Course
Syllabus
Ohio Real Estate Course Syllabus.
30 hours Renewal Package #1
This package consists of the combination of courses below each of which must be completed to obtain the total credit hours.
- 3 hours Core Law
- 3 hours Civil Rights and Fair Housing
- 3 hours Ethics
- 3 hours How to Keep You & Your Broker Out of Court
- 6 hours Real Estate Matters
- 6 hours Keys to Commercial Real Estate
- 6 hours Investment Real Estate
Approved by the Ohio Department of Commerce Division of Real Estate & Professional Licensing
3 hours Core Law Course Syllabus
Basics of Contract Law
Learning objectives for the licensee include:
- Learning the Basics of Contract Formation.
- How We Discharge our Contractual Duties.
- Learning the Remedies for Non-performance.
Agency
Learning objectives for the licensee:
- Learning the General Principles of Agency Law
- Understand the Fiduciary Duties the Agent owes to the Principal
- Describe what a listing agreement is and the types that are used.
New Agency Law: Senate Bill 106
Learning objectives for the licensee:
- New Agency Law: Senate Bill 106
- Agency & Dual Agency Disclosure Statement
- Management Level Licensees
3 hours Civil Rights and Fair Housing Course Syllabus
Federal Civil Rights
Learning objectives for the licensee:
- Understand the purpose of the Federal Fair Housing Laws and be able to identify the protected classes covered by the Fair Housing Act.
- Describe the essential facts of the Fair Housing Act pertaining to the sale and rental of housing and mortgage lending and list the types of housing covered.
Ohio Civil Rights
Learning objectives for the licensee:
- Describe the Ohio Civil Rights Law
- Understand the Origin of Desegregation
- Comprehend Ohio's unlawful discriminatory practices 4112.02
Americans with Disabilities Act ("ADA")
Learning objectives for the licensee:
- Learn why the ADA was created and state who is covered
Lending Practices
Learning objectives for the licensee:
- Describe the laws relating to fair lending and explain subprime lending terms and responsible lending principles.
- Explain the purpose of the Home Ownership and Equity Protection Act and how it applies to loans.
Case Studies
Learning objectives for the licensee:
- Describe seven Fair Housing court cases and their ruling outcomes.
3 hours Ethics Course Syllabus
Ohio Canons of Ethics
Learning objectives for the licensee:
- Understand the Ohio General Duties to the Public and Industry Articles 1 - 6
- Comprehend the Specific Duties to Clients and Customers Articles 7 - 16
- Describe the Duties to Fellow Licensees Articles 17 - 19
NAR Canons of Professional Ethics
Learning objectives for the licensee:
- Understand the Origins of the Code of Ethics
- What is the Preamble to the Code of Ethics?
NAR Duties to Clients and Customers: Articles 1 - 9 with case studies
Learning objectives for the licensee:
- Understand Article 1
- Comprehend Article 2
- Be aware of Article 3
- Grasp Article 4
- Recognize Article 5
- Describe Article 6
- Be familiar with Article 7
- Have knowledge of Article 8
- Explain Article 9
NAR Duties to the Public Articles 10 - 14 with case studies
Learning objectives for the licensee:
- Describe the Duties to the Public Articles 10 - 14
NAR Duties to REALTORS®: Articles 15 - 17 with case studies
Learning objectives for the licensee:
- Realize the Duties to REALTORS®: Articles 15 - 17
3 hours How to Keep You & Your Broker Out of Court Course Syllabus
Risk Management
Learning objectives for the licensee:
- Have a good understanding of the Sherman Anti-Trust Act and why the real estate industry is a likely candidate for the three most common violations.
- Understand why documentation in a real estate transaction is important and further your ability to provide documentation and reduce your risk.
- Describe the Importance of Mastering the Laws of Agency.
- Explain the importance of sellers disclosures and the role of the sellers and their agent in producing the disclosure.
- Be able to describe the different types of misrepresentation.
- Have a working knowledge of some common environmental issues as they relate to the real estate industry.
- Know the advantages of using your broker as a resource.
- Shifting the Risk to Professionals.
- Understand the importance of Errors and Omissions Insurance.
- Have a good understanding of the value in the use of standardized forms.
