Real Estate Practice

GENERAL INFORMATION

REL: Real Estate and Loan School

Website: www.MaryShoane.com

Email: [email protected]

Office: (408) 264-1761

Course Description

This Correspondence Course provides you with specific laws, regulations and requirements to assist you in bettering your practice. Emphasis on day-to-day practical knowledge needed by persons engaged in real estate business; procedures, forms, contracts, licensing laws. Also this course has a component in Implicit Bias and Fair Housing, which is required for completion via interactive training online. (45 hours) (Sponsor #S0408)

Required Text and Material:

  • California Real Estate Practice by Realty Publications Inc., Copyright@2023, 8th edition, Riverside, CA 95127. Pages 596
  • Implicit Bias, Realty Publications Inc., Copyright@2023

Course Objectives:

  • Have a clear understanding of real estate as practiced in the field
  • Be able to utilize concepts learned and apply them to practicum
  • Fee: $95
  • Method of Presentation: Correspondence Course

Course Outline

Chap 1 - 7 Brokerage activites; MLS Environment; Subagency vs. Dual Agency Quiz #1 5 Hours
Chap 8 - 11 Exclsusive right to sell; Withdrawal or termination of an exclusive listing Quiz #2 3 Hours
Chap 12 - 19 Safety clause; Transparency in marketing; Buyer's listing agreement; Breaching buyer pays Quiz #3 6 Hours
Chap 20 - 23 Seller's agent and the prospective buyer; Condition of property; Owner's disclosures Quiz #4 3 Hours
Chap 24 - 27 Home inspection; Natural hazard disclosures by seller's agent Quiz #5 3 Hours
Chap 28 - 32 Structural pest control reports; Environmental and lead-based paint disclosures Quiz #6 4 Hours
Chap 33 - 38 Income property's operating data; Disclosure on seller carrybacks; Seller's net sales proceeds estimate; Buyer's estimated acquisition costs Quiz #7 4 Hours
Chap 39 - 42 Acceptance of an offer; Counter offer; Elimination of contingencies Quiz #8 3 Hours
Chap 43 - 47 Cancellation excuses; Seller's breach; Breaching buyer's responsibilities Quiz #9 4 Hours
Chap 48 - 51 Liquidated damage; Arbitration; Income property and exchange Quiz #10 3 Hours
Chap 52 - 56 A formal exchange; Real estate purchase options; Going to escrow Quiz #11 5 Hours
Implicit Bias Chapter 1: Introduction to implicit bias: probing below the surface Quiz 1 10 min
Chapter 2: State and federal housing laws: Identifying the explicit and the implicit. Pt I Quiz #2 9 min
Chapter 3: State and federal fair housing laws: Identifying the explicit and the implicit. Pt II Quiz #3 9 min
Chapter 4: Access to homeownership and the wealth gap Quiz #4 9 min
Chapter 5: The economic drawbacks of implicit bias Quiz #5 9 min
Chapter 6: Avoid the risk of discrimination in advertising Quiz #6 9 min
Chapter 7: Avoid the risk of discrimination in advertising Quiz #7 9 min
Chapter 8: Helping clients gain mortgage approval Quiz #8 9 min
Chapter 9: Disability status and source of income Quiz #9 9 min
Chapter 10: The inclusive brokerage Quiz #10 9 min
Chapter 11: The importance of financial literacy Quiz #11 9 min
Fair Housing Interactive Role-Play Session "Access for All: A Fair Housing Game" 20 min
Total Hours 45 hours

How to Get Started:

  • • Upon enrollment, the student will be provided with either an E-Book or hard copy book for the course. o There are 11 Quizzes and answer key, which are in the back of the book. o A 60% or better on each quiz is advisable.
  • • When the student has taken all the 11 quizzes, s/he will begin on the Implicit Bias component.
  • • • There will be a separate E-book for Implicit Bias reading material to accompany “Access for All: A Fair Housing Game”, an on-line video and interactive component. Student must complete the E-Book and the video “A Fair Housing Game” before s/he is eligible for the final exam.
  • o The interactive component "A Fair Housing Game" will be completed on-line. A link will be provided to the student once s/he is enrolled in the course.
  • o o The E-Book “Implicit Bias” has 11 segments with a quiz at the end of each segment. Try to score at least 60%.
  • o Mandatory: “Access for All: A Fair Housing Game”. The goal is to have a positive outcome for each transaction.
  • o Once the Interactive component is completed, notify REL, upon which time REL will provide the final exam to the test administrator.

Final Exam

Final Exam Instructions:

  • Open Book, 2-1/2 hours, 100 multiple choice questions. 60% or better passing score. 
  • Students will select an exam proctor who is not related by blood, marriage, domestic partnership, or any other relationship to the student which would influence them from properly administering the exam.
  • The exam proctor will be given a “Test Administrator” form to complete, sign, and return to REL either by mail or in person, along with the exam and answer sheet.

