Pre-Licensing Course Information
Structuring of Pre-Licensing Courses
For each course you will receive a physical textbook, online final exam, and certificate of completion.
All courses allow self-paced studying that is NOT timed online! Students are eligible to complete each course in a minimum of 18 days and maximum of one year per a DRE Regulation (e.g., 3 courses x 18 days each = 54 days minimum). Each course requires the student to pass an online 100 question multiple choice final exam with a score of 60% or higher. All exams are open-book and have a time limit of three hours.
Real Estate Principles
Textbook: California Real Estate Principles by Bryan Church and Schyler Church (2019)
The best way to learn the principles of real estate is through an actual real estate transaction. Fundamental real estate concepts are discussed while they occur during the purchase of an existing single-family home, so students learn why they are learning the concept along with when and where it fits into an actual real estate deal. The principles of real estate are presented in the order they appear during a normal single-family home purchase transaction, so students can relate new terms and concepts to the actual real estate brokerage business. The book is organized around five main sections:
Overview is a brief look at the entire real estate transaction process, including before, during, and after the real estate transaction.
Before the Real Estate Transaction considers activities that occur prior to the real estate transaction. They include starting a career in real estate, working with buyers and sellers prior to the real estate transaction, agency relationships, ethics, and fair housing, property and estates in land, and real estate contracts: offer and acceptance.
During the Real Estate Transaction discusses the important activities that occur from the opening of escrow until escrow closes. They include opening escrow and the escrow process, disclosures, physical inspection contingencies, appraisal contingencies, financing contingencies, taking title to real property, and close of escrow.
After the Real Estate Transaction covers what happens after the close of escrow. It includes how real estate brokers and salespersons get paid, interim occupancy agreements, seller occupancy addenda, agent follow-up techniques, and how title insurance protects buyers, sellers, and lenders from title defects discovered after the close of escrow.
Other Important Real Estate Areas include real estate income properties and real estate taxation.
Real Estate Practice
Textbook: California Real Estate Practice by Bryan Church (2014)
The textbook examines why people by real estate, along with the listing and purchase agreements commonly seen by real estate agents who are brokering real estate in California. Disclosures are an important part of the real estate transaction, and may include the Real Estate Transfer Disclosure Statement, Agency Disclosure, and other essential disclosures required by California real estate law. The book investigates risk management techniques to help real estate agents perform tasks correctly to reduce liability and potential litigation. Financing, closing costs, escrow, title insurance, and taxation require in-depth technical knowledge to help the real estate agent to successfully represent clients in the marketplace. Along with technical knowledge, real estate agents must be able to prospect for new clients through active and passive prospective methods. Accordingly, real estate agents must understand the product they are selling. So, the book looks at single-family, multi-unit residential, and commercial leased investment properties. Lastly, agency, ethics, trust fund handling, and fair housing is covered to keep real estate agents up-to-date in these important subject-matter areas.
Textbook: California Real Estate Property Management by Bryan Church (2017)
The book investigates the day-to-day life of a property manager which includes everything from showing the property to prospective tenants, to signing lease agreements and performing tenant walk-thru inspections. Types of property managers are examined, along with property management plans and property management agreements. Tenant screening and finding prospective tenants are explored, along with lease agreements, security deposits, and tenant management issues—which include lease terminations and evictions. Records management, cost controls, and office procedures are studied to determine the best ways to increase profits for the property owner. Preventive, corrective, cosmetic, emergency, and deferred maintenance is covered in-light of their importance to profits during the holding period. Specific property types are investigated and include: single-family rental properties, condominium rentals, multi-unit residential properties, leased investments, and specialty properties.
Legal Aspects of Real Estate
Textbook: Legal Aspects of Real Estate by Realty Publications, Inc., 6th Edition (2016)
The textbook is an introduction to real estate law, including the nature, interests, and co-ownership of real property. Agency laws are investigated through agency duties, responsibilities, and liabilities. Contract law, real estate contracts, and alternatives to litigation are presented in-order to provide an understanding of the legal requirements inherent in real estate transactions in California. Title, escrow, financing, and land use controls are examined in-light of legal issues commonly seen by real estate agents. Lastly, civil rights, fair housing, and landlord/tenant law are considered within their legal frameworks.
Real Estate Appraisal
Textbook: California Real Estate Appraisal by Walt Huber, Levin P. Messick, and William Pivar, 5th Edition (2018)
The book provides an understanding of value, including the appraisal process, data collection, analysis, and site valuation. The three appraisal approaches are presented, including the cost approach, sales comparison approach, and income approach to value. Lastly, reconciliation of appraisal approaches, final estimate of value, and the appraisal report are covered in-light of their importance to the overall appraisal process.
Real Estate Economics
Textbook: Real Estate Economics: Realty Almanac 2018-202 by Realty Publications, Inc. (2018)
The textbook explores economic principles, business cycles, and economic theories relating to the economics of real estate. The origin of cities and suburbs is studied in relation to government regulations and taxation, planning, land use controls, and economic development. Product types include traditional and nontraditional housing, farms, land, and commercial real estate.
Real Estate Finance
Textbook: Real Estate Finance by Realty Publications, Inc., 8th Edition (2016)
The book investigates fintech, the Safe Act, and the Federal Reserve Bank. In addition, the secondary mortgage market is explored, along with loan fund sources for the primary market and federal credit agencies. The important topics of ethics, fraud, consumer protection, and fair lending are considered in-light of federal regulations. An overview of the loan process is studied through conventional financing, alternative financing, government programs, and seller financing. The book ends with qualifying the borrower, qualifying the property, and state licensing requirements.
Mortgage Loan Brokering
Textbook: Mortgage Loan Brokering and Lending by Realty Publications, Inc. (2016)
The textbook begins with the licensing requirements for a mortgage loan broker, including the California Department of Real Estate (DRE), and the California Department of Corporations. Mortgage loan activities are considered, including exemptions from licensing requirements, supervision, licensing compliance, agency disclosures, fair lending practices, and trust fund handling. The textbook concludes with an investigation of hard money lenders, securitization, third party originators, and financial institutions.
Textbook: Escrow 1 by Walt Huber, Joe Newton, and Anita Rubeck, 5th Edition (2017)
The textbook defines what an escrow is and why it is used by real estate professionals. We investigate basic escrow processes, exchange escrows, note and trust deed escrows, and escrow laws and regulations. The book concludes with the sale and escrow of business opportunities.
Textbook: California Business Law and Legal Environment by Walt Huber and Kim Tyler, 5th Edition (2018)
Introduction – Court System & Court Procedure – Alternative Dispute Resolution – Ethics, Law, & Business – Torts: Intentional, Negligent, & Liability – Business Torts & E-Commerce – Contracts: Offer, Acceptance, & Mutual Assent – Capacity & Consideration – Unlawful Agreements and the Statute of Frauds – Consent & Performance – Interpretation & Third Parties – Contract Discharge & Remedies for Breach – Sales Law: Terms, Formation, Obligations, & Title – Sales Law: Risk of Loss & Warranties – Agency – Major Forms of Ownership – Major Federal Acts
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