GRADING  SYSTEM

GENERAL  REQUIREMENTS
1. Read the textbook material.
2. Prepare yourself for course examinations.
3. Take three examinations during the semester on the established schedule.
4. Know examination review prior to testing.
5. Completion of  both class exercises.

EXAMINATIONS
1. Exams consists of multiple choice and true-false questions
2. Exam value:
       Exam I = 20% of grade
       Exam II = 20% of grade
       Final Exam = 30% of grade

       A = 90-100%
       B = 80-89%
       C = 70-79%
       D = 60-69%
       F = 59% and below

3. Examination questions will be taken from textbook material, required assignments and course
    documents. Missed Tests or Late Work must be approved by Instructor.
 

4. Class Exercises
       Analysis Form: Texas Real Estate License Act = 15%
       Mathematics Problems = 15%

5. Course Grade Average

      A = 90-100%
      B = 80-89%
      C = 70-79%
      D = 60-69%
      F = 59% and Below

REQUIRED TEXTBOOK/MATERIALS: MODERN REAL ESTATE PRACTICE IN TEXAS, 18th Edition by Cheryl Peat Nance. ISBN # 978-1-4754-6376-7. All Instructor Course Documents.REQUIRED TEXTBOOK/MATERIALS: MODERN REAL ESTATE PRACTICE IN TEXAS, 18th Edition by Cheryl Peat Nance. ISBN # 978-1-4754-6376-7. All Instructor Course Documents.

RELE 1406  PRINCIPLES OF REAL ESTATE

COURSE  OUTLINE:  SPRING  SEMESTER  2024

Unit 1 – Introduction to Modern Real Estate Practice – 1/17/24

                        Real Estate Profession
                        Laws Governing Real Estate
                        Professional Organizations
                        Characteristics of Real Estate
                        Real Estate Value
                        Factors Affecting Supply and Demand
                        Business Cycles                         
                
 Unit 2 – Real Property – 1/17/24

                        Define Land,  Real Estate,  Real Property
                        Real vs. Personal Property
                        Fixtures

Unit 3 -  Concepts and Responsibilities of Home Ownership – 1/17/24 

                        Home Ownership
                        Housing Affordability
                        Taxes Benefits for Homeowner                                      

Unit 4 – Real Estate Brokerage and Law of Agency – 1/24/24

                        Law of Agency
                        Creation and Termination of Agency
                        Agency  Positions and  Disclosure
                        Buyer Representation Agreement Contract
                        Brokerage Business
                        Texas Deceptive Trade Practices Act                                       

Unit 5 – Fair Housing Laws  - 1/31/24

                        Equal Opportunity in Housing
                        Fair Housing Acts – 1866 – 1968 – 1974 – 1974 – 1988
                        Housing Discrimination
                        Exemptions
                        HUD Regulations
                        ADA
                        Texas Fair Housing Laws and Enforcement
                        Federal Fair Lending Laws
                        Fair Housing Advertising
                        HUD Poster
                        

Unit 6 – Ethical Practices as a License Holder – 1/31/24 

                        Professional Ethics
                        Canons of Professional Ethics and Conduct
                        NAR Code of Ethics
                  
Unit 7 – Texas Real Estate License Act -  2/07/24        

                        Purposes of License Act                                                                    
                        Texas Real Estate Commission
                        Basic Provisions of License Act
                        Texas Real Estate Act ( TRELA )          
                        Texas Occupational Act - Chapter 1101                 

Unit 10 – Interest in Real Estate - 2/07/24

                        Government Powers Over Private Ownership
                        Freehold Estates in Land
                        Encumbrances
                        Water Rights
                                           
                     
 Unit 11  – How Ownership is Held -   2/14/24  

                        Forms Of Ownership
                        Ownership in Severalty
                        Co-Ownership
                        Trusts
                        Business Ownership
                        Cooperative and Condominium Ownership
                     

