Real Estate Practice

Chapter 1: Introduction to Agency and Relationships in Real Estate

Chapter 2: Real Estate Agency Relationships

Chapter 3: Listing Agreements and Property Disclosures

Chapter 4: Listing Regulations, Part 1

Chapter 5: Listing Regulations, Part 2

Chapter 6: Evaluating and Pricing Property

Chapter 7: Sales Techniques and Practices

Chapter 8: Preparing and Negotiating Offers

Chapter 9: Deposit Receipts

Chapter 10: Contingent Transactions

Chapter 11: Loan Qualifying

Chapter 12: Real Estate Financing Features

Chapter 13: Financing Programs

Chapter 14: Closing the Transaction

Chapter 15: Property Management

Chapter 16: Implicit Bias Awareness

Chapter 17: Fair Housing

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

• Understand agency and agency laws.
• Know the process of creating agency.
• Be aware of the different types of agency relationships.
• Explain the different types of listing agreements.
• Describe the essential elements of a listing agreement.
• Provide the mandatory disclosures concerning a property to the consumer.
• Explain the most important laws regarding real estate transactions.
• Explain anti-discrimination laws and integrate them into your real estate practice.
• Explain the anti-trust laws and listing practices and integrate them into your practice.
• Explain the required environmental disclosures and make them available to real estate consumers to make an informed decision.
• Explain and execute your role in assisting a buyer or seller in pricing property.
• Explain a Competitive Market Analysis to a seller or buyer.
• Assist a buyer or seller when an appraisal comes in at lower than purchase price.
• Integrate effective practices when listing property and providing the seller consumer the essential information he/she will need to make an informed decision.
• Integrate effective practices when selling property by providing the buyer consumer the essential information he/she will need to make an informed decision.
• Address issues regarding the agent's safety and security as well as that of the client.
• Discuss the essential practices in utilizing assistants in the agent's business.
• Write an offer to purchase with a buyer client.
• Write up counteroffers and conduct negotiations between the offeror and offeree.
• Explain the implications of accepting an offer to a party.
• Incorporate amendments to contract when necessary.
• Orchestrate the process properly when there is a cancellation to the contract.
• Properly handle good faith deposits.
• Incorporate fair housing considerations when presenting offers and counteroffers.
• Complete a valid and enforceable purchase agreement.
• Explain the provisions in the purchase agreement.
• Explain the provisions in the deposit receipt.
• Explain how contingencies protect the parties in a transaction.
• Utilize the different types of contingencies when appropriate.
• Explain what happens when a contingency is unfulfilled.
• Properly assist a buyer in pre-qualifying for a loan.
• Explain the underwriting process.
• Assist the buyer, in conjunction with the lender in choosing the appropriate loan program.
• Describe the basic features of the various loan programs.
• Explain the characteristics of a conventional loan.
• Explain the characteristics of FHA & VA Loans.
• Explain the structures of seller-assisted financing.
• Explain the closing process to the buyer and seller.
• Identify the closing costs and who pays them.
• Explain the laws that affect the closing process.
• Explain the issues involved in investing in real estate.
• Identify the types of properties that would require professional management.
• Explain a property management agreement.
• Assist an owner in designing a management plan for his/her property.
• Explain the functions in managing a property for the owner.

GENERAL INFORMATION PAGE FOR HOME-STUDY STATUTORY COURSES

360training.com, Inc.
5000 Plaza on the Lake, Suite 305, Austin, TX 78746
DRE Sponsor ID# S0656
www.360training.com
PHONE: (877) 881-2235
FAX: (512) 441-1811

COURSE TITLE: Real Estate Practice

AUTHOR: This course is authored by the instructional design staff and contracting subject matter experts of 360training.com.

PUBLISHER: This course is published by 360training.com, Inc.

EDITION: This is the first PDF edition of the Real Estate Practice published by 360training.com, Inc.

COPYRIGHT YEAR: 2018

PAGES: 451

COST: $80 for ordering a single course.

COURSE DESCRIPTION: The Real Estate Practice course is designed to give learners a detailed understanding of the Californian real estate laws governing real estate businesses and agencies. The course begins with an introduction to agencies, agency relationships and how an agency is created. It also provides an in-depth insight the different types of agency relationships, the laws governing them and how an agency can be terminated. Moving on, the course contains important information on listing agreements and property disclosures following Californian real estate laws as well as the different types of disclosures that is mandatory for brokers and real estate agencies to process.

