Real estate mathematics can be very daunting and confusing. However, by beginning with a review of basic math skills and reinforcing what is already known, students will soon learn to apply real estate terminology and specific formulas to problems and tasks common in the real estate industry such as area and volume calculation, the Rectangular Survey System, the Metes and Bounds System, proration, commission rates, and property values. This course will help students develop the skills to complete a review of settlement costs and explain this information to clients.
Upon completion of this course, the student will be able to:
- Identify terminology that is used in typical real estate mathematics problems; Add, subtract, multiply, and divide fractions, as well as change percents and decimals to fractions
- Identify terminology that is used in typical real estate mathematics problems; Follow the important steps in solving math problems; Determine what formula to use to solve a real estate math problem; Use the memory formula to find the correct operation to solve a problem; Describe depreciation; Measure the reduction in the value of properties using the straight line depreciation method
- Explain principles central to real estate financing; Define principal and interest; Summarize the concept of amortization; Calculate the interest on a loan; Solve profit and loss problems
- Solve proration problems that a real estate professional typically comes across when closing transactions; Determine commission rates and calculate property values
- Differentiate between the four legal means of describing a property; Determine property locations and parcel size from a rectangular survey description; Use formulas to calculate area and volume of land and buildings
This course covers the following topics:
- Fractions and Percentages
- Real Estate Financing Problems
- Measurements and Survey Systems
Real Estate Math II - Georgia Real Estate Commission and Appraisers Board
End of Course Instructions
These credits count toward your Georgia Real Estate Continuing Education requirement, and your school of record will submit your credits to the commission upon receipt of the Course Evaluation Form.
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