SEMESTER  EXAMINATION I  -  2/21/24

                        60 Multiple Choice Questions

                        40 True – False Questions 

Unit 8 – Legal Descriptions – 2/28/24 

                        Metes and Bounds
                        Recorded Subdivision Plat
                        Surveys
                        Elevations
                        Land Measurements

Unit 10 – Liens – 2/28/24

                        Effect on Title
                        Priority of Liens
                        Ad Valorem Taxes                                             

Unit 9 – Real Estate Contracts – 2/28/24

                        Contract Law
                        Real Estate Business Contracts
                        Texas Real Estate Commission Promulgated Contract Forms

Unit 12 -  Listing Agreements – 3/06/23

                       Listing Property – Seller Representation
                       Listing Agreement Forms
                       Listing Agreement Contract – Exclusive Right To Sell – TAR
                       Property Disclosures and Notices
                       Seller’s Property Disclosure Notice

Unit 14 – Real Estate Appraisal – 3/06/24
     
                       Appraising
                       The Appraisal Process
                       Real Estate Value
                       Three Appraisal Approaches to Value
                       Pricing Property
 

Unit 15 – Real Estate Financing Principles –  3/20/24 & 4/03/24 
                    

                      Sources of Real Estate Loans
                      Loan Application and Form
                      Loan Repayment Plans
                      Conventional, FHA, VA and Texas Veteran Loans
                      Specialized Loan Programs
                      Government Influences in Lending
                      Federal Financing Legislation
                      Mortgage Theory – Lien or Title
                      Note – Evidence of Debt
                      Deed of Trust – Security for Debt
                      Mortgage Foreclosure
 

Unit 21- Estates, Transfers, and Titles – 4/03/24 

                      Voluntary Alienation
                      Types of Deeds
                      Involuntary Alienation
                      Estate Ownership
                      Testate
                      Intestate
                      Public Records and Recording
                      Evidence of Title
                      Abstract of Title with Lawyer’s Opinion
                      Title Insurance – Policy
            

Unit 13- Real Estate Math – 4/10/24
                     
                      Fractions
                      Percentages
                      Profit
                      Interest Charges
                      Loan Amortization and Discounting
                      Spacial Measurements
                      Prorating – Loan Interest and Taxes

Unit 22- Closing Procedures/Closing the Real Estate Transaction 4/10/24 

                      Preclosing Procedures
                      Conducting the Closing and Closing Agent and Place of Settlement
                      Real Estate Settlement and Procedures Act – RESPA
                      TRID Closing Disclosure

SEMESTER EXAMINATION II  -  4 /17/24

                      50 Multiple Choice Questions

                      50 True – False Questions

Unit 19- Leases – 4/24/24 

                      Leasing Laws
                      Leasehold Estates
                      Common Lease Provisions
                      Landlord and Tenant Act
                      Types of Leases

 

Unit 20- Property Management 4/24/24 

                      Property Management Profession Defined
                      Property Manager
                      Management Agreement
                       Management Cosiderations
                 
                  

Unit 17- Specializations – 4/24/24

                      Real Estate Brokerages Services
                      Real Estate Careers                

Unit 16-Control of Land Use – 4/24/24

                      Public Land- Use Controls - Zoning Ordinances and Building Codes  
                      Private Land-Use Controls – Deed Restrictions and Covenants
                      Environmental Legislation and Green Initiatives

Unit 18- Real Estate Investments – 5/01/24 

                      Investing in Real Estate – Pros and Cons
                      Tax Benefits for Investor
                      Trusts - REIT
                     
FINAL EXAMINATION  5 /08/24 

                     60  Multiple Choice Questions

                     40 True – False Questions

COURSE  OBJECTIVES/OUTCOMES:

DISCIPLINE:

1. Define real estate broker and sales agent licensing requirements.
2. Describe conveyance of real estate procedures and considerations.
3. Summarize real estate principles including law of agency, deeds, titles, legal descriptions,
     encumbrances, contracts ,appraisals, finance, regulations , laws governing real estate
     transactions and housing discrimination.         

INSTRUCTOR:

1. Prepare students to pass real estate licensing exams
2. Enable students to successfully compete in the real estate industry