Real Estate: Prelicense
| Major: 5139 First Term: 2013 Spring Final Term: Current Award: CCL Total Credits: 6.5 CIPS Code: 52.1501 | Initiating College: Phoenix College Program Availability: Shared by: MC, PC. SM Occupational Area: Finance Instructional Council: Business/Management (03) GPA: 2.00 |
Detailed Program Information | |
Description: The Certificate of Completion (CCL) in Real Estate: Prelicense program is designed to prepare students with the minimum coursework required by the state of Arizona for eligibility to take the state's real estate salesperson's license exam.
Program Notes:
+ indicates course has prerequisites and/or corequisites.
Students must earn a grade of "C" or better for each course listed in the program.
Admission Criteria:
High school diploma or GED or equivalent.
Current ASSET/COMPASS/ACCUPLACER placement tests reflecting eligibility for the following:
CRE101 College Critical Reading OR Equivalent
ENG101 First Year Composition OR
ENG107 First-Year Composition for ESL OR Equivalent
MAT102 Mathematical Concepts/Applications OR
Completion of higher level mathematics course OR
GBS131 Business Calculations
Program Notes:
+ indicates course has prerequisites and/or corequisites.
Students must earn a grade of "C" or better for each course listed in the program.
Admission Criteria:
High school diploma or GED or equivalent.
Current ASSET/COMPASS/ACCUPLACER placement tests reflecting eligibility for the following:
CRE101 College Critical Reading OR Equivalent
ENG101 First Year Composition OR
ENG107 First-Year Composition for ESL OR Equivalent
MAT102 Mathematical Concepts/Applications OR
Completion of higher level mathematics course OR
GBS131 Business Calculations
| Required Courses | |||
|---|---|---|---|
| Credits: 6.5 | |||
| REA179 | Real Estate Principles I (3) AND | ||
| + | REA180 | Real Estate Principles II (3) OR | |
| REA201 | Real Estate Principles I and II (6) | 6 | |
| + | REA290AH | Real Estate Seminar: Contract Writing | 0.5 |
| Program Competencies | |||
|---|---|---|---|
| 1. | Describe individual rights of, legal interest in, and legal forms of ownership of real property (land), including lending and consumer rights regarding fairness and disclosure. (REA179, REA201) | ||
| 2. | Describe how property taxes and assessments on real property can be derived. (REA179, REA201) | ||
| 3. | Describe the role of a real estate brokerage, the fiduciary obligations of a real estate agency, and the role of professional affiliations within the real estate industry. (REA179, REA201) | ||
| 4. | Define and list the various types of real property insurance common to residential property. (REA179, REA201) | ||
| 5. | List the methods used to convey title and to search, verify, and record titles in real estate. (REA180, REA201) | ||
| 6. | Define the fundamental components of various real estate contracts and common security agreements such as mortgages and deeds of trust. (REA180, REA201, REA290AH) | ||
| 7. | Identify and describe the different types of loans and government-sponsored loan programs, including Federal Housing Authority (FHA) -insured loans, Department of Veterans Affairs (DVA) -guaranteed loans, the role of the promissory note obligation, and the many different sources and ways in which to finance real estate purchases. (REA180, REA201) | ||
| 8. | Explain the closing process and the purpose for and importance of the escrow period. (REA180, REA201) | ||
| 9. | Describe real estate leases and the role property management firms play in protecting the owner's investment and satisfying the owner's income requirement. (REA180, REA201) | ||
| 10. | Identify and describe the three different value approaches used to appraise real property. (REA180, REA201) | ||
| 11. | Define state licensing laws and other real estate laws, rules, and regulations, including fair housing, American Disabilities Act (ADA), and equal credit opportunity statutes and compliance criteria. (REA180, REA201) | ||
| 12. | Define land-use control, the value of regional planning activities, toxic substances that have a potential environmental impact, and the importance of environmental impact statements in the development of real property. (REA180, REA201) | ||
| 13. | Identify and describe various physical characteristics, economic forces, and other social and demographic phenomena that affect the value of real property. (REA180, REA201) | ||
| 14. | Identify and describe the many different factors that affect investment decisions. (REA180, REA201) | ||
| 15. | Review the key precepts of contract law. (REA290AH) | ||
| 16. | Review the required elements necessary to produce valid contracts. (REA290AH) | ||
| 17. | Identify and complete basic real estate contracts. (REA290AH) | ||
All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.