- Learn why RESPA was created and the protection it provides.
- Learn the proper way of handling of earnest money.
6 hours Real Estate Matters Course Syllabus
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;
- Mold and mildew,
- Asbestos,
- Lead based paints, and
- 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.
6 hours Keys to Commercial Real Estate Course Syllabus
Basic Differences Between C/I Real Estate and Personal Use Real Estate
Topics covered in this chapter include an introduction to commercial an investment real estate, a comparison of investment real estate with personal use real estate. There is also a discussion of the real estate market place and how real estate operates in an imperfect market. Learning objectives for the licensee include:
- Know the differences between commercial and investment real estate practice.
- Understand the nature of the commercial and investment real estate market.
- Explain the difference between a perfect market and how commercial and investment real estate works in an imperfect market
Forms of Group Ownership in Commercial and Investment Real Estate
Topics include a discussion of the benefits of group ownership compared to individual ownership and the common legal entities encountered in the ownership of commercial and investment real estate including limited partnerships, limited liability companies (LLC). In addition there is a thorough discussion of federal securities laws and various exemptions available in commercial and investment real estate investment groups. Learning objectives for the licensee include:
- Define the different ownership forms found in the commercial and investment real estate marketplace.
- Learn the difference between a General Partnership and a Limited Partnership.
- Become familiar with use of Limited Liability Companies (LLCs) in commercial and investment real estate.
- Recognize when the security rules apply to commercial and investment real estate.
Basic Lease Clauses Used in C/I Real Estate
Topics in this chapter include an introduction to the lease in commercial and investment real estate and a thorough listing and discussion of common clauses found in commercial and investment real estate leases. The discussion of the commercial lease is important for both the user broker or agent and the investment broker or agent. Learning objectives for the licensee include:
- Learn the importance of the lease to the relationship between the landlord and the tenant in commercial and investment real estate.
- Be familiar with the common provisions found in a lease in commercial and investment real estate.
Basics of Financing C/I Real Estate
Topics to be covered in this chapter include an introduction to financing in commercial and investment real estate and the types of loans found in the marketplace. Lender rules of thumb, such as Loan to Value (LTV), Debt Coverage Ratio (DCR) and loan constant are covered and calculated. There is also discussion of the concept of financial leverage, including positive, negative and neutral leverage. Learning objectives for the licensee include:
- Define the types of loans available in the commercial and investment real estate marketplace.
- Learn common lender terminology that applies to commercial and investment real estate.
- Understand the concept of leverage.
- Be able to calculate the rules of thumb lenders use in the commercial and investment real estate marketplace.
Basic Financial Rules of Thumb Used in C/I Real Estate
Topics in the chapter include a discussion of the common rules of thumb found in the practice of commercial and investment real estate including cost per square foot, Gross Rent Multiplier (GRM), capitalization rate, and the cash on cash return. The strengths and weakness of each rule of thumb are discussed. Learning objectives for the licensee include:
- Learn the rules of thumb commonly used by investors in the commercial and investment real estate marketplace.
- Be able to calculate the rules of thumb commonly used by investors in the commercial and investment real estate marketplace.
Basic Cash Flow Analysis in C/I Real Estate
In this chapter we introduce three basic forms used to evaluate an investment in commercial and investment real estate. The Annual Property Income form, the Multi-Year Cash Flow form and the Sales Proceeds form are introduced and used by the student to complete a multi year before tax cash flow analysis of an investment property in the Emily Bridger Case Study. Learning objectives for the licensee include:
- Understand and use the Annual property Income form.
- Understand and use the Multi-year Cash Flow form.
- Understand and use the Sales Proceeds form
- Apply the three forms to an actual case study.
6 hours Investment Real Estate Course Syllabus
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 Financing Investment Real Estate
Desired Learning Objectives:
- Understand why investors use financing.
- Identify the types of loans used to purchase investment property.
- Become familiar with two lender rules of thumb used in investment real estate.
- What is leverage?
- The agent who wishes to become involved in investment real estate will need to understand financing.
Basic Financial Analysis Agents Use in Investment Real Estate
Desired Learning Objectives:
- Learn the common investor rules of thumb found in the market place.
- Basic Cash Flow Analysis in C/I Real Estate.
- Case Study