The learner is also taught ethical sales techniques and practices along with methods of negotiating a price and writing up a counter-offer. The lessons dealing with evaluating pricing property, preparing and negotiating offers and deposit receipts are designed to equip learners with the necessary skills to close an effective real estate transaction. The learner is also taught the importance of planning for contingent transactions and the different types of contingencies along with a plan of action for when a contingency transaction goes wrong.

Successful brokers are also required to understand the loan qualifying process well enough to advise and assist prospective clients in getting the right loans or in revising their financial status to qualify for the right loan. The agent's responsibilities would also include explaining to the buyer the underwriting process and how they can choose a loan that works best for their needs. Along with understanding the preliminary requirements for loans, real estate agents are also required to understand the various characteristics of a conventional loan including FHA and VA loans as well as self-assisted financing options.

Finally, towards the end of the course, important lessons on Closing Transactions and Property Management are included to help learners understand the processes in closing a successful transaction. Property management is included as the last lesson in the course, helping learners identify properties that would require professional management and how a skilled property manager can help the owner manage their property without costing them a fortune.

The course includes information obtained from the California Department of Real Estate, California Association of REALTORS® which is where the forms were obtained; the National Association of REALTORS® and information was obtained on the CalVet program from the California Department of Veterans Affairs. We have used the content references from websites including www.dre.ca.gov; www.car.org; www.nar.realtor; www.calvet.ca.gov and others.

DELIVERY METHOD: The correspondence course includes downloadable PDF course materials and the exam will be administered online. Students will be expected to read each lesson and complete the accompanying exercises and the final exam.

REFUND POLICY: All tuition and fees paid for the course are due and refundable when: (a) the course of instruction is discontinued by the school, preventing a student from completing the course; OR (b) the enrollment of student was procured because of any misrepresentation in advertising, promotion materials of the school, or representation made by an owner or employee of the school. All refunds will be completed within 30 days after the effective date of enrollment termination.

VALIDATION REQUIREMENTS: Our authentication system incorporates a mechanism for preventing fraud by ensuring that the student registered for the course is engaged in the course material. During course enrollment, students create a personal registration profile by entering personal information on a secure page so that the provider may process certification. The required information may include driver's license number, address, and form of payment. During registration, the system also prompts the user for additional personal validation information used during the course: "How many doors does your vehicle have?" / "How did you renew your driver's license last?" / etc.

Randomly, the user is prompted with a personal validation question at several points during the course; these questions are based on the answers provided by the student during registration. Additionally, the questions are timed and must be answered correctly for the trainee to proceed with the course. If the question supplied is incorrect, the course is temporarily suspended and the trainee is prompted to call the provider to explain why they failed validation. Their information is verified by a trainer who can then remotely unlock the course to allow the student to proceed with the coursework. If this personal information is not verified, the provider will suspend the student from any further access, refund any tuition payments collected and take the appropriate administrative enforcement actions. This validation sequence is enforced randomly on multiple occasions upon entering, taking and exiting the course.

Correspondence Course Identification Statement:
Participants shall present one of the following forms of identification immediately before the administration of the final examination:
A. A current California driver's license.
B. A current identification card described in Section 13000 of the California Vehicle Code.
C. Any identification of the participant issued by a governmental agency or a recognized real estate related trade organization within the immediately preceding five years which bears a photograph, signature and identification number of the participant.

COURSE CONTENT / TIME LIMITS: This home-study course consists of spending a minimum of 45 hours reading and studying the course material, taking the lesson/module quizzes, and passing a final examination. The final examination can be taken a minimum of 18 days from the date the student has had access to the course materials. No two courses can be completed in less than five weeks. Students must spend a minimum of 2.5 weeks studying each course. The maximum time students have complete a course is one year from the date of registration. If students fail the final examination, they can take an alternate final examination one time. However, students must wait a minimum of another 18 days studying the course materials before they can re-take the final examination. If students fail the final examination two times, they will need to re-enroll in the course and pay the enrollment fee.

