Real Estate Practice

GENERAL INFORMATION: REAL ESTATE PRACTICE (POLICIES AND PROCEDURES)

Course Description

This 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; State of California Code of Professional Responsibility; and NAR Code of Ethics. (45 hours)

Required Text and Material:

  • California Real Estate Practice by Robert L. Herd and Bruce A. Southstone, 3e, On Course Learning

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

Course Outline

Chap 1 Starting your real estate career Quiz #1 3
Chap 2 Choosing the right broker Quiz #2 3
Chap 3 Ethics, Fair Housing, and RESPA Quiz #3 3
Chap 4 Disclosures Quiz #4 3
Chap 5 Lead Generation or Prospecting for clients Quiz #5 3
Chap 6 Working with buyers Quiz #6 3
Chap 7 Real Estate Financing Quiz #7 3
Chap 8 Writing effective purchase contracts Quiz #8 3
Chap 9 Preparing for the listing appointment Quiz #9 3
Chap 10 The listing presentation Quiz #10 3
Chap 11 Servicing the listing Quiz #11 3
Chap 12 Escrow and title insurance Quiz #12 3
Chap 13 The life of an escrow Quiz #13 3
Chap 14 Real estate taxation issues Quiz #14 3
Chap 15 Advertising and marketing Quiz #15 2
Chap 16 Alternative real estate careers Quiz #16 1
Total Hours 45

Quizzes:

  • At the end of each chapter, you will be asked to answer a list of questions. Check the answers provided for you for accuracy at the back of the book. You should be scoring at least 60%.

Final Exam

Open Book, 2-1/2 hours, 100 multiple choice questions. 60% or better passing score.  Students will take the final exam with a proctor. Students may contact REL, Real Estate and Loan School and request a convenient location, date, and time for the final exam and the student may also suggest the proctor or entity to administer the final exam. The exam administrator cannot be related by blood, marriage, domestic partnership, or any other relationship to the student which would influence them from properly administering the exam. The exam administrator will be given a Test Administrator Instructions to complete, sign, and return to REL either by mail, fax, or in person.

Bureau of Real Estate (BRE) 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
4 10 weeks
5 12-1/2 weeks
6 15 weeks
7 17-1/2 weeks
8 20 weeks

Re-Take the Final Exam

If you fail the course final examination, you must re-register for the course and the 2-1/2 week minimum completion time limit would again apply. There will be a charge of $25.00 for re-registration and to have your final exam mailed. 

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:

Should you not be able to complete this course within one (1) year of the date of enrollment, (for any reason, no exceptions) there is a one-time re-enrollment of $100 for a 3-month extension.

CANCELLATION AND REFUND POLICY

If you are not completely satisfied with the course, simply return all materials unused to REL within 10 calendar days from the date of enrollment and receive a full refund less a non-refundable one-time set up fee of $100 (1-pack); $150 (2-pack); $220 (3-pack) plus a processing fee.  If the materials returned are used, an additional fee will be deducted. No refund if a Final Exam has been requested. All cancellation must be made in person or by certified mail.  The postmark will determine the validity of your request. Cancellation will not be accepted on the 11th calendar day from the date of enrollment; thus, there is no refund.

All textbooks must be returned to the school, IN GOOD AND USABLE CONDITION*, at the time of request for cancellation.  If you do not return the material supplied by the school at that time, the school may keep an amount out of what you paid that equals the price of the textbooks and workbooks for the course. The school will refund any amount over that as provided above.

*Good and usable condition means that the textbook is unmarked and undamaged by shipping. It shall be the responsibility of the student to package and ship the course material in such a manner as to assure compliance.

Special Note: The above refund policy does not include textbooks that are no longer current. This means that if the book has changed, it will be considered when calculating your refund. Textbooks are subject to change without notice.

On-Line Evaluation:

A course and instructor evaluation is available on the California Bureau of Real Estate (CalBRE) website at www.dre.ca.gov. Access this form by typing in RE318A in the search box located in the upper right corner of the home page.

CalBRE Sponsor ID S0408

This course is approved by California Department of Real Estate and California Bureau of Real Estate.

CalBRE Disclaimer Statement:

This course is approved for pre-license education credit by the California Bureau 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, BRE 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