 Identification before the Administration of the final examination:

  1. A current California driver’s license.
  2. A current photo issued by the government such as a driver’s license, green card, or passport.
  3. A current identification card described in Section 13000 of the California Vehicle code
  4. Any identification of the participant issued by a government agency or a recognized real estate trade organization within the immediately preceding five years which bears a photograph, signature and identification number of the participant.

The 2-1/2 week rule:

  • There is a 2-1/2 week (18 days) waiting period between the last exam and the next exam.

Department of Real Estate allows this course to be completed in a MINIMUM time of 2-1/2 weeks (18 calendar days) from your date of enrollment.
1 2-1/2 weeks
2 5 weeks
3 7-1/2 weeks

Re-Take the Final Exam

  • What happens if the student fails the exam?

If the student fails the final exam, a re-examination is allowed, only after the 2-1/2 week from the last exam date. There will be a charge of $25.00 for re-examination

TRANSCRIPT

REL will maintain records sufficient to issue a duplicate completion certificate upon request.  If you are going to take more than one course from REL, we will furnish one course completion certificate at the conclusion of your last course, showing all courses completed.  If you request or require a copy of your certificate at a later date, there will be an additional charge of $20.00 per additional certificates

EXTENSION POLICY:

  • Extension of Course:

Should the student not be able to complete and pass the course within one year from the date of registration, s/he can apply for a one-time, 3-month extension from the date the course expired for a re-enrollment fee of $100.

What is the time frame for the completion of the course?

 The student has one year (1 year) from the date of registration to complete and pass the course

CANCELLATION AND REFUND POLICY

If the student is not completely satisfied with the course, s/he can simply return all the materials in its original, new condition (at the discretion of REL) to REL within 5 calendar days from the date of enrollment and receive a refund, less a one-time set-up fee of $75.  All cancellation must be made in person or by certified mail. Cancellation will not be accepted on the 6th calendar day from the date of the enrollment

On-Line Evaluation:

Course & Instructor Evaluation: The Department of Real Estate has a course and instructor evaluation available on line. When the student has completed the Real Estate Practice course, s/he is advised to complete the evaluation form by going to www.dre.ca.gov and access this form by typing RE318A in the search box.

Department of Real Estate Sponsor ID S0408

Course Provider Complaint Statement: A course provider complaint form is available on the Department of Real Estate website at www.dre.ca.gov. Access this form by typing in “RE 340” in the search box.

Department of Real Estate Disclaimer Statement:

This course is approved for pre-license education credit by the 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.

Applying for the State Exam:

  • When you have completed this course, you will be issued a Certificate of Completion.
  • Once you have passed all three courses: Principles, Practice, and an Elective, you are ready to take the State exam.
  1. Go to www.dre.ca.gov
  2. Click on EXAMINEES
  3. Click on How to apply for Salesperson Exam
  4. Click on California Salesperson Exam Application (RE400A)
  5. Submit this form with current fee by visiting www.dre.ca.gov

Preparing for the State Exam:

Here are some tips to preparing for the State exam are as follows:

  • Do not mark the tests; put your answers on a separate sheet of paper. This will allow you to retake the test later.
  • Always take the tests as test. Do not look up any answers until you have completed the entire practice test. Many questions on the State Exam are sound-a-like question. They have several answer choices which sound very similar, but are in actuality quite different. You must learn the concepts behind the questions. Do not just memorize questions and answers.
  • Read the questions carefully. Be sure you know what the question is asking before you select an answer. Many questions are missed simply because the thrust of the question is missed.
  • Do not look for the perfect answer. There might not be one! Often you will be looking for the answer choice which is most right or least wrong.

Textbook Recommendations:

  • California Real Estate Exam Preparation by William Pivor, On Course Learning, 15the
  • California Real Estate Practice Exams for the Salesperson License Exam by Thomas Felde, Thomson/South-Western
  • California Real Estate Exam prep. The Smart Guide to Passing 2nd e by Thomas Felde, On Course Learning.

What to do after Passing the State Exam:

When you have passed the State exam, the Department of Real Estate will be mailing  you a packet with forms  and instructions to complete.

  1. Salesperson License Application (RE202)
  2. Live Scan Service Request (RE237) (fingerprinting)
  3. Proof of Legal Presence

Mandatory Courses and Electives:

Effective October 1, 2007, a person must complete three (3) real estate classes before applying for the real estate salesperson exam. Exempt from this requirement are attorneys and persons qualified to take the broker exam. A new legislation is to be approved in which a broker must have at least 2 years supervised experience before applying for the broker license. The other courses besides Principles are as follows:

Real Estate Principles (mandatory)

Real Estate Practice (mandatory)

Electives:

Real Estate Finance

Real Estate Appraisal

Property Management

Real Estate Economics

Legal Aspects of Real Estate

Real Estate Office Administration

Business Law

Escrow

Common Interest Development

Computer Application and Real Estate

Accounting