Ohio 6 hours Real Estate Matters course.

Approved by the Ohio Department of Commerce Division of Real Estate & Professional Licensing

The ability to understand what drives the formation, growth and decline of U.S. cities will allow the real estate agent to better predict the changes in demand for residential real estate. When the agent can better predict the changes in the demand for residential real estate they can be of better service to the public and they can be more effective in their own real estate investment decisions.

To provide the best services for today’s more discerning consumers, today’s professional real estate agent must be able to navigate a number of legal areas such as assuring that there has been an effective contract formation, understanding the various written agreements encountered, and being aware of the current issues in real estate and environmental law.

Understanding Cities

Desired Learning Objectives:

• Learning the purpose behind the U. S. Census Bureau
• Gaining a General Overview
• Understanding the Concept of Urban Areas
• Why Cities are Different Sizes and Shapes
• Understanding that it all starts with jobs
• Understanding the Results of Changes in Employment
• Other Causes of Growth, Stability or Decline in Cities

Demand for Real Estate

Desired Learning Objectives:

• Understand the Gap formula for housing units.
• Buy/Rent Decisions.
• Learn about Multi family rental housing.

Information on Ohio

Desired Learning Objectives:

• Learn about major urban areas and their trends within Ohio.

When a Residential Agent Works with Investment Real Estate

Desired Learning Objectives:

• Understand the different ways users and investors look at real estate.
• Recognizing common agent activities in investment real estate.
• Recognizing the misconceptions about investment real estate business.
• Understand the differences between investment real estate and residential real estate.
• What is a market area for investment real estate?

The Types of Properties Investors Buy

Desired Learning Objectives:

• Understand that there are differing degrees of complexity among property types.
• Understand residential investment properties.
• Understand office buildings.
• Understand retail properties.
• Understand industrial properties.

Basics of Demand for Investment Properties

Topics covered in this chapter include a general development cycle for commercial and investment real estate within a community, and a discussion of the factors that drive the demand for each of the four major property types: multi-family, office, retail and industrial. Various methods of how to determine a market area for a property are described along with a listing of items to include in a basic marketing brochure. Learning objectives for the licensee include:

• Learn what factors determine the demand for properties in each of the four major property types.
• Become familiar with common models used in the commercial and investment real estate market to quantify demand for the properties in each of the four major property types.
• Understand the effect of supply and demand on the commercial and investment real estate market.

Environmental Issues and Disclosures (Federal)

Understanding environmental issues and knowing the disclosures that are required to be made by sellers and their agents to buyers, landlords, tenants, and lenders are important to real estate professionals who practice in the area of residential real estate. Consumers are concerned with health and safety issues. Correct information from real estate agents is demanded by the public. Four areas of particular importance to agents today are covered in this course;

1. Mold and mildew,
2. Asbestos,
3. Lead based paints, and
4. Radon gas.

Learning objectives for the licensee include:

• Learn the basic issues and disclosures related to mold and mildew.
• What do we know about asbestos fibers?
• Understand the dangers of lead-based paint.
• Learning about radon gas.