Description
Brokers Real Estate
Law 102
COURSE SYLLABUS
Course Description
This 30 hour Broker prelicensure course brings together many of the most important aspects of a real estate broker business. Business startup, business entities, record keeping requirements are discussed. Keeping employees and visitors safe, as well as insurance needs and reduction of liability is covered. Information that every broker should know, including contracts, finance, and sound broker practices is discussed at length. Finally, fair housing and civil rights requirements are outlined in detail.
BUSINESS STARTUP, EMPLOYER INFO
Learning Objective: Be able to outline the basic types of business entities, including tax requirements and record keeping.
1. Introduction
2. Bureau of Commercial Services
3. Business Entities
4. Business Use of Your Home
5. Recording Business Transactions
SAFETY AND RISK REDUCTION
Learning Objective: Understand the physical, hazard, litigious errors and risks, and how to reduce these risks in order to reduce liability.
1. Introduction
2. Keeping it Safe
3. Visitors
4. Ownership or Possession of Premises
5. Theories of Liability
6. Cases
7. Insurance
8. Shifting Risk
PRACTICAL BROKERAGE PRACTICES
Learning Objective: Be able to prepare a Policy and Procedure Manual, the importance of accurate bookkeeping.
1. Creating an Office Policy Manual
2. Trust Accounts
3. Estimating Seller’s Expenses and Proceeds
4. Violations
5. Real Estate Math
JUDICIAL SYSTEM, CONTRACT LAW
Learning Objective: Understand the rules of arbitration and the importance of a properly drafted contract.
1. U.S. Judicial System
2. Appellate Courts
3. Circuit Courts, Appeals
4. District and Circuit Courts
5. Arbitration
6. Three Vs of Contract Law
7. Creating a Contract
8. Terminating a Contract
9. Breach of Contract
9. Contracts in Real Estate
FINANCE AND AFFILIATED BUSINESS
Learning Objective: Describe the importance of title insurance and case law that illustrates the problems in finance or conveyance of real property.
1. RESPA
2. Promotional and Educational Activities
3. Affiliated Business Arrangements
4. Truth-In-Lending
5. Mortgage Brokers and Bankers
6. Financing
7. Repayment of Loans
8. Types of Mortgages
9. Title Insurance
10. Cases
REAL ESTATE RIGHTS AND RESTRICTIONS
Learning Objective: Identify the rights and restrictions surrounding real property ownership, deeds, transfer of property, and easements.
1. Interest in Real Property
2. Types of Ownership
3. Transfer of Property
4. Deeds
5. Encumbrances
6. Easements
7. Cases
REAL PROPERTY DESCRIPTIONS
Learning Objective: Be able to accurately read a legal description and locate the property.
1. Legal Descriptions
2. Land Division Act
3. Metes and Bounds
4. Subdivision
5. Cases
FAIR HOUSING AND CIVIL RIGHTS
Learning Objective: Identify the most important aspects of Fair Housing regulations, and the importance of the Civil Rights Act.
1. Civil Rights Act
2. Federal Fair Housing
3. Michigan Fair Housing
4. Civil Rights and Fair Housing
5. Cases
6. Employer Guidelines
FINAL EXAM
If you have any questions
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