RE 201F-Real Estate Practice Spring 2015Subject to change

Instructor: Mr. Kendrick K. KimContact info: (714) 402-7363 (mobile, Text)E-Mail: kkim1@fullcoll.eduScheduled Class meetings: Wednesdays: 3:30p.m. to 6:40p.m.*ALL MOBILE DEVICES MUST BE TURNED OFF DURING THE DURATION OF THE CLASS. *

Course DescriptionThis course covers professional aspects of the real estate business. Topics include an overview of the real estate industry, ethics and licensing requirements and completion of contracts, including forms, and disclosures, prospecting strategies for obtaining clients; closing sales transactions; financing; escrow, title and taxation issues; and 1031 exchange requirements for investment property.

Required Text

California Real Estate Practice: Author Dearborn: Real Estate Education-Eight Edition ISBN: 978-1-4277-4402-9/1-4277-4402-5

Student Learning Outcomes

Upon completion of this course, student will be able to

1 Analyze and define what is required to represent clients to achieve a successful real estate transaction

2. Integrate knowledge to explain and apply fundamental real estate concepts

3. Describe the skills, knowledge and competencies required to utilize a working vocabulary of real estate practice.

4. Analyze and describe current events and its impact on the real estate market

Course objectives

1. Define and apply ethics and professionalism as they apply to the real estate industry

2. Integrate knowledge to explain and apply fundamental real estate concepts.

3. Describe the skills, knowledge and competencies required to utilize a working vocabulary of real estate practice.

4. Employ the four phases of sales: listing , prospecting, selling, and closing

5. Discuss special sales, including exchanges and income properties

6. Successfully complete a wide variety of commonly used real este forms, contracts, and disclosure documents

7. Critically analyze current events to ascertain their impact on the real estate market

Academic Honesty: The use of unauthorized material, communication with fellow students during an exam, attempting to benefit from the work of another and similar behavior that defeats the intent of the examination or assignment is unacceptable. Copying assignments is specifically prohibited. Any violation of this policy will result in student receiving a zero on the examination or all papers and whatever further action is decided necessary by the College. (See college catalog for Academic Honesty Policy.)

ADA Statement: Fullerton College is committed to providing reasonable accommodations for students with disabilities upon request of the student (in a timely fashion) and upon verification of disability.

Disabled Students/Learning Resources Disability Support Services (714-992-7099) Room 804

Evaluation Method QUIZZES ARE TO BE ANSWERED ON SCANTRON FORM NO 815-E. MIDTERM AND FINAL EXAMS ARE TO BE ANSWERED ON SCANTRON FORM NO 882-E

GRADING

Grading is on the point system130 pts—total of the highest 13 grades of the 15 chapter quizzes50 pts – Midterm exam (50 questions of Multiple choice and true/false)100 pts – Final Exam (100 questions of Multiple choice and true/false)75 pts – class participation50 pts – Group Paper (3-5 pages, due May 13, 2015)

A = 360- 400 C = 280- 319 FAIL = 239 and belowB = 320-359 D = 240-279

NO MAKE-UP QUIZES/EXAMS NOTE: all questions on the mid-term and final exams will be taken from the lecture, textbook material, and chapter quizzes. The instructor will try as often as possible to cover the questions during the lecture, but this may not always be possible. It is highly recommended that you attend each class session and read each assigned chapter prior to the class meeting.

CLASS SCHEDULE

Subject to Change

January 28 Introduction, Chapter 1, You are licensed now what?

February

4 Chapter 2, quiz chapter 1, “ethics in the profession”11 Chapter 3, quiz chapter 2, “Disclosure! Disclosure! Disclosure!”18 Chapter 4, quiz chapter 3, “How do we get business?”25 Chapter 5, quiz chapter 4, “The Listing”

March

4 Chapter 6, quiz Chapter 5, “Contracts in a listing” 11 Chapter 7, quiz chapter 6, “ How do you serve the listing” 18 Chapter 8, quiz chapter 7, “marketing and advertising” 25 MIDTERM EXAM (Chapters 1-8) April 1 Chapter 9, “The buyer and what we need to know” 8 Chapter 10-11, quiz chapter 9, “Transaction from beginning to end” 15 Chapter 12-quiz chapter 10-11, financing, guest speaker(s) 22 Chapter 13-14 quiz chapter 12, “Escrow, Title, Why?, guest speaker (s)

Chapter 15, quiz chapter 13-14, “Career in Property Management”

May6 Chapter 15, quiz chapter 13-14, “Career in Property Management”

13 Final Exam review, guest speaker (s), “Putting it all together” 20 Final Exam