FINAL EXAMINATION: The proctored final exam is closed-book and consists of 100 multiple choice questions. Students are allowed 1 hour and 40 minutes to complete the final exam and need to score a minimum of 60% to pass. Internet final exams can not be printed or downloaded, and the exam will automatically time-out at 1 hour and 40 minutes (or 100 minutes). Under no circumstances shall the final exam be furnished directly to the students.

Please note that the student will have (2) chances to take the final exam.

As required by California Department of Real Estate regulations, if you do not pass the exam on the first attempt, you must wait a minimum of 18 days before you will be allowed to retake the exam.

COURSE COMPLETION CERTIFICATES / RECORDS: Course completion certificates will be issued immediately upon passing the final examination (to be printed by the student). Records of course completion certificates will be maintained indefinitely to allow students to receive a duplicate certificate if needed.

PROBLEMS / COMPLAINTS: Persons seeking to resolve problems or complaints should contact 360training.com, Inc. at the address or telephone number above or visit the http://www.360training.com/support page.

A course provider complaint form is available on the California Department of Real Estate (DRE) website at www.dre.ca.gov. Access this form by typing in "RE 340" in the search box located in the upper right corner of the home page. An informational form regarding course provider complaints, "RE 340A" is also available.

EVALUATION: A course and instructor evaluation is available on the California Department of Real Estate (DRE) website at www.dre.ca.gov. Access this form by typing in "RE 318A" in the search box located in the upper right corner of the home page.

DISCLOSURE STATEMENT: Private providers of pre-license statutory real estate courses must obtain course approval from the California Department of Real Estate (DRE). As part of the approval process, the DRE reviews the course materials only. The DRE does not qualify the school or course provider. In addition, there is no regulatory oversight of private pre-license course providers who offer courses or programs costing $500 or less. For courses or programs over $500, qualification by the Bureau for Private Postsecondary and Vocational Education is required, in addition to DRE course approval. As a result, if a course provider offering a course costing $500 or less fails to deliver the educational course/program as represented, a student's monetary remedy is to seek redress in Small Claims Court. Students are cautioned to fully understand the education course/program offered by the provider before enrolling or registering. A list of pre-license statutory courses approved by the DRE can be found on the DRE Web site at www.dre.ca.gov under DRE Records.

DRE DISCLAIMER STATEMENT: This course is approved for pre-license education credit by the California Department of Real Estate. However, this approval does not constitute an endorsement of the views or opinions which are expressed by the course sponsor, instructors, authors, or lecturers.

PLEASE BE ADVISED: The California Department of Real Estate (DRE) encourages salesperson and broker exam applicants to mark the "Self Schedule" box on the Salesperson Exam Application (RE 400A), Broker Exam Application (RE 400B), Salesperson Combination Exam/License (RE 435), or Broker Combination Exam/License (RE 436) when submitting these document to the Department. This "Self Schedule" option allows for the Department to notify an applicant when his or her application has been fully qualified and is ready to be self scheduled for an exam date using our eLicensing system on our website, www.dre.ca.gov. The eLicensing system provides greater flexibility when choosing exam dates, offers same day scheduling provided that space is available, and allows the applicant to print a barcoded exam schedule and admittance notice.

When Does My Course Expire?

Your course will expire one (1) year after you purchase it (the date you submit payment), unless the course itself indicates otherwise.

For more information about course expiration dates, please read Terms of Use.

How Quickly Will I Get My Certificate of Completion?

Once you finish your course and pass any required exams, you can print your certificate of completion right away.

What Can I Do If I Lose My Certificate?

If you lose your certificate of completion and need a new one, you can contact customer service at (877) 881-2235 or support@360training.com.

What If I Need a Refund for My Training Course?

If for some reason you are not happy and would like a refund, send us a request within 72 hours of purchase. Here are the eligibility requirements you must meet:

• Your purchase was made no more than 72 hours prior to your refund request.
• You have NOT
  • Attempted any portion of a test or exam.
  • Requested or been issued a certificate of completion.
  • Completed 50% or more of the purchased course.

If you meet all of these criteria, submit your refund request in writing via email to support@360training.com with a proof-of-purchase receipt and an explanation for why you are requesting a refund.

You can find more information about our refund policy here.