hours

• 27 hours Residential Real Estate Matters
• 3 hours Current Issues in Washington Residential Real Estate Core 2010-2011

27 hours Residential Real Estate Matters Course Syllabus

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.

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.

Issues in Real Estate Law

Learning objectives for the licensee include:

• What do we call what we buy sell or rent?.
• Learning the four economic characteristics of land.
• Learning the three physical characteristics of land.
• Recognizing Various Right Obtained.
• Reviewing Various Legal descriptions.

Types of Written Agreements Used by Agents

Learning objectives for the licensee include:

• Understanding Purchase Agreements.
• Understanding Listing Agreements.
• Learning about buyer agency agreements.
• Understanding Option Agreements.
• Understanding Lease Agreements.
• Understanding Escrow Agreements.

What Do You Really Own?

Learning objectives for the licensee include:

• Understanding estates in land.
• Recognizing types of co-ownership of title.
• Studying co-ownership of space.
• How do we show evidence of our ownership.
• Limitations on a property owner’s rights.

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.

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

Tenant in Common (TICs)

Desired Learning Objectives:

• Be aware of the extremely high level of activity in the investment real estate market place.
• Understand the importance of the Tenant in Common Marketplace
• Realize the TICs are not a legal entity but a combination of fractionalized interests.
• Identify the areas where the IRS rules on Sec. 1031 Exchanges relate to the Tenant in Common ownership format.

Conflicts in TIC Transactions: Real Estate or Securities?

Desired Learning Objectives:

• Understand the conflicts in TIC Transactions: Real Estate or Securities?
• Understand TIC Interests and the Real Estate Industry.
• Know the current controversies.

Proposal for Real Estate Agents who wish to Sponsor TIC Transactions as Real Estate

Desired Learning Objectives:

• Proposal for Real Estate Agents who wish to Sponsor TIC Transactions as Real Estate.
• Learn the future of the TIC Industry.

3 hours Current Issues in Washington Residential Real Estate Core 2010-2011 Course Syllabus

Short Sales

Understand the:

• Operation of note and deed of trust executed by the seller at the time the seller received the loan and any short sale agreement offered by the lender
• Effect of a short sale, foreclosure and deed in lieu of foreclosure on the seller's credit rating
• Potential tax consequences of a short sale, foreclosure and deed in lieu of foreclosure
• Ability to effectively communicate with the lienholder(s) and loan servicing companies when representing sellers in a short sale.

Carbon Monoxide

Understand the:

• basics of Carbon Monoxide
• importance of keeping current with new legislation for both new construction and rental property installation

Labor and Industries Requirements

Understand:

• L and I requirements affecting real estate licensees and review the differences between real estate sales and property management
• the L and I requirements affecting designated brokers or real estate firms
• here to secure the current rates for real estate and property management business
• the benefits from L and I Insurance
• how to comply with the record keeping requirements of L and I
• where to get further information

Real Estate Licensing Law Relating to the Referral of Title Insurance Providers

Understand:

• the basics of a title insurance policy and who it is issued to.
• who to contact if a title company or licensee is in violation of the law regarding gifts.
• term "controlling interest" as it relates to licensees and title companies.

Home Inspector Referrals

Understand:

• the disclosures required with the new Jan 30, 2009 legislation regarding home inspection referrals
• the new requirements from the July 1, 2009 legislation
• the requirements of a brokerage for home inspector referrals
• what a familial and a business relationship in terms of home inspector referrals
• where to Find the Home Inspectors Standards of Practice Rules

Property Management and the Brokerage’s Policy

Understand:

• that real estate licensees cannot perform property management without approval from management.
• that property management is a real estate activity and that the designated broker has responsibility for property management activities performed by his or her licensee.
• the necessary agreements, record keeping and funds management procedures associated with property management as described by WAC-308-124D-215.