Michigan Occupational Code
Learning Objective: Students will recognize which portions of the Occupational Code pertain to and regulate the real estate industry.
2. Requirements for Licensure
4. Continuing Education
5. Assumed Names
6. License Revocation and Suspensions
7. Broker Supervision
10. Listings, Co-Brokering
11. Offers and Deposits
13. Beginning Math Tutorial
Learning Objective: Identify the components of a contract, what conditions may apply and what constitutes a breach of contract.
2. Expressed or Implied
6. Profit or Loss Math Instruction
Agency, Ethics and Broker Principles
Learning Objective: Be able to prepare a policy and procedure manual for their business.
1. Special, General and Universal Agency
3. Service Provision Agreements
4. Professional Ethics
5. Michigan Consumer Laws
Nature Of Property
Learning Objective: Accurately read a local description and locate property based on metes and bounds, surveys and subdivisions.
1. Legal Description
2. Metes and Bounds
3. Survey System
4. Subdivision Method
5. Land Division Act
6. Interest in Real Property
7. Types of Ownership
8. Water and Mineral Rights
Deeds, Rights and Restrictions
Learning Objective: Recognize various forms of estates, ownership, conveyance of property and easements.
1. Transfer of Property
Valuation and Taxation
Learning Objective: Understand homeowner benefits, determination of value/taxes, appraisal criteria, and point of sale requirements.
1. Determining Value
2. Property Taxes
3. Appraisal Criteria
4. Gross Rent Multiplier
6. Point of Sale
MIDTERM EXAM 70% Passing Score Required
Learning Objective: Be able to apply the rules and regulations of state and federal agencies as they pertain to real estate finance; insurance, mortgages, loans and lenders.
3. Types of Mortgages
5. Mortgage Insurance
Learning Objective: Be able to identify rental and property management requirements, understand commencement and termination inventory checklists, and the use of leases.
1. Michigan Laws
2. Leasehold Estates
4. Real Estate Investment
Learning Objective: Be able to discuss the history and development of civil rights and fair housing legislation, and apply that towards the goal of a discrimination-free business.
1. Civil Rights Act
2. Federal Fair Housing
3. ADA Requirements
4. Michigan Fair Housing
FINAL EXAM 70% Passing Score Required
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