate transaction process.

Upon completion of this course, the student will be able to:

• SLO #1: Actively engage in intellectual inquiry beyond that required in order to pass a course of study (College Wide Learning Outcome – Area 4).
• Discuss and outline a proposal of study (that can be accomplished within one semester term) with a supervising instructor qualified within the discipline.
• Design an independent study (to be completed individually or by collaboration of a small group) to foster special knowledge, skills, and experience that are not available in any one regularly scheduled course.
• Use information resources to gather discipline-specific information.
• SLO #2: Utilize modes of analysis and critical thinking to apply theoretical perspectives and/or concepts in the major discipline of study to significant problems and/or educational activities (College Wide Learning Outcome – Area 3).
• Analyze and apply the knowledge, skills and experience that are involved in the independent study to theoretical perspectives and/or concepts in the major discipline of study.
• Explain the importance of the major discipline of study in the broader picture of society.
• SLO #3: Communicate a complex understanding of content matter of the major discipline of study (College Wide Outcome – Area 3).
• Demonstrate competence in the skills essential to mastery of the major discipline of study that are necessary to accomplish the independent study.
• SLO #4: Identify personal goals and pursue these goals effectively (College Wide Outcome – Area 4).
• Utilize skills from the “academic tool kit” including time management, study skills, etc., to accomplish the independent study within one semester term.

Upon completion of this course, the student will be able to:

• DEMONSTRATE AN UNDERSTANDING AND APPLICATION OF PROFESSIONAL WORKPLACE BEHAVIOR IN A FIELD OF STUDY RELATED TO ONE’S CAREER.(SLO 1)
• Understand the effects time, stress, and organizational management have on performance.
• Demonstrate an understanding of consistently practicing ethics and confidentiality in a workplace.
• Examine the career/life planning process and relate its relevancy to the student.
• Demonstrate an understanding of basic communication tools and their appropriate use.
• Demonstrate an understanding of workplace etiquette.
• DESCRIBE THE CAREER/LIFE PLANNING PROCESS AND RELATE ITS RELEVANCY TO ONE'S CAREER.(SLO 2)
• Link personal goals to long term achievement.
• Display an understanding of creating a professional first impression.
• Understand how networking is a powerful job search tool.
• Understand necessary elements of a résumé.
• Understand the importance of interview preparation.
• Identify how continual learning increases career success.
• DEMONSTRATE APPLICATION OF INDUSTRY KNOWLEDGE AND THEORETICAL CONCEPTS AS WRITTEN IN LEARNING OBJECTIVES IN PARTNERSHIP WITH THE EMPLOYER WORK SITE SUPERVISOR.(SLO 3)