Chabot College
October 2006
Course Outline for Real Estate 84
REAL ESTATE PRACTICE
Catalog Description:
84 – Real Estate Practice
3 units
Principles and practical techniques of operating a real estate business. Emphasis on daily activities
of brokers and salesperson; introduction to appraising, exchanges, listings, advertising, financing, and
marketing. Exchanges, specialized brokerage, property management, professional and public
relations. Prerequisite: Real Estate 80. 3 hours.
Prerequisite Skills:
Before entering this course, the student should be able to:
1. identify each of the steps and stages in a typical residential home sale;
2. list the services that a real estate agent provides to home buyers;
3. distinguish between real property and personal property;
4. list the three major methods used to describe land in legal documents.
5. describe the methods of holding title;
6. define the term “easement”;
7. list the different types of categories into which zoning ordinances divide a community;
8. define the term “eminent domain”;
9. explain the statute of frauds;
10. define the term “listing agreement”;
11. describe the agency relationship;
12. recall the four essential elements of value;
13. recognize the purpose and importance of an MAI appraisal;
14. differentiate between a “Seller’s” market and a “Buyer’s” market;
15. compare the advantages of renting to the advantages of buying;
16. solve capitalization problems using the capitalization approach to value.
Expected Outcomes for Students:
Upon completion of this course, the student should be able to:
1. identify and explain the different types of real estate agency relationships. be cognizant of the
establishment of a real estate business;
2. list the elements of listing agreements and property disclosures;
3. explain how California and federal regulations affect listings;
4. evaluate and price a property through a Competitive Market Analysis;
5. identify and describe effective prospecting practices;
6. identify and differentiate between types of contingencies in real estate transactions;
7. qualify a buyer for a property using accepted guidelines;
8. identify and discuss the different types of financing programs available to buyers;
9. describe the steps of the closing process;
10. identify the fundamentals of property management;
11. demonstrate a working vocabulary of real estate terminology.
Course Content:
1.
2.
3.
4.
5.
6.
7.
8.
9.
The real estate business
Listings
Advertising and marketing
The selling process
Financing
Exchanges and specialized brokerage
Property management and leasing
Taxes
Professional and public relations
Chabot College
Course Outline for Real Estate 84, Page 2
Fall 2007
Methods of Presentation:
1. Lecture
2. Films
3. Guest speakers
Assignments and Methods of Evaluating Student Progress:
1. Typical Assignments
a. Identify a market area that is in a rapidly changing stage of the real estate economic life
cycle. Explain the cause for this rapid change and how an owner of real estate or investor in
real estate might benefit from such rapid changes.
b. Meet with the planning and building department at your local city hall and secure projections
for short term developments, long range (future) developments and projects currently under
construction. Bring the result of this appointment to class for discussion.
c. Interview 6 property owners, explaining that you are a real estate student inquiring as to their
future plans for their real estate holdings. Also ask them what other real estate they own in
addition to their primary residence. Document your findings and bring to class for discussion.
2. Methods of Evaluating Student Progress
a. Examinations
b. Assignments
c. Final Examination
Textbook(s) (Typical):
California Real Estate Practice; Anderson, Otto & Prevar; 5th Edition, Dearborn Publishing, 2004
Special Student Materials:
None
JM/Sept2006
Revised 10/12/06, 11/3/06
RE84