BRE-1030 Real Estate Principles and Practices for Salespers

Credits 3
This course introduces students to the real estate business. Students explore careers, professional organizations and the advantages and disadvantages of real estate investments. Students learn about various aspects of real estate, including forms of ownerships, contracts, titles, brokers’ agreements, and financing options for purchasing real estate. Additionally, students study federal, state, and local laws related to fair housing, environmental concerns, and other rights and responsibilities of various stakeholders in real property. Other topics addressed include land descriptions, real estate appraising, the closing process, and property management. Lastly, students will calculate acreage, taxes, commissions, mortgages, etc. (May also be taken as continuing education course RES-305 Real Estate Principles and Practices for Salespersons)

Reading Proficiency Required

This course satisfies the 60-hour educational requirement for the real estate salesperson license. To comply with state law, students who wish to sit for the real estate salespersons licensure exam must attend all sessions or make up any missed hours (a maximum of 6 hours can be made up and arrangements for make-ups must be made with the course instructor). Students must earn 75% or more on the final exam in order to pass this course. Students who do not pass this course are not eligible to sit for the Maryland real estate salesperson license exam.
Formerly (Formerly offered as RLS-1030. Students may not earn credit for both RLS-1030 and BRE-1030.)
Course Outcomes

Examine the real estate business, including careers, professional organizations, and (dis)advantages of real estate investments.
Compare and contrast personal and real property.
Explain how various laws regulate and limit what real estate professionals can and cannot do.
Summarize the forms of ownerships, including holding and transferring title
Analyze various real estate contracts, including validity of contracts
Identify the different types of listing and buyer representation, brokers’ agreements and their terms.
Compare and contrast Maryland Real Estate Commission (MREC) Real Estate Brokerage Relationships and Disclosures
Examine the rights, responsibilities, obligations, and interests of various stakeholders related to real property ownership
Describe the various types of financing techniques available to real estate purchasers and the role of government financing regulations.
Compute real estate related calculations, including acreage, taxes, commissions, and mortgages
Examine roles and responsibilities of property managers, including leases and role of landlords and tenants
Adhere to federal, state, and local fair housing laws
Adhere to federal, state, and local environmental mandates
Interpret appraising data for a competitive market analysis, including the 3 approaches to value
Recall Maryland license law
Describe the process of a successful real estate closing
Recognize the different methods of